Judging by the activity in the office during the first two weeks of January, there is no shortage of confidence in the property market. We have seen activity in all sectors from investor-buyers queuing up to acquire an HMO conversion prospect on the edge of the city centre to owner-occupiers wanting to buy a quality industrial unit in Alfreton – levels of interest in both leading to 'best-and-final' offers being sought.
A significant office letting is nearing completion and the lease of a 30,000sqft industrial unit for an exciting new leisure venture is making good progress. Modern workshop units still seem to be in vogue, with two units going under offer to occupiers at Ivygrove's successful Eagle Park scheme.
The appetite for investment in real estate is certainly not letting up with increasing numbers of investors chasing too few opportunities but it is encouraging to see healthy demand from occupiers too, where industrial units remain keenly sought-after. The agreed sale of a vacant modern unit on Raynesway to an investor bears testament to this.
And 2021 could see a lot of development activity. Conder Developments are in for planning on a 190,000sqft unit at Dove Valley Park, two deals are progressing nicely at Infinity Park Derby, Revelan are close to completing a 13,000sqft unit with 28,000sqft to follow, and expect more 'spec-build' at Ivygrove's Dunstall Park alongside the new Police Station which is due to complete in the summer.
Away from industrial, the erection of the steel frame at Limes Corner – the prime suburban retail scheme in Mickleover – means a Spring completion for the impressive scheme. 6 units have been pre-let and the last 2 units are now being launched.