Property

Exclusive - New future for Audley Centre

Marketing Derby can reveal that plans have been submitted to revitalise a key building at the heart of Derby’s city centre. 

Having bought the Audley Centre on St Peter’s Street, in the St Peters Quarter, in December 2014, London-based Steamrock Capital has been working with Derby City Council and Marketing Derby to determine the best future for the building. 

As the site of the former Midland Drapery, it is appropriate that the planned new building will restore the building to its original height and include new shopfronts at ground floor, whilst the upper floors will consist of new apartments, creating more vibrancy in the area.

Tom Erskine, Inward Investment Executive at Marketing Derby, said, “We are delighted that Steamrock Capital has submitted these plans. The current building has been in need of significant attention for some time, and these plans should provide the regeneration this site has needed.”

Graeme Jones, Head of Asset Management at Steamrock Capital, said “We are looking forward to restoring an important former historical building back to its prime that will provide it with a sustainable future in the heart of Derby City centre”.

Plans should be available to view on Derby City Council’s planning portal in the coming weeks. 

FHP secures third city centre deal this month

Bondholder FHP Property Consultants recently completed a deal for a new ice cream café to open in Derby's Central Hall this July - just in time for summer.

The deal with Diletto adds to previous city centre deals outside of intu Derby this month including national homeware retailer Pondon Homes and gym franchise Xercise4less.

Diletto takes a twist on the American style diner concept seen spreading across many UK cities, offering an alternative to after dinner drinks and acting as a daytime social hub, serving up delights such as ice cream, sundaes and milkshakes.

This signals wider activity happening in the city as vacant units are reducing in central Derby, and more retailers are signing up, including Dr Martens on Sadler Gate.

Darran Severn from FHP commented: "It's great to see new businesses coming to Derby and East Street has proved popular due to the high footfall between intu Derby and the bus station. With less opportunities around, it's only a matter of time until rents begin to increase."

Bondholder FHP is also highlighting modern two story offices in an excellent location in Derby - 61 Canal Street - which are in close proximity of the railway station, bus station and intu Derby shopping centre as well as the inner ring road.

Tim Richardson from FHP said: "This is a rare opportunity to acquire good modern space in a very convenient location being just outside of Pride Park, at a competitive rent. We already have an offer on the ground floor suite which will leave just the first floor suite of 1,444 sq ft available."

For further information, please call (01332) 343 222 or email timr@fhp.co.uk

 

Cathedral Court ready to go

Derby Property Summit sponsor Prosperity Capital Partners is set to deliver the 350-bed Cathedral Court on Cathedral Road in Derby's city centre to the University of Derby in August 2016.

Student development funding specialists, Prosperity, secured £20 million from Aviva Investors REaLM funds in June 2015. This followed planning consent being granted in March 2015, after a lengthy collaboration between developer London & UK Property, Marketing Derby and the Local Planning Authority.

As part of this agreement, the University of Derby will operate the building on a lease period of 30 years under their Derby Student Living brand.

Designed by GT Architects, the development consists of 350 units arranged in cluster flats with communal living areas, laundry and on-site management.

With the building nearing completion, Gavin Barry, CEO of Prosperity, confirmed that following the success of working in Derby on this project, his company is keen to follow it up with further city living developments in the student and Build to Rent sectors.

Prosperity Capital Partners is a Parter for the 2016 Derby Property Summit.
 

More local Xpertise

A Derby recruitment company is the latest business to move into the city’s Cardinal Square offices. 

From its existing base within Sadler Bridge Studios, part of Derby City Council’s Connect scheme of managed workspaces, Xpertise Recruitment has relocated to its newly refurbished space as part of a drive to expand its workforce over the coming 18 months.

Managing director Richard Harrison said: "We are working in a fast growth area of recruitment with particular demand for high-end skills in software development and data sciences.”

"Having outgrown our previous offices, we are delighted to be at Cardinal Square where we can create our own footprint with the environment that makes the workplace vibrant, energetic and fun."

The group's relocation was handled by Rigby & Co, which is letting agent for Cardinal Square's owner Nurton Developments.

Russell Rigby, of Rigby & Co, said “Nurton Developments are delighted to welcome Xpertise Recruitment to Cardinal Square. Xpertise are a very progressive and straightforward business to deal with and we very much hope that their relocation to our building will allow the company to prosper and grow.”

First class student resi

Collegiate AC continues to make progress on Derby’s newest student accommodation with a high-quality offer for University of Derby students, which makes a point of difference between itself and other accommodation on the market.

Roman House, on Friar Gate, in the city’s Cathedral Quarter has been developed by StudioUS, with construction carried out by Derbyshire-based Bowmer & Kirkland. The 72 studios and 54 'two-dios' have been designed to resemble smart city hotel rooms, with facilities including a private gym, cinema, seminar rooms, social hubs and concierge services.

Prices start at £120 per week per person for a 'two-dio' rising to £195 per week for the larger 'ultra studios' which are already sold out. The two-dio features a kitchen shared between two, with individual en suite bedrooms.

The accommodation is on track to be available for students from September 2016.

City living success

Radleigh Homes’ Weavers Point development continues to demonstrate the strength of Derby’s city living market and is contributing to the increasing vitality of the city centre.

Since opening the sales office in February 2016, the luxury 2-bed apartments on Lodge Lane have sold quickly at prices from £150,000 upwards, with over 50% having sold already.  Now nearing completion, the show flat is to open on Friday 21st May.

Head of Sales at the Radleigh Group, Natalie Griffiths, said “Weavers Point presents a fantastic opportunity for anyone looking to live in a luxurious development with the hustle and bustle of Derby’s thriving economy on their doorstep”.

Weavers Point presents a fantastic opportunity for anyone looking to live in a luxurious development with the hustle and bustle of Derby’s thriving economy on their doorstep
— Natalie Griffiths, Head of Sales at Radleigh Group

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."

BB&J property surveyor wins Deal Maker of the Year

Leading property surveyor from Bondholder BB&J Commercial, Chris Wright, has been awarded the prestigious title of Deal Maker of the Year for the second time thanks to a number of major deals he has secured over the past year.

Chris was announced winner in the Derbyshire category by leading industry firm, EGi which publishes the Estates Gazette magazine and undertakes extensive research and analysis of the UK property market.

BB&J's Mark Richardson said: "This is fantastic news and truly well deserved. Chris works very hard and has a strong commitment to clients as well as a clear natural aptitude and sense of the market which has helped to make him Derby's top agent."

Chris has been integral in some of Derby's biggest property deals including the most recent announcement that cyber security firm Webroot is doubling its presence in the city thanks to a move brokered by Chris.

Chris commented: "It's an absolute honour to gain the Deal Maker title once again, it's been an incredibly busy year and I've been involved in some very exciting projects which has contributed towards Derby's continued reputation as a major centre for business and innovation."

£1m Cosy Club opens in Derby

A £1m upscale leisure scheme opens this Saturday in Derby. Cosy Club, a brand operated by Loungers plc, will open at the Royal Hotel Buildings owned by Bondholder Clowes Developments.

Marketing Derby started talking to Loungers in 2015 and the deal was closed by Bondholder Salloway Property Consultants.

Due to open to the public this Saturday, the café-bar will be accessed from the Cornmarket before ascending to the first floor.

Nick Collins, Managing Director of Loungers plc, said: "We are very excited to be opening in the old Royal Hotel building, bringing back to life a beautiful space in a landmark building at the centre of Derby. It's been an absolute privilege to develop such a stunning property and we have invested £1m in the refurbishment of the site with its opening creating over 30 new jobs. The Cosy Club will offer casual drinking, dining and lounging throughout the day and evening in its theatrical and eccentric surroundings."

Tom Erskine, Inward Investment Executive at Marketing Derby, said: "It is fantastic to see a growing and well-regarded brand such as Cosy Club arriving in the city. Having recognised the opportunity that exists in Derby, they have taken the decision to breathe life into a vacant, landmark building and will further improve the food and drink offering for the residents, workforce and visitors to Derby city centre."

Following the opening of the Cosy Club Derby, the Carnera Lounge will be opening later in the year in Derby.

We are very excited to be opening in the old Royal Hotel building, bringing back to life a beautiful space in a landmark building at the centre of Derby.
— Nick Collins, Managing Director of Loungers plc

Next-gen market leader doubles office space in city

The market leader in next-generation endpoint security and cloud-based collective threat intelligence has made a major commitment to Derby and will create around 50 jobs across the next year.

Webroot arrived on Pride Park in 2013 when it acquired Prevx and invested in 7,128 sq ft new-build offices - a sale led by Bondholder BB&J Commercial. Since then, Webroot has been enjoying significant success in Derby and has been on the lookout for similar space in order to grow the firm's operations within the city.

BB&J Commercial were able to successfully secure the letting of a prestigious office building at adjacent Mallard Way, taking the firm's total occupancy on Pride Park to around 14,000 sq ft with the potential to expand further.

Chris Wright from Bondholder BB&J Commercial, who secured both deals, said: "It's great to see a company such as Webroot, which is the global market leader in its field, committing once again to Derby. Their expansion demonstrates the confidence they have in the market and the strength of Pride Park in particular as a professional centre for businesses from around the world."

Bill Evans, Senior Manager of Facilities at Webroot, said: "We are inspired by the innovation in Derby and, after more than three years successfully building our team and operations in the city, the time is right to expand our business again by taking on additional premises and recruiting 50 new employees. We are thrilled to be expanding our presence within such a successful commercial area and to be part of the city's thriving tech industry."

Revenues soar at Clowes Development

Bondholder Clowes Development has reported a huge increase in revenues by more than £36m with pre-tax profits also increasing to £26.6m from £14.7m.

Turnover for the year came in at £76.6m, up from £40.1m a year earlier. The company's chairman, David Clowes, said growth was down to higher development sales and one large sale of £44.4m during the year.

Now headed by one of the region's most successful entrepreneurs, David Clowes, the company was originally founded in 1964 by Charles W Clowes and now owns industrial, office, retail, residential and mixed-use sites across the UK through its 16 subsidiaries.

The company has also confirmed that turnover and profit are likely to reach similar levels in the year to 31st March 2016 due to the company's pipeline and strategy of acquiring and brining sites forward for development.

 

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."

Ten years of BEC Consulting

Bondholder Built Environment Consulting (BEC) is celebrating a decade in business, attributing its personal relationships and long-term recruitment philosophy as key to growth in the service sector.

The building services consultancy can call upon a staff of 20, including engineers, specialised CAD operators using both 2D and 3D CAD (Revit) packages, which has placed the firm in an ideal position to provide design services for a large portfolio of varied clients and projects.

The firm has a long history of working with contractors, which it still considers as a significant market place and one it will continue to value and operate in.

Carl Ackers, Director of Built Environment Consulting, said: "Our aim is to employ high calibre staff to help ensure that our service is the best we are able to provide. We will always try and avoid being a 'bums on seats' type of employer and we will always strive to offer the best service to both our existing and future clients. After ten years in the industry we have managed to successfully adopt and implement this philosophy in to our recruitment strategy."

Through focusing on customers' needs and requirements, careful recruiment, strategic management and investment in software and hardware, the firm is positioned to offer a range of services to the market place, including mechanical and electrical engineering, BIM services to level II, thermal modelling providing SBEM's, EPC and SAP calculations, BREEAM support and specialist lighting design.

Carl added: "We've had a fantastic ten years in business, and through careful recruitment and training we feel that we are in a strong position to target bigger projects and establish new clients."

Irongate Group expands at Kingsway

Irongate Group's newly-leased 15,500 sq ft business unit

Irongate Group's newly-leased 15,500 sq ft business unit

Bondholder Irongate Group has increased its office space by around 50% by taking a new lease of a 15,500 sq ft business unit next to its existing head office.

The expansion means we can increase the variety of services we offer, particularly work wear and PPE
— Adam Noble, Managing Director at Irongate Group

After starting out as a photocopying shop on Derby's Irongate, the business has grown exponentially into providing a diverse range of business services including office supplies, workwear, managed communications and document management.

Now turning over £17 million annual, Managing Director Adam Noble said: "We have seen through our existing head office at Kingsway that the location was perfect for our needs, we just needed more space. The expansion means we can increase the variety of services we offer, particularly work wear and PPE."

Chris Keogh, Associate at fellow Bondholder Salloway Property Consultants, put together the deal and commented: "Irongate Group now occupy over 45,000 sq ft at Kingsway Industrial Park and that is testament to the strong locational benefits of the development, being both close to Derby City Centre and the extensive transport infrastructure accessible via the A38, which adjoins the Park."