Innes England has negotiated the latest lease renewals at Midland House; a landmark office building situated next to the railway station in Derby.
Following the lease renewal of part of the ground and the whole of the second floor to the Balfour Beatty Group, Innes England has now also completed the remaining ground floor lease renewal to Signalling Solutions Limited.
Signalling Solutions offers turn-key solutions to the rail industry and is a company formed by combining the complementary signalling resources and products of Alstom Transport Information Solutions UK and Balfour Beatty Projects.
Tim Richardson, of Derby property consultants Innes England, who acted on behalf of the landlord, said: “We are pleased that both Balfour Beatty and Signalling Solutions have seen the benefits of this building and terms were agreed for their respective lease renewals.
“The property extends to some 56,000 sq ft arranged over three floors and comprising a former Victorian railways office building which has been refurbished and altered. Midland House benefits from excellent transport links being next to the mainline railway station.”
Midland House is within walking distance of Derby bus station, Westfield and city centre facilities and offers easy access to the A6 London Road, inner ring road and Pride Park.
Tim added: “We now have the first floor remaining which extends to some 19,000 sq ft, available in suites on competitive rental terms. The building benefits from extensive on-site car parking which is otherwise difficult to find within the city centre.”
Commenting on the wider commercial property market, Tim said: “Derby performed well in 2010 with the city remaining the UK’s leader in employment per capita in high technology engineering. Derby’s office sector remains robust thanks to such a firm demand from the rail and engineering sectors.”
Balfour Beatty was represented by Derby-based commercial property surveyors Roger A Kington.
Signalling Solutions Ltd was represented by the London office of Cyril Leonard.
