Derby's premier commercial developers, Ivygrove have secured a landmark 65,000sq.ft warehouse deal to Derby firm SGS Engineering at Westside Park - a gateway industrial development scheme at the junction of Raynesway and A6 Alvaston Bypass.
SGS are the largest manufacturer of NitroLift gas struts in the UK and have engineered and supplied products to a number of landmark clients including use in the construction of Wembley Stadium.
Complex negotiations took over 12 months to complete due to changes in design to cope with the rapid expansion of SGS, with the original building requirement being increased in size from 30,000 sq.ft. to 65,000 sq.ft.
Managing Director of Ivygrove Developments John Blount was instrumental in pulling together the agreement - understood to be worth in the order £5m - one of the largest transactions Ivygrove have been involved in.
A strong advocate of enabling the growth in local businesses, Mr Blount highlighted:
"SGS have once again been a pleasure to deal with and I am delight that we have been able to accommodate their requirements at Westside Park and retain such a well-known and well-run manufacturer"
Andy Wyatt, Managing Director of SGS was equally pleased to source the new building through Ivygrove. He said: Having originally moved to Westside Park our business just hasn't looked back. It is a huge testament to Ivygrove's ability that they have been able to deliver the building we wanted in the same location. This gives us a platform for sustainable growth"
Ivygrove Developments were assisted in deal by their established Derby-based professional advisory team of Lewis Rose OBE at solicitors Flint Bishop and Stephen Salloway at agents Salloway Property Consultants.
Mr Salloway commented: "This has been an extremely complicated deal to put together, requiring patience and tenacity by all involved.
"The new building straddles two parcels of land we previously acquired for Ivygrove. However, the latter parcel was subject to a number of covenants that impose demands on the timing, use and structure of the development project. Working through these to enable the 65,000 sq.ft deal to SGS has taken a colossal effort."
SGS is a proud UK manufacturer and real post-2008 'credit-crunch' success story and Ivygrove Director, Richard Blount, explained their efforts to accommodate them:
"SGS originally moved to Westside Park in 2012 - taking a 12,000 sq.ft unit – which they have now completely outgrown. One of our main strengths is to accommodate companies with temporary space until new premises are constructed. As an interim measure, we were able to provide 20,000 sq.ft. of workshop and warehouse facilities at other locations to enable SGS to cope with demand of their products.
"This type of collaboration is beneficial to both parties and I think really highlights Ivygrove core value to assist growth of local businesses."
The announcement of the SGS deal at Westside Park coincides with the release of the final phase of availability at the development. Mr Salloway concluded: "There are now just four remaining building plots available at Westside Park. These can accommodate industrial warehousing from between circa 9,000 to 16,000 sq.ft. The quality of building product provided by Ivygrove is there for all to see with Derby manufacturers EPM Technology, Quality Control Technology and SGS Engineering all taking advantage of the excellent benefits of the site."
Marketing Details for the remaining opportunities at Westside Park can be found here.