Ivygrove Developments

Agent's deal for Eagle

Bondholder BB&J has concluded a deal to bring a nationwide tyre and fleet management company to Bondholder Ivygrove's Eagle Park.

Tructyre ATS has become the latest firm to agree to take space at Eagle Park industrial park on Alfreton Road, Derby.

The firm, which was established in 1996 and has in excess of 70 service centres, is part of the Michelin Group and was recently merged with ATS Euromaster to create the nation’s leading commercial fleet tyre service specialist. The company joins other national occupiers at Eagle Park, which include Screwfix, Howdens and Greggs.

Chris Keogh of BB&J Commercial, said: “Eagle Park continues to attract excellent interest from national and international businesses despite the uncertain economic climate. We’re delighted to secure a tenant of the calibre of Tructyre and are confident that they will be a great addition to this address and hopefully generate employment opportunities to the local area.”

Deals for BB&J

Bondholder property agents BB&J Commercial has announced the completion of two deals in Derby.

Graham Bancroft, Partner at the firm, orchestrated the sale of an office investment at 1 Pride Park View on behalf of a retained client. The property comprises a modern office building in a prominent position on Pride Park and is let to fellow Bondholder Pattonair.

Graham said "The property is situated in what many would consider to be the best and most prominent position on Pride Park overlooking the stadium and Derby Arena. The location of the building coupled with the fact that it is let to a very strong global business such as Pattonair (Derby) Limited made this an enticing investment opportunity."

In addition, BB&J Commercial has agreed terms with national plumbing and bathroom supplier, James Hargreaves Limited, which has taken occupation of Unit 24 at Bondholder Ivygrove Developments Eagle Park on Alfreton Road.

The company has chosen the site as the home for its latest depot as part of its planned growth, with the majority of its existing 50+ branches located across the north of England.

Chris Keogh, Senior Surveyor at BB&J Commercial commented "Eagle Park has a good mix of businesses in what is one of Derby's principle employment areas and really does offer a 'one stop' location for most tradesmen. James Hargreaves Limited has an excellent reputation in the north of England and by opening the new Derby branch this means that they can provide a far greater coverage to their existing clients located within the East Midlands."

unnamed (1).jpg
 

Eagle Park is a Sure thing

Bondholder DSP (Interiors) Ltd has started work on site, developing commercial unit 17 Eagle Park into a state-of-the-art production facility for fellow Bondholder SureScreen Diagnostics Ltd. Eagle Park is Bondholder Ivygrove Developments Ltd's development on Alfreton Road.

DSP and Nutri.jpg

The site will be used to develop and manufacture specialist liquid health supplements for Nutrivitality.

Working closely with the client, design and fit out specialists DSP (Interiors) Ltd has developed the design of the new facility to their exacting requirements. The project builds upon the success of other recent fit outs on the Park by DSP, including the national award-winning project for Robinson Structures Ltd. Work now begins on the fit-out stage of the multi-faceted turnkey project which includes a large mezzanine floor, production facility, amenities and full mechanical and electrical install.

Nutrivitality was established in 2016 and is a subsidiary of SureScreen Diagnostics Ltd, a long-standing expert and provider of drug and alcohol screening in the UK and Europe. The knowledge base for liquid vitamins has some 15 years of research and development behind it, and has placed Nutrivitality as a world leader in the field, due to the range, in-house knowledge and the unique science and technology applied to each product range.

As the market is becoming more aware of the benefits of liquid supplements, demand has increased production needs to scale swiftly, whilst conforming to strict production values and quality systems, which need to be met by a more capacious, specially designed manufacturing location. This has been the key driver for the development of the new facilities at Eagle Park.


Getting an Incite into Derby's Success

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.

The report, which monitors trends in the East Midlands property market, highlighted a strong industrial market with Goodman and Ivygrove Developments leading the way.

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.
 

£10m New Employment Zone Planned

Ivygrove Developments has submitted a planning application to Derby City Council, to convert a seven-acre site into a £10m industrial estate.

The former Rolls-Royce car park in Dunstall Park Road will help create up to 500 jobs, once completed. 

John Blount, Chairman of Ivygrove, said: "It was obvious to us that the site was ideal for our industrial units. We agreed terms to buy it soon after it came to the market."

Stephen Salloway, Managing Director at Salloway Property Consultants the agents for the site, said: "The proposal is to build up to 20 units totalling 80,000 sq ft and ranging from 3,000 sq ft to 15,000 sq ft.

"The timing is excellent as we are seeing increasing levels of demand across the board for small to medium-sized industrial units. Dunstall Park fits the bill perfectly.

"We believe there is a good appetite for the Ivygrove product in this size range and location and I anticipate good levels of early interest from pent-up demand. Indeed, we already have two serious enquiries from major organisations. It is great news for the local economy and fits well with the concepts of the Industrial Strategy."

Ivygrove are at the forefront of Derby’s industrial property market and this new development sits perfectly with their strategy to maintain a constant supply of new, existing and bespoke units.
— Stephen Salloway

Eagle Park to Soar

Bondholder Ivygrove Developments has been granted permission by fellow Bondholder Derby City Council to build 10 more units at Eagle Park. 

Ivygrove first started work on Eagle Park two years, with the creation of the first 19 industrial units on the site. The developer purchased the 15-acre former Darka site back in 2014.

Once complete, the new developments could create up to 500 new jobs. 

The proposal includes a mixture of uses, such as office space, storage and distribution, with parking and delivery spaces for each unit.

Health trust takes on Derby site

Nottingham Healthcare NHS Foundation Trust has leased a 48,000 sq ft warehouse in Derby, which is owned by Bondholder Ivygrove Developments.

The trust is a major provider of mental health and community healthcare services and will be using the building for back office functions.

The five-year lease was put together by Chris Keogh of Bondholder Salloway Property Consultants. He said: "Securing a UK Government-backed tenant on full repairing and insuring terms feels like a job very well done for a building that had previously stood vacant for a number of years prior to our involvement."

Bondholder Ivygrove Developments has agreed to upgrade the building to a modern standard, undertaking a substantial fit-out which will meet the modern needs of the trust. Richard Blount, Director of Ivygrove Developments, said: "Gosforth Road is a great example of us taking a tired building and bringing it back to life with appropriate investment - something that is a real strength of ours."

Construction progresses at Eagle Park

Eagle Park, a multi-million pound scheme to create new industrial units on the site of a former factory, is progressing fast after Bondholder Ivygrove Developments secured full planning permission last year.

Neighbouring firm Eggleston Steel is having a 16,000 sq ft building constructed on the site, with work almost completed. The £1.5m premises will house the company's state-of-the-art cutting machines which are currently situated on the other side of Derby.

A second nearby business, Pope Machinery Ltd, is to purchase two units - 2,500 sq ft and 3,500 sq ft - for over £500,000. The company will initially rent out the space until it needs it for a future project. The building work started in March and is due for completion by the end of the month.

John Blount, Chairman of Ivygrove Developments, said: "I was pleased to work with Eggleston Steel and Pope Machinery to accommodate their needs. Arrangements like these work work ways. Ivygrove benefit with continuous construction works and Eggleston, for example, can now expand their existing premises and bring all the production together."

It is expected that up to 500 people could end up working on the site once it is fully occupied.

£5 Million Deal

“There are now just four remaining building plots available at Westside Park.
The quality of building product provided by Ivygrove is there for all to see with Derby manufacturers EPM Technology, Quality Control Technology and SGS Engineering all taking advantage of the excellent benefits of the site.”
— Stephen Salloway, Managing Director

A landmark deal has been finalised for a warehouse for one of the largest manufacturer of NitroLift gas struts in the UK.

The deal, worth a reported £5 million, is the result of complex negotiations taking place over a year, with the 65,000 sq ft warehouse providing space for SGS Engineering.

SGS have once again been a pleasure to deal with and I am delight that we have
been able to accommodate their requirements at Westside Park and retain such a
well-known and well-run manufacturer
— John Blout, Managing Director of Ivygrove Developments

Stephen Salloway, Managing Director of Salloway Property Consultants, said: “This has been an extremely complicated deal to put together, requiring patience and tenacity by all involved. The new building straddles two parcels of land we previously acquired for Ivygrove. However, the latter parcel was subject to a number of covenants that impose demands on the timing, use and structure of the development project. Working through these to enable the 65,000 sq.ft deal to SGS has taken a colossal effort.” 

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."

Ivygrove continues industrial park success

It's certainly an exciting time for Bondholder Ivygrove Developments as it completes one huge project whilst embarking on a second.

The transformation of a historic site in Derby into a modern industrial park has now been completed with 26 buildings at Sawley Park now sold in a process which originally started back in 2010.

Given the recent success of Sawley Park and the added benefit that Eagle Park offers more prominence onto one of Derby’s busy arterial routes we would envisage that this scheme would have the same high level demand
— Chris Keogh, Associate at Salloway Property Consultants

The site was bought from Rolls-Royce and its buildings date back to the 19th century starting life as a lace mill for William Fletcher. 

John Blount, Chairman at Ivygrove Developments, said: "I am delighted that this development has proved successful during the worst economic period ever experienced."

Looking ahead, work on a new project is set to start soon on the former Derby Cables and then Draka International site.

The site, which started operating commercially back in 1929, closed in September 2012 and Ivygrove Developments then bought the site in 2014. The company specialises in transforming old and derelict industrial sites and the new Eagle Park development will create around 500 jobs.

John Blount said: "We have already received inquiries from interested parties and we are pleased to accommodate prominent companies such as Robinson, Pendragon, Eggleston Steel and Screwfix."

Chris Keogh, Associate at Salloway Property Consultants said: "Given the recent success of Sawley Park and the added benefit that Eagle Park offers more prominence onto one of Derby's busy arterial routes we would envisage that this scheme would have the same high level demand. Certainly, early interest in the site from both national and local business indicates that the appetite is there already."

£6.75m Hi-Tech Hub Opens

Bondholder and producer of parts for high-performance sports and racing cars, epm:technology has now commenced production at its new £6.75m hi-tech factory.

“A world-class factory in a world-class location, with a world-class workforce” is how managing director, Graham Mulholland described the move.

Marketing Derby Bondholders have supported the move - Ivygrove Developments were responsible for constructing the building, legal advice services were provided by Smith Partnership, and Salloway put the property deal together.

In total, epm:technology has moved 103 staff to its state-of-the-art, purposely designed new manufacturing site in Raynesway, the most advanced of its kind in Europe. The investment was made possible by a £4.75 million loan from Derby City Council’s Derby Enterprise Growth Fund, designed to help businesses expand in order to create good-quality employment opportunities.

Graham Mulholland added: “Ensuring the continuation of production throughout our transitional period has been imperative and I am extremely proud to say that that goal has been achieved seamlessly which is a great testament to the entire epm team who have made it all possible.”

Graham Mulholland said “This is how we are going to improve our performance and the factory demonstrates that we really are a world-class operation that is worthy of working with global bluechip companies.”

The firm is recruiting more laminators and engineers to help it expand further to support future growth.