Derby residential schemes sold in £3m deal

Bradley Court

PMW Property has sold two apartment blocks in Derby as it looks to divest of its residential portfolio.

The sale of St George Court and Bradley Court, to an unnamed purchaser in a deal worth £3m, comes as Ashbourne-based PMW re-evaluate their portfolio, concentrating their interests in the commercial property market.

Built in 2008, St George Court includes 14 city centre apartments on George Street in the city centre conservation area, close to the historic Friar Gate.

Bradley Court, on Cameron Road one and a half miles to the south of Derby city centre, is a development of 17 one-bedroom apartments, let on Assured Shorthold Tenancies (ASTs). It was built by PMW in 2004.

“We have received a lot of calls,” says PMW property manager, Rachel Walton. “Tenants do come and go, but there is always someone waiting for an apartment to become vacant. We don’t have to advertise the property and we have never had an apartment standing empty. It has been a great success.”

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