The former Derby Wholesale Market, which is situated off Pentagon Island, Derby, has been sold to Richford Motors in a multi-million pound deal.
Joint agents FHP Property Consultants and Commercial Property Partners secured the deal on behalf of Rotherhill Developments.
Richford Motors will occupy the site to service a number of contracts across Derby.
The 3 acre site comprises a 25,000ft2 warehouse with ancillary buildings, with the remaining area comprising hard surfaced storage land.
Darran Severn, director at FHP Property Consultants, said: “This must be one of the most prominent sites in Derby and I am pleased to have completed the sale in what has been a great result for all parties involved. We received significant interest from day one from both owner occupiers and developers. There were over 40 credible enquiries which we were able to whittle down to 9 serious offers, eventually going under offer to Richford Motors.”
Edward Jeffrey of Rotherhill Developments said: “We are very pleased to have successfully completed a sale of the former Derby Wholesale Market site to Richford Motors having explored a range of development options. This is a well-configured site of scale with frontage to Derby’s principal access corridor, demonstrating excellent fundamentals. It was a pleasure to work with Richford Motors who were efficient and delivered. Our thanks go to joint agents FHP and CPP, together with our legal advisors, Howes Percival, for acting on our behalf.”
Sean Bremner, director at Commercial Property Partners, said: “From the inception of this project we were all very confident this would prove to be an attractive opportunity to offer to the market. Numerous enquiries from a wide range of end users were forthcoming all wanting to take advantage of the profile and flexibility that the site offered. Congratulations to Richford Motors for securing it.”
