Pictured above: Jonathan Green
St. Modwen, the UK's leading regeneration specialist, is defying
current market trends with a raft of deals amounting to almost
£1.5 million completed throughout Derbyshire this summer.
Central to its portfolio of commercial property schemes across
the region, the 79 acre Hilton Business Park has been the focus of
much of the recent deal activity. Here the £600,000
investment sale of two business units totalling 8,000 sq ft has
been completed to a private Self Invested Personal Pension (SIPP).
A 6,000 sq ft unit at the business park has also been let to
Naturally Marble with a stepped rent of £21,600 per year.
Situated less than a mile from the A50, Hilton Business Park is
approximately three miles west of the junction with the A38 at
Burnston. Plot two within the scheme includes 10 high quality
individual business units ranging in size from 4,000 sq ft to 6,000
sq ft. As a result of heightened interest in plot two over
recent months, just one 6,000 sq ft business unit is now remaining
and available to let or for sale.
Within the remainder of Hilton Business Park a deal was also
completed to Freight Management European Limited for 75,000 sq ft
of space facilitating the expansion of the locally based company.
This leaves existing warehouse premises available to let from
12,500 sq ft to 150,000 sq ft on flexible and competitive
terms.
Elsewhere in Derby, St. Modwen recently completed the sale of
five acres of land at Cradley Hill in Swadlincote to Keystone
Holdings in a deal worth £665,000.
Jonathan Green, surveyor for St. Modwen, said: "The summer
months are typically marked by a slowdown in deal activity; however
this year St. Modwen has bucked this trend. We have
experienced high levels of interest in our Derbyshire portfolio,
and many of the enquiries we have received have now culminated in
completed deals. This is a strong sign that occupiers are prepared
to take decisive steps to invest in the future of their business,
and likewise investors are showing their confidence in the long
term value of commercial property.
"Anecdotal feedback from occupiers suggests they are attracted
to business parks such as Hilton because of their strategic
location close to a good communications network and the secure
layout and design of the site. The opportunity to be part of
a thriving new business community and flexible deal terms available
are also key. As a result of the strong appeal of Hilton
Business Park, there is now only one unit available to let or for
sale within plot two; and as we move into the autumn months with a
healthy level of enquiries, we would urge those interested in
locating their business here to act quickly."
Paul Rushton of commercial property consultants Rushton Hickman
added that the range of increased activity was reflective of the
improvement in market conditions generally: "There appears to be
generally more confidence expressed by potential occupiers and the
increased level of enquiries and viewings is resulting in more
offers and completed deals."