The owner and operator of the nation's railway infrastructure, Network Rail, has agreed to lease one of Derby's most prominent industrial warehouses at Millennium Way, Pride Park.
The 30,000 sq.ft unit, which is located opposite Derby County's Pride Park Stadium, has been let after a successful marketing campaign by local real estate experts Salloway Property Consultants.
Network Rail is the organisation charged with delivering the £2 billion Midland Mainline Enhancement Programme which is scheduled to upgrade the infrastructure to a fully electrified train service by 2023 and the leasing of Millennium Way will help with the delivery of this important regional project.
The high-quality manufacturing and workshop facility only become available after Chromalloy, parent company to existing tenant Trac Group, chose to relocate their Pride Park operations to a new base in North Derbyshire.
The deal was put together by Chris Keogh, Associate at Salloway's Pride Park HQ acting on behalf of Trac Group and he summarized:
"To have landed a covenant of the caliber of Network Rail is obviously a welcome result. There is an acute shortage of good quality warehouse space on the market and I am sure Network Rail will be delighted not only to have found the right building solution but crucially, one that is within short proximity of their existing facilities in Derby."
"There is no doubt in my mind that this underlines Derby's importance to the national rail network."
The sublease was signed shortly before the Christmas break and Network Rail have now taken occupation and the deal will initially see Network Rail occupy the warehouse for potentially 4 years.
Should you be considering the sale or lease of a commercial property please do not hesitate to contact Salloway Property Consultants at firstname.lastname@example.org or 01332 298000.