Flint Bishop has helped Ivygrove Developments acquire the freehold of the 15 acre Draka Cables site from parent company Prysmian Group.
The acquisition allows Ivygrove Developments to demolish all but a few of the old industrial buildings on the site and start anew.
The scheme will be made up of units ranging from 3,300 sq ft upwards.
Ivygrove Developments’ Managing Director John Blount said:
“I am delighted that we’ve been able to secure this prestigious site.
It is a perfect fit for the company’s business model of building small and medium-sized industrial units for the Derby market.
Most of the existing buildings are obsolete and will be cleared, allowing us to provide a range of new units in the Ivygrove Developments style.”
Lewis Rose OBE said:
“I am delighted to have helped my long-standing client Ivygrove Developments with the acquisition of another high profile site for redevelopment.
The commercial property market is very healthy in Derby, and there is a shortage of the type of quality developments that Ivygrove Developments build. So I am confident this will be a success as their other developments on Alfreton Road and Mansfield Road.”
Stephen Salloway, a Senior Partner of Salloway Property Consultants, was the agent for the deal.
Previous owners of the property were Draka UK, a brand of the Prysmian Group, a world leader in the energy and telecom cables and systems industry.
However, Draka UK ceased manufacturing at the site at the end of September 2012.
For more information, please contact our Commercial Property team on 01332 340 211.