Redeveloping old sites brings not only financial reward but also both agents and developers can take pleasure in seeing an area revitalised after prudent expenditure.
Completing a redevelopment which achieves all of these aims is never easy but pleasingly Tim Gilbertson of FHP in conjunction with his client James Richards of CWC Group have met these aligned goals in the redevelopment and subsequent re-letting of two trade counter units on Newmarket Court, fronting Ascot Drive in Derby.
The final unit in the block is now available on a new lease, with strong interest experienced already.
Tim Gilbertson commented:
“This site had stood vacant for 10 years or more, comprising former industrial and office space in the heart of Derby’s industrial and trade centre district.
With main road prominence in a location favoured by trade counter operators in the City, in conjunction with my client James Richards of CWC Group I targeted this site and negotiated the acquisition of the existing buildings from the former owner in an off-market transaction.
Having knowledge of two or three trade counter operator requirements in the region, simultaneous to the acquisition of the space pleasingly we agreed deals with Graham The Plumbers Merchant and Ceramic Tile Direct.
The last unit of 268m² (2,891ft²) is now being marketed and I would be delighted to hear from any potentially interested parties.
The success of this scheme and transformation of the site relied wholly on our client’s long term vision and working with them once again it was a pleasure to see this site initially bought, transformed, and re-let becoming the fabulous trading environment we see today.”
James Richards, Development Director at CWC Group commented:
“As property developers and investors, CWC Group are always looking for opportunities to purchase and add value to the redevelopment of our sites, this is particularly true when we can not only add value and create investment income but also improve the vitality of an area too. When Tim came to us with this scheme we were delighted to purchase the site and fund the redevelopment creating fabulous trade counter space.
Our appetite for similar schemes or indeed land for development remains consistent, in good times or bad we are always looking for opportunities like this and we hope that working with Tim at FHP again we can unlock further schemes and opportunities not only in Derby and surrounding areas but also throughout the East Midlands and beyond.”
