Industrial estate sold in off-market deal

Clowes Developments has sold an industrial estate in Derby close to Rolls-Royce’s civil aerospace campus.

Rotherhill has acquired Trafalgar Park on behalf of joint venture partner DCS 452 Ltd in an off-market deal.

Located off Victory Road, the estate comprises two industrial units of around 29,850 sq ft and 14,250 sq ft, alongside 0.4 acres of outdoor storage land.

The larger unit is occupied by waste management company Biffa on a lease running until 2033.

The smaller 14,250 sq ft unit and storage land are vacant, with Rotherhill planning a comprehensive refurbishment of the industrial accommodation.

Both will subsequently be marketed on a “to let/may sell” basis through FHP Property Consultants and CPP.

Ed Jeffrey, director at Rotherhill, said: “The property is well-located with good underlying fundamentals, providing both income and immediate asset management opportunities to explore.

“We look forward to the refurbishment and onward marketing of these elements with our retained occupational agents FHP and CPP.”