Build It and They Will Come

Earlier this week, Bondholder Innes England held their 10th annual Market Insite event at Derbyshire County Cricket Club.

The Derby property market was reported as having performed solidly over the last 12 months with encouraging signs for the year ahead as major sites such as Infinity Park and Derby Triangle start to come forward.

Industrial and office take-up has remained largely in-line with previous years, whilst retail continues to see major growth, not just in Intu but outside as well, with the Cathedral Quarter seeing major new occupiers such as Joules, Dr Martens and Bodega enter the Best City Location in the UK (according to the GB High Street Awards)

However, a key thread running through all sectors in Derby, and regionally is that supply is becoming a barrier to growth. There is significant demand from retailers, office occupiers, distribution and manufacturers looking for good quality space in the city that cannot currently be accommodated.

Nick Hosking of Innes England said he expects to see an office pre-let of 25,000 sq ft for a new building emerge in the city in the next 6 months, whilst Greg Jennings, Acting Director of Regeneration and Housing for Derby City Council, highlighted the need for office stock that can cater for smaller new requirements.

The over-riding message was a positive one to developers and the Derby property industry - the demand is here, occupiers are waiting so no matter what the sector - build it and they will come.