Innes England’s annual Market Insite report has revealed that industrial rents in Derby have grown by 26% in the last five years, alongside significant deals in the retail sector.
Nick Hosking, director at Innes England, said, “The industrial sector performed well in 2017 with take-up echoing the previous year. Given the strength of Derby’s manufacturing base we expect to see the industrial sector perform well again this year.”
Innes England, sponsors of Team Derby at MIPIM, also analysed the retail market, noting the success of Intu Derby, whilst the Cathedral Quarter saw lettings to Jack Wills, Bar Soba and Bunk.
The largest deal, billed as the biggest in the city since the opening of Intu Derby, was the letting of 22,000 sq ft in the St Peter’s Quarter to TK Maxx.
The American retail giant has announced the store will open on Thursday 22nd February and is expected to drive footfall and further lettings to the area. Derby City Council is offering support to the regeneration of the St Peter’s Quarter, with public realm works across the area, including a Walk of Fame, celebrating noteworthy achievements of some of Derby’s most deserving residents.