Graham Bancroft, Associate at Salloway Property Consultants has successfully disposed of a retail property on the outskirts of Derby City Centre to Ladbrokes Betting and Gaming Limited.
The relocation of Mary Louise Flowers from 72 Monk Street to their new premises on Humbleton Drive, Mackworth after over 30 years in the property led to the decision to dispose of the building. Despite the dilapidated condition of the building the property generated good amounts of interest locally and a sale was agreed very quickly.
However, due to Salloway's knowledge of requirements currently in the market, a deal was agreed for the disposal to this large national chain. Graham Bancroft, who negotiated the terms on behalf of his client said "The location of the property is extremely good with high visibility from Derby's Inner Ring Road. Due to the amount of high density housing surrounding I believed that it would ideally suit a bookmaker and after fairly straightforward negotiations an asking price offer was agreed".
"I am delighted to have achieved a disposal to Ladbrokes and I am sure that their presence in this location will be a success and will help footfall for the surrounding retailers. The proposed investment by Ladbrokes into refurbishing the building is estimated at circa £200,000 which will also help the surrounding area".