Pictured above: Richard Kay, Financial Director at Russell Hume and Chris Carlisle, managing director of Cedar House Investments

There continue to be signs that the state of the local economy is improving as developers Cedar House Investments announce another sale at The Point Office Village, its high profile mixed use scheme on the site of the former Bombardier bogie and signalling works to the west of Pride Park.

The company has agreed the sale of a 5,300 sq ft office facility, within the impressive 12 acre mixed use scheme, with Russell Hume Limited, a national specialist supplier of quality meat, game and poultry into hotels and restaurants.

Russell Hume already has offices in Birmingham, Exeter, Boroughbridge, Liverpool London and Edinburgh and this deal, for their new corporate centre, forms part of the company's on-going expansion plans. The company is growing rapidly into new areas of WEB based sales and sales through television shopping channels.

The Point is one of the biggest and most high profile developments ever seen on Pride Park. When complete, it will see the roll-out of an additional 300,000 sq ft of commercial accommodation. It is home to the first serviced office accommodation on Pride Park and the Ramada Encore Hotel Handelsbanken, PX Tech and Franklands.

Only one unit now remains for sale or rent within phase one of the Office Village scheme. A planning application for the next phase has now been submitted with construction scheduled for the turn of the year.

Commenting on their decision to open new offices at The Point, Richard Kay, Financial Director at Russell Hume, said:

"The Point's prime location in the city, coupled with the strength of Pride Park as a business destination, made The Point the ideal location for our new offices.

"It is rare to find a site with such good road links and within such close proximity to both the railway station and the city centre," added Richard.

Commenting on the deal, Chris Carlisle, managing director of Cedar House Investments, said:

"The Point is one of the most significant development opportunities ever seen on Pride Park and is continuing to attract high profile occupiers despite the current downturn in the market.

"Over the past ten years Cedar House Investments has developed more than 500,000 sq ft of commercial space on Pride Park, which stands us in good stead at a time when many developers are experiencing difficulties selling and letting property."

Cedar House Investments continues to extend its development programme across the Midlands and its portfolio now totals more than £75 million.

It includes high profile sites in Ashby, Rugby, Northampton, Corby, Tamworth and Stoke-on-Trent, along with the redevelopment of the 35 acre former Nestlé site in Ashbourne.

The company won the title of Commercial Developer of the Year 2009 at the East Midlands Property Dinner and Property Company of the Year at the 2009 regional Estates Gazette Awards.