A Derby industrial complex has new owners for the first time in nearly 100 years.
The 1.3-acre site on Bateman Street had been the home of chemical and cleaning product manufacturer Quadralene since 1930. However, Quadralene was acquired by global medical technology leader, Getinge in 2020 and the plan was to relocate Quadralene into new premises on Pride Park.
Salloway Property Consultants were appointed by the property owners to assist with the gradual relocation of Quadralene and to sell the property once it had been vacated. The premises, which comprise a number of interconnecting buildings totalling some 26,000sq.ft. on a large site, had been adapted to suit Quadralene’s specific use.
“I am thrilled that the sale has now been completed” reports William Speed of Salloways. “It was very unlikely that an occupier would be found who could utilise the site in its current configuration and so it is no surprise to see that the new owners intend to regenerate the site.”
“Despite a constant flow of enquiries since the site came to the market, it wasn’t a straightforward process, but it’s great to reach a satisfying conclusion for our client here.”
2i Investments, the new owners, are delighted with the purchase and are looking forward to making a start on the redevelopment. A spokesman said “We have a number of plans for the site currently with different options presenting themselves. Ultimately, we are hoping to develop something that is attractive to the current market and offers flexibility to any occupiers that may be interested.”
Speed concluded “There is an acute shortage of small to medium sized sites suitable for redevelopment for light industrial units and despite its challenges, the Bateman Street site could have been sold several times over. We would be delighted to hear from anyone considering selling similar sites.”
