De Montfort University (DMU), one of the UK's most dynamic Higher Education institutions, has instructed national commercial property consultancy, Lambert Smith Hampton (LSH) to bring to the market more than 70,000 sq ft of accommodation located close to its main campus on the fringe of Leicester city centre.

The two properties, The Crown / Elfed Thomas Buildings on Newarke Street and the Graduate Business School, Bede Island Business Park are being disposed of following the consolidation of DMU's business and law faculty into a single building, which is currently under construction and is due to open in autumn 2009.

Steve Hatherley at DMU said: "The new Faculty of Business and Law is one of the most exciting building projects ever undertaken at DMU and is a key part of our on-going campus development.  

"We appointed LSH because of its expert local knowledge, coupled with its national coverage and proven track record.  As such, we are confident in its ability to dispose of these properties, especially during what is a particularly challenging market."

The Graduate Business School is a three-storey modern office building comprising 20,240 sq ft and includes a bespoke presentation/lecture theatre which could be utilised for a number of purposes.  The Crown and Elfed Thomas Buildings, which total 56,868 sq ft, lie within a designated Potential Development Area within the Local Plan and therefore represent a good market opportunity for redevelopment to residential, student accommodation, leisure or offices.

Geoff Gibson, Head of LSH's Leicester office, said: "We are delighted to have been appointed as sole agent in the marketing of these properties.

"Disposing of these two properties will remove non-core space from the DMUs portfolio, enabling it to continue with the £270 million investment in its campus and surroundings."