Salloway Property Consultants

Church move secured

Bondholder Salloway Property Consultants has negotiated the final piece in the jigsaw for the Becketwell development site with the movement of the United Reformed Church to a new site.

Contracts have been exchanged on the sale of Victoria House on the corner of Victoria Street and Becketwell Lane to Bondholder Derby City Council by the church which will move to Stuart House on Green Lane. Salloway Property Consultants has represented the church in both of the contracts.

Its managing director Stephen Salloway said: “These transactions represent the final piece of the jigsaw in making way for the first phase of the most significant development project the City centre has seen since Westfield/Intu. It was not an easy deal because it involved sale and relocation. We all believe in the Becketwell redevelopment but there needed to be flexibility and co-operation on all sides to make this happen.

“The United Reformed Church was always keen to support such a significant regeneration project but has had to balance that with the requirements of the congregation and the very important community services it offers.

“To achieve these deals, we have needed co-operation from both the estates and regeneration departments of the council, the Prince family, who are the owners of Stuart House, and their agent [Bondholder] Raybould & Sons.

“We would also like to thank Becketwell’s developer, [Bondholder] St James Securities, whose team have also been extremely helpful.”

Agents deal on Lidl site

Bondholders Salloway Property Consultants and FHP have completed a transaction on a site on Raynesway, securing an acquisition by Lidl for a seven-figure sum.

In June, Lidl announced it was opening 40 new stores, creating 1,500 jobs in the process as part of a £500million expansion plan over five years.

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Stephen Salloway of Salloway Property Consultants said “I am delighted to report the sale of this prime development site. Lidl and its agent, Phil Daniels of FHP, were very straight-forward to deal with and completed the sale in an impressively short timescale.

"The prominence of the site on Raynesway on the edge of Alvaston meant we were able to generate a considerable number of enquiries. We received interest from car dealerships, drive-thru operators, a range of retailers and also residential developers."

Director at FHP Property Consultants, Phil Daniels who represented Lidl in the transaction said “ We were pleased to secure this site on behalf of our retained client Lidl. We had been monitoring the site for 24 months and stayed in close contact with Stephen Salloway to ensure the opportunity wasn’t missed."

Phil added “Its always a pleasure to conclude a transaction with a fellow Bondholder, Stephen Salloway – keeping Derby business between Derby businesses!”

 

Park life lettings

Bondholder Ednaston Park business centre is partnering with fellow bondholder Salloway Property Consultants to market the remaining offices at its business centre based on the A52 just 8 miles from Derby centre and 4 miles from Ashbourne town.

Ednaston Park opened in November 2018 after undergoing a transformation from former care home to a new benchmark in offices and studios to let, ranging in size from 1 person units to 8-10 person units.

Business Centre Manager Lucy Delaney comments
“Salloway brings a wealth of letting experience – their reputation and client base allows us to extend our reach across the Derbyshire area, to attract small businesses looking for new premises that offer something different from the usual business centre.

A new virtual tour produced by Derbyshire based 360 Imagery showcases the grounds, offices and the breakout space available. Businesses looking for an office to let can now see inside the recently renovated period property before stepping foot inside.

Lucy adds“Ednaston Park is a fabulous imposing building that will give the right impression for any small business looking to rent office space. Once inside we pride ourselves on a warm welcome and hospitality that extends to all our visitors, tenant businesses and suppliers.
We are excited to showcase our virtual tour which will help prospective tenants to understand what we are about and really imagine themselves working here.

On partnering with Ednaston Park business centre Hugo Beresford, Surveyor at Salloway comments
“We are excited to work with Lucy and the team at Ednaston Park business centre. The quality of the finish, the friendly professional service and the business community that is developing on site is very attractive to many of our clients”
The flexible all-inclusive letting agreements allow companies to expand and contract with minimum fuss which is increasingly important for any business.”

Ednaston Park business centre is ideal for small businesses that are looking to rent an office for the first time, those looking to take on staff, as well as those looking for a regional presence. Offices range in size from 54 ft2 to 450 ft2.
To take the virtual tour visit www.ednastonpark.co.uk.

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Invictus Communications secures Bondholders

Five Bondholder companies have joined the growing number of local companies who benefit from increased cost savings and better efficiency and security thanks to telecommunications systems through fellow Bondholder Invictus Communications.

Invictus Communications have been appointed by HUUB, Salloway Property Consultants, PMW Property, Morecrofts and Century Mobile to install new telephony systems and join 15 other Bondholder companies who are part of the Invictus client portfolio.

Invictus Communications Jonny McPhee said: “Building relationships with other Derby companies through the Bondholder network has been crucial in our rapid growth since 2016 and growing reputation as the go-to telecommunications company in the city and county.

“These further contract gains with fellow Bondholders is testament to the fact that the Derby business community is committed to supporting each other.

We all recognise that dealing with other local businesses results in high quality customer service and benefits the local economy.”

Bondholder PMW Property added: “We were receiving an extremely poor telephony service from another supplier. After speaking with fellow Marketing Derby Bondholders, Invictus Communications appeared to be the highest recommended company. We have been working with them for around a month and have been extremely impressed with the professional and reliable service provided."

Salloway deals

Bondholder Salloway Property Consultants have brokered a deal which sees the former Ashbourne Telegraph newspaper office set to be turned into a micropub.

The building, in Market Place, was previously a pub and Walter Scott who set up the Little Chester Ale House and Last Post in Derby, plans to bring back its former name, The Queen’s Vaults.

He said: "I didn't know it was a pub when I put in for the application but when we were doing some digging around to find out the history for the application we saw it was called The Queen's Vaults.

"It's very early days yet, but I would like it to be open before Christmas."

Steve Salloway, managing director of Salloway Property Consultants, said: “We are delighted at these exciting plans for such a landmark building and it is fascinating that an historic name could be rekindled.

“The micropub industry has really taken off in recent years and this appears to be a great fit for Market Place.”

Salloway Property Consultants are also acting as vendors, along with Bishop Property Consultants, for the former home of Derbyshire Fire and Rescue Service, the historic Old Hall in Littleover.

Expressions of interest have been invited for the nearly five-acre site on Burton Road which includes the impressive Victorian mansion.

The site also includes more modern buildings and gatehouse in attractive, landscaped grounds.

The 1891 house was erected to the design of Alexander MacPherson for businessman Edward MacInnes. Prior to that there was a home on the site which dated back to the late Elizabethan era.

Most recently, it was the headquarters of Derbyshire Fire and Rescue Service for 45 years before it moved to be alongside Derbyshire Police at Butterley Hall in Ripley.

Stephen Salloway, managing director of Salloway Property Consultants, said: “This is a very rare opportunity and the vendors are happy to discuss propositions on a conditional or unconditional basis or even a joint venture.

“Those interested would almost certainly have to retain the beautiful Old Hall and lodge which are noted in Derby’s historic buildings list but are not formally listed.”

£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

Salloway put Network Rail on Track

Bondholder Salloway Property Consultants has leased one of Derby’s most prominent industrial warehouses at Millennium Way, Pride Park, to the owner and operator of the nation’s railway infrastructure, Network Rail. 

The 30,000 sq.ft unit, which is located opposite Bondholder Derby County’s Pride Park Stadium, has been let after a successful marketing campaign.

The deal was put together by Chris Keogh, Associate at Salloway.

Chris said: “To have landed a covenant of the caliber of Network Rail is obviously a welcome result. There is an acute shortage of good quality warehouse space on the market and I am sure Network Rail will be delighted not only to have found the right building solution but crucially, one that is within short proximity of their existing facilities in Derby.”

“There is no doubt in my mind that this underlines Derby’s importance to the national rail network.”

The sublease was signed shortly before the Christmas break and Network Rail have now taken occupation and the deal will initially see Network Rail occupy the warehouse for potentially 4 years.

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."

£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

Siddals Road site on market

A three-acre development site in the heart of the city centre has come to the market in what is one of the best options for mixed-use development in Derby.

Originally granted planning consent for a 300,000 sq ft office scheme in 2010, the site is now being marketed by Bondholder Salloway Property Consultants for development. Whilst office development is expected to remain as part of the scheme, residential, hotel and retail uses are also ideally suited.

Located alongside the city's inner ring road, the site is adjacent to the intu Derby shopping centre and the Castleward urban village whilst the train and bus stations are within a five-minute walk. The site also benefits from outstanding links with the city's main business park, Pride Park, and major roads in and out of the city.

Details for the site can be viewed here, with full documentation available upon request, please contact plomas@salloway.com

£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."

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."

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."

Extended Enterprise Zone Status for Infinity Park Derby

The £200 million development aimed at attracting new hi-tech businesses to Derby has been named by the Chancellor of the Exchequer, George Osborne, as one of eight existing Enterprise Zones to be extended.

Infinity Park Derby is a 100-acre development near Bondholder Rolls-Royce's civil aerospace site and aims to attract businesses with its 1.5 million square feet of offices, warehousing and ancillary facilities.

Enterprise Zone status means businesses benefit from tax breaks and business rates discounts. This extension includes enhanced capital allowances, which means tax relief on equipment like plant and machinery.

This further increases the desirability of the park - which aims to create 8,000 jobs - as a location for companies to relocate, expand or start-up in.

Deputy Leader at Derby City Council, Martin Rawson, commented: "The development is rapidly becoming the most attractive place within the East Midlands to locate a business. The addition of enhanced capital allowances further reinforces this position."

Peter Gadsby, Chairman of Bondholder Cedar House Investments said: "I'm pleased that the Chancellor has announced the extension to the Infinity Park Derby Enterprise Zone. It is recognition for an outstanding strategic regional employment site where we hope to attract occupiers from throughout the UK and overseas."

Bondholder Salloway Property Consultants and JLL are both marketing the site. Managing Director of Salloway Property Consultants Steve Salloway said: "I expect Infinity Park Derby to become one of the East Midlands' most fertile breeding grounds for enterprise and innovation.

Sitting alongside a world-renowned brand as Rolls-Royce - and on the doorstep of multi-national businesses such as Bombardier, Toyota and JCB - the development project will be attractive to 'supply-chain' companies in the advanced manufacturing sector, not only indigenous and UK-wide organisations but from overseas too."

 

The development is rapidly becoming the most attractive place within the East Midlands to locate a business
— Martin Rawson, Deputy Leader at Derby City Council
I expect Infinity Park Derby to become one of the East Midlands’ most fertile breeding grounds for enterprise and innovation
— Steve Salloway, Managing Director of Salloway Property Consultants