Derby is fast-becoming a major player in the Midlands property market and has been labelled a city on the up which punches well above its weight. But what have been the key milestones in Derby’s regeneration that have acted as a catalyst to the city’s standout growth?
Derby-based director of Innes England Nick Hosking has been with the firm 20 years and
has extensive knowledge of Derbyshire and its commercial property market. He has selected five of the most memorable deals which have been secured in the city since he joined Innes England.
Letting of Jubilee House to Rolls Royce – 2002
- 73,000 sq ft Grade A office space
- Jubilee House is located on Pride Park, which has become widely recognised as one of the most successful regeneration projects across the country over the last decade
- The office was visited by Queen Elizabeth during her Golden Jubilee tour of Pride Park in August 2002
- This deal was secured on behalf of AEA Technology
In Nick’s opinion the deal, which took place 15 years ago, is one with the most importance to Pride Park. He said:
“This was not only the largest office letting in Pride Park history but was also to Derby’s largest and most well known employer Rolls Royce. This landmark deal was instrumental in positioning Pride Park as one of the region’s most successful business parks “
Letting of Heritage Gate to Derby City Council – 2010
- Facilitated a £35 million refurbishment of the Council House
- 100,000 sq ft of office space
- Lease secured over three adjacent buildings within the same scheme
- This deal was secured on behalf of Aviva Life and Pensions
This deal helped Derby City Council to facilitate its £35 million refurbishment of the Council House, Nick said: “The council had been reviewing its property strategy for some time which led its team to letting Heritage Gate. With limited options in the city for so much office space, it was a challenge to find one location where all of the staff could be housed together to maintain an effective way of working while the Council House was refurbished.
“Heritage Gate’s three buildings enabled all of the council’s employees from the Council House to be temporarily housed while it underwent a programme of refurbishment.”
Letting at Derby Commercial Park to Kuehne and Nagel – 2013
- Largest ever industrial pre-let within the city of 632,000 sq ft
- Awarded ‘Deal of the Year’ title at East Midlands Property Dinner awards in 2014
- This deal was secured on behalf of Goodman Logistics
Nick who acted as joint agent on behalf of international developer Goodman Logistics said: “This deal to Kuehne + Nagel Drinksflow Logistics for Heineken’s national distribution centre was the largest ever pre-let within the city and helped to reinforce Derby’s position on the regional distribution map’
Letting of One Friar Gate Square to University of Derby – 2015
- £20 million grade A office space
- 30-year lease for the 33,000 sq ft building
- The deal was secured on behalf of developer Lowbridge
Speaking of the deal, Nick said: “One Friar Gate square was the first new office development in Derby city centre for over two decades and raised the bar for the quality of grade A space available in the city.
“Thanks to its modern design One Friar Gate Square was snapped up by the University of Derby, which was looking for space in the heart of the city for its students. The building now houses the university’s Department of Law and Criminology.”
Sale of Derby Distribution Centre to WM Morrisons – 2015
- Derby’s largest second-hand distribution hub
- 400,000 sq ft of industrial space
- This deal was secured on behalf of Hudson Advisors
Speaking of this deal, Nick said: Over the past decade we have let over a million square feet of space at Sinfin Commercial Park and the adjacent Derby Distribution Centre. It has always proved successful, offering reasonably priced, well-serviced warehousing space capable of accommodating requirements from 80,000 sq ft up to 400,000 sq ft. This deal enabled us to tip our transactions at Derby Distribution Centre over the million-square foot milestone and helped boost industrial take-up that year to a record high’
