A 7-acre site, previously occupied by Rolls-Royce, has been purchased by Derby-based developer Ivygrove.
The site, which is located on Dunstall Park Road, just off Ascot Drive, provided car parking facilities for the Rolls-Royce workforce before Rolls-Royce vacated its Nightingale Works.
Once the lease to Rolls Royce expired, the London-based investors who owned the site decided to put the site up for sale through FHP.
Ivygrove, which specialises in providing workspace for the Derby market, was quick to seize the opportunity. Chairman John Blount sees the site as a perfect fit for Ivygrove's products. "It was obvious to us that the site was ideal for our Industrial Units. We agreed terms to buy it soon after it came to the market."
Ivygrove are currently developing Units at their Eagle Park and Westside Park sites and Dunstall Park will ensure continuity and provide a steady stream of New Build Units in the Derby area.
Mr. Blount believes such developments have a wider effect on the market. "New development creates turnover in the market and releases older type buildings, of which there is a general shortage, particularly on the established Industrial Estates. If companies cannot find suitable new premises, they will stay where they are much longer, creating the shortage. Our buildings will free up this log-jam."
A planning application has just been lodged with Derby City Council and Stephen Salloway, of Ivygrove's agents, Salloway Property Consultants, commented, "The proposal is to build up to 20 Units totalling 80,000 sq.ft. and ranging from 3,000 sq.ft. to 15,000 sq.ft. The timing is excellent as we are seeing increasing levels of demand across the board for small to medium-sized Industrial Units. Dunstall Park fits the bill perfectly."
"We believe there is a good appetite for the Ivygrove product in this size range and location and I anticipate good levels of early interest from pent-up demand. Indeed, we already have two serious enquiries from major organisations. It is great news for the local economy and fits well with the concepts of the Industrial Strategy."
Ivygrove are at the forefront of Derby's industrial property market and this new development sits perfectly with their strategy to maintain a constant supply of new, existing and bespoke units. They are currently the only Company in the Derby area who construct speculatively, due to the strength of their Commercial Portfolio and support from their Funders, NatWest Banking.
The first units should be available in early 2018, dependent upon receiving planning consent, and timescales attached to dealing with Pre-start Conditions. Interested parties are advised to contact Stephen Salloway at Salloway's Derby Office, 01332 298000 or firstname.lastname@example.org