Bond Wolfe seals £1.3 million sale of Derby retail unit

We are pleased to share that we have secured the rapid £1.3 million sale of a unit on Derby’s Southgate Retail Park to Connect Derby Properties Ltd.

The modern retail unit has The Gym Group as its long-term tenant on a reversionary lease until 20 March 2031. As a result, the 11,643 sq ft purpose-built unit is currently generating a passing rent of £97,344 per annum exclusive, representing a low £8.36 per square foot.

The Gym Group has leased the unit since 2011. Southgate comprises 48,000 sq ft of retail space, anchored by a Lidl store. Clark Brookes Turner Cary Solicitors in West Bromwich acted for the seller, and Elliot Matther in Derby advised Connect Derby Properties Ltd.

James Mattin, managing director at our commercial agency said: “We are pleased to announce the sale of this key retail investment on Southgate retail Park. The property went under offer very quickly after we received multiple bids, demonstrating further evidence of the demand for these types of assets from the private investor market.”

“We are shortly releasing a number of similar opportunities in the area and would be pleased to discuss specific requirements from investors looking for opportunities.”

If you have a commercial property that you are considering selling or letting, we have an active database of buyers across the UK who are ready to proceed.

Those interested can contact Mr Mattin on 0121 525 0600, 0121 524 1172 or by email at [email protected].