Major Derby deals boost agents’ annual performance

Major property deals in Derby have boosted the annual results of commercial property agents Innes England.

Large transactions that boosted the firm’s bottom line included deals at St. Modwen Park Derby, a brand-new business park being created by St. Modwen Logistics.

Innes England, which has offices across the East Midlands, secured more than 200,000 sq ft of deals in phase one of the flagship industrial and logistics development on Pride Park.

Major names that have so far signed up for space at St. Modwen Park Derby include heating technology manufacturer Vaillant and Swedish medical technology firm Getinge.

Innes England’s results showed that overall,  Derby’s industrial real estate take-up continued its acceleration last year, with 1.2 million sq ft of space being acquired – up from 891,000 sq ft and the second-highest take-up on record.

Nick Hosking, Innes England’s director and head of agency and development in the city, said: “Derby’s industrial figures have never been better and with demand continuing to outstrip supply we see that trend continuing this year.

“The developer St Modwen has invested £50 million into the local economy over the last 12 to 18 months, with the delivery of 300,000 sq ft of new build grade A warehousing accommodation.

“Following the success of phase one it is really encouraging news that St Modwen will shortly deliver the next phase with the development of a further 350,000 sq ft, given industrial supply in Derby remains extremely thin on the ground.”

Vaillant’s new production site at St. Modwen Park Derby, will create more than 200 jobs.

The custom-built site is due to open in the autumn to allow Vaillant, which has its UK headquarters at Belper, to meet increasing demand for heat pumps.

Meanwhile, Getinge is aiming to create a new global centre of excellence for chemistry and its UK headquarters at St. Modwen Park Derby.

Nick said: “Attracting Getinge to the scheme is really positive news for Derby, enabling its continued expansion and securing valuable hi-tech jobs within the city.”