Derby office building sold to Staton Young

FHP Property Consultants has brokered the sale of Litchurch Plaza, Derby to local investors Staton Young Group.

Litchurch Plaza, located off Litchurch Lane, is a 22,137ft², five storey multi-occupancy office building.The property was 70% let on completion, producing an annual net income of circa £140,000 per annum.

Darran Severn of FHP Property Consultants said: “I am delighted to have been able to complete the sale of this property. We received a good level of interest from local and regional investors, which enabled us to secure an excellent result for our client. Here at FHP, we have a strong database of active investors, and I would be more than happy to discuss any opportunities with local landlords.”

Marc Brough director of Staton Young Group added: “I am extremely pleased with the acquisition of Litchurch Plaza and am very much looking forward to meeting our new tenants. Litchurch Plaza is the third serviced office building we have purchased during the last 3 years bringing our total number of tenanted offices to around 130. We hope to expand our portfolio further in the not too distant future and are currently looking at other buildings in the Nottingham and Leicester area.”