The East Midlands


Derbyshire - Sustained Demand Leading to Stock Shortage “The recovery is


strong and


sustained – all we need now is an increased supply of land and buildings to meet the demand..”


That is the view of Stephen Salloway, one of Derby and Derbyshire’s most respected commercial property agents.


Stephen Salloway


Stephen admits that last summer was one of the most difficult of his career with deals completely drying up.


But now the market has bounced back with gusto and Stephen says: “There is a massive appetite to invest in property, people are even battling for it.


“It shows that buyers believe that property is a very sound investment and that the economy will come back strongly.


“In the last few months, we have let the old Barclays Bank building on Sir Frank Whittle Road, Derby to the Department of Work and Pensions, been excited to be involved in accommodating the Great British Car Journey at Derwent Works in Ambergate and done a deal at Dove Valley Parkin South Derbyshire for a massive Lidl bottling plant.


“Freehold industrial and warehouse property is particularly sought-after with smaller units appealing to private investors who want to lease to small companies while the appetite of institutional investors for large distribution centres continues unabated.


“In retail, there is still focus on convenience shopping where ‘on the


Infrastructure Contractor Appointed at East Midlands Logistics Scheme


Developers of an eight unit landmark warehouse and logistics scheme totalling 1.4m sq. ft off junction 29a of the M1, have appointed a contractor for the off and on-site infrastructure.


Bolsover Land Limited, a joint venture between St Francis Group and iSec, have selected civil engineering and earthworks specialists, Buckingham Group Contracting Ltd, to carry out the £7m contract at Markham Vale’s Horizon29.


New access roads and an improved approach road will serve four development plots which will feature a range of speculative and build to suit premium industrial units from 113,000 sq. ft to 325,000 sq. ft to meet occupier demand.


The plots, on the site between Sheffield and Nottingham, are available on a leasehold or freehold basis.


Gareth Williams, Development Director of St Francis Group, a brownfield development and regeneration specialist said: “We and our partners, iSec, have a strong and productive track record with Buckingham and are delighted to be working together again to deliver significant road improvements and infrastructure works at Horizon29.


“This is an exciting phase for this landmark project. With the entire site now cleared you can really see the scale of development proposed at Horizon29, and infrastructure work is the next key stage, providing vital works access and shaping the extensive landscaping provision which will help set this scheme apart from similar developments.”


Knight Frank Sheffield and CBRE Leeds are joint agents on Horizon29. 40


doorstep’ and ‘easy to park’ options are favoured rather than going into city centres.


“This has been seen with most major food store operators still keen for more convenience store sites and the popularity of drive-through coffees and fast-food.


“There is movement in small towns - we let shops recently in Belper, Alfreton and Ripley and in Mickleover, near Derby, where six from eight units have been taken on a retail development on the site of a former garage.


“Ironically, I believe that retail, especially independents, may benefit in the long-term from the isolation people have experienced during the pandemic. They now cherish their time out of their homes.


“Meanwhile, we are still waiting to see how office market will emerge. Many of the offices on Derby’s prime business park, Pride Park, remain empty or partially occupied but they are slowly filling again.


“Some companies are suggesting they will continue with home-working but I think within two or three years, there will be an employee-driven return to the team environment which offices provide.


“Following the early and unsurprising malaise following the onset of the pandemic, I am pleased that the market has strengthened so quickly – we just need more real estate opportunities to feed demand.”


For further detail please visit: www.salloway.com


derby@salloway.com tel: 01332 29800


Positive Activity Continues for the Office and Industrial Sector


FHP report that 2020 was undoubtedly the year when everyone’s lives changed substantially and the face of the commercial property market changed too. Whilst fearing the worst, it saw unprecedented levels of demand and a limited supply which seemed to go against all experts’ expectations.


Reflecting back on early 2021 now, there is no doubt it was challenging but not in the way we were all quite expecting. One year onfrom the outset of the pandemic, and FHP’s in-house statistics show the Office and Industrial team at Derby and Nottingham are on track for a record year!


They have been extremely busy in Q1 2021 speaking with multiple parties still interested in taking on new space. Whether Covid-19 has given them the push to start a new business venture, or that their business has continued to thrive and consequently they were seeking space for expansion, people were still enquiring, and deals were still being done.


Throughout January to March 2021, they received the highest numbers of weekly and monthly enquiries in the industrial and distribution sector they have ever seen, resulting in record numbers of viewings and indeed deals. March was a particularly active month; their data is reflecting a 138% increase in enquiries compared against the average for March over the last 4 years. Perhaps this is down to the positivity of the current vaccination rollout or the excitement of lockdown coming to an end – whichever it may be, there is certainly some regained confidence in the future of businesses.


In the office sector as well, they are now seeing real signs of revitalisation in the market – have we all become tired of working from home? Certainly, that seems to be the case and space is moving and enquiries are increasing week by week. It seems likely that this trend will continue as well.


COMMERCIAL PROPERTY MONTHLY 2021


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