City deals round-up

There has been a flurry of deals done in Derby in recent weeks, with the city centre being a particular area of focus.

BB&J Commercial has completed the sale of a historic property in the heart of the Cathedral Quarter, which has been earmarked for a vibrant new restaurant concept.

The firm has sold the Grade II-listed 51 Sadler Gate to a restaurant and café owner, who has plans to turn it into a restaurant showcasing authentic Vietnamese cuisine.

According to BB&J, the property, which comprises more than 2,000 sq ft of flexible space across four storeys, drew significant interest from local and regional buyers.

The firm added that its proximity to Derby’s flagship regeneration projects, including the regeneration of Becketwell and the new University of Derby Business School helped make the property an attractive proposition.

Cameron Godfrey, surveyor at BB&J Commercial, who oversaw the sale, said: “There is a clear trend emerging in Derby city centre, where there has been a noticeable increase in independent business owners looking for well-located, characterful properties to establish and grow their businesses.”

Meanwhile, BB&J says the city’s rental sector remains buoyant, underlined by the joint sale of two prominent Georgian era properties in Derby city centre.

The firm has sold 58 and 59 Friar Gate – two adjoining Grade II Listed HMO (House in Multiple Occupation) properties.

According to BB&J, the deal reflects a wider trend in Derby’s investment landscape, as buyers look to secure compliant HMO stock ahead of the city’s forthcoming Article 4 direction, which will restrict new HMO conversions in certain areas.

Cameron, who also oversaw this transaction, said: “The level of interest we received for these properties highlights the ongoing strength of Derby’s HMO market.

“Given their location and stature, we saw significant buyer engagement early on, leading to a best and final bids process that created a highly competitive environment.

“With Derby’s upcoming Article 4 direction, the demand for well-established, fully compliant properties like these is only expected to rise.

“Investors are increasingly seeking opportunities in prime locations where supply is becoming more limited, and the sale of 58 and 59 Friar Gate reflects this trend.

“It’s a great result for our client and a sign of the growing confidence in the city’s rental sector.”

Staying in the city centre, Salloway Property Consultants has successfully completed the letting of a prime city centre former office and training facility.

Potters House Christian Fellowship, a global network of churches, has secured 2-3 St Peters Churchyard, further expanding its presence in the community.

It will serve as a central hub for the congregation’s worship, community outreach and various social initiatives.

William Speed, of Salloway Property Consultants, acted on behalf of a private landlord client to secure the new tenant for the 12,000 sq ft building after development attempts were unsuccessful at the property.

He said: “I’m delighted to be able to let the property to a group that will add back to the local community.

“The building at St Peters Churchyard offers a wonderful space for both worship and community outreach.

“It is a prime example of repurposing city centre property to encourage more people to use the city centre.

“It is no secret that Derby city centre has been struggling in recent years but with new developments such as the Becketwell scheme, the Nightingale Quarter and the upcoming Friar Gate Goods Yard there is real confidence that these developments will return the city centre to its former glory.”

Elsewhere, Salloway is celebrating five new deals at a business park in Derby created by Ivygrove Developments.

The firm has recently sealed a quintet of deals at Eagle Park, including the letting of four industrial/trade counter units and the sale of one investment property.

The deals include contract electronics manufacturer Tioga, which secured an additional 2,276 sq ft at Unit 3 to support its ongoing growth.

William said: “Eagle Park is a thriving, multi-purpose trade counter and industrial development, providing an excellent mix of national and local businesses.

“It has turned out to be one of Derby’s most successful business parks, and I’m delighted that we have been able to consistently achieve great results for our clients on site.

“Following on from the success of Eagle Park, Ivygrove is now progressing at speed with its latest scheme, Merlin Park, in Osmaston Road.

“I’m confident this new development will be equally well received.”