Salloway advises on £1m Pride Park investment

Bondholder and commercial property expert Salloway Property Consultants has achieved a £1m sale of a high-profile training facility on behalf of clients and fellow Bondholder Ivygrove Developments.

Without question, £1,000,000 feels good value for what is a significant building in a fantastic location
— Stephen Salloway, Managing Director of Salloway Property Consultants

The premises, located on Royal Scot Road, are leased to Training Services 2000 Ltd. which provides the delivery of high quality goverment-funded apprenticeships and associated learning courses.

Managing Director Stephen Salloway managed the marketing and involvement since the acquisition of the development site until its sale. He explained: "After the land was acquired, Royal Scot Road became one of the major office and business unit developments on Pride Park."

He continued: "We agreed a lease of the 11,000 sq ft building with the prospect of income until 2025."

The investment, which produces a net income of £97,500 per annum was acquired by Garner Properties Limited at an attractive yield of 9.2%. Stephen explained: "With the tenant having an option to break the lease in 2020, Garner Properties Limited may have the opportunity to re let the premises at office rates, giving a reversionary character to this investment."