Pictured above: Hilton Business Park

The UK's leading regeneration specialist, St Modwen, has given the East Midlands' commercial property market a boost with the announcement that it has completed deals on more than 55,000 sq ft of commercial space across the region since the beginning of May, including a £2.4 million long leasehold sale and three lettings.

At Stretton Business Park, 10 miles south of Derby, St. Modwen has sold the long leasehold on units 4 to 7 to Kingsilver Properties for £2.4 million.  Amounting to 41,125 sq ft, the transaction involves a significant proportion of the 67,000 sq ft business park which is located half a mile from the A38/A50 corridor, just two miles from Burton upon Trent town centre.  There are currently just two units of 8,120 sq ft and 8,820 sq ft available for sale or to let within this phase of the scheme.

St.Modwen has also completed two lettings at Hilton Business Park in Derbyshire, leaving just two units remaining at the 49,250 sq ft scheme.  Unit 1A has been let to Jangala Limited on a 10 year lease, with the 6,000 sq ft unit secured at an annual rent of £31,000.  Family-owned Stillwater Narrow Boats, manufacturers of bespoke narrow boats for the last 18 years, has also let the 5,250 sq ft unit 3C at Hilton Business Park on a 12 year lease at an annual rent of £27,563.

Hilton Business Park is a scheme of 10 high quality individual business units less than a mile from A50 and approximately three miles west of the junction with the A38 at Burnston. Just one unit of 6,000 sq ft is currently remaining at the business park, with another unit of the same size now under offer. Rushton Hickman and Lambert Smith Hampton are St. Modwen's appointed agents at Hilton Business Park.

At Bestwood Business Park in North Nottingham, Salvus Environmental Services will join existing tenants including Corus and NCP after agreeing a three-year lease on the 4,160sq ft unit 5F for an annual rent of £15,000.  Fisher Hargreaves Procter acted on behalf of St. Modwen.  Situated off Park Road in Bestwood Village, Bestwood Business Park comprises 15 industrial/ warehouse units across a 14-acre site.  It is located three miles from junction 26 of the M1 motorway and five miles north of Nottingham city centre.  

Jonathan Green, development surveyor for St. Modwen, said: "The last two months have seen a raft of deals across St. Modwen's East Midlands portfolio and this level of activity demonstrates that the region continues to be an attractive and commercially viable location for growing businesses.  St. Modwen remains committed to boosting the prosperity of the East Midlands with the provision of strategically located business space and we are buoyed by the fact that investors and occupiers are also clearly giving the region their vote of confidence."