Prominent Derby site sold in multimillion-pound deal

An East Midlands vehicle recovery and breakdown firm has bought the former Derby Wholesale Market in a multimillion-pound deal.

Rotherhill Developments has sold the site to Wigston-based Richford Motors in a deal brokered by FHP Property Consultants and Commercial Property Partners.

The three-acre site comprises a 25,000 sq ft warehouse with ancillary buildings, with the remaining area comprising hard surfaced storage land.

Richford Motors will occupy the site to service a number of contracts across Derby.

Darran Severn, director at FHP Property Consultants, said: “This must be one of the most prominent sites in Derby and I am pleased to have completed the sale in what has been a great result for all parties involved. We received significant interest from day one from both owner occupiers and developers. There were over 40 credible enquiries which we were able to whittle down to 9 serious offers, eventually going under offer to Richford Motors.”

Edward Jeffrey of Rotherhill Developments added: “We are very pleased to have successfully completed a sale of the former Derby Wholesale Market site to Richford Motors having explored a range of development options. This is a well-configured site of scale with frontage to Derby’s principal access corridor, demonstrating excellent fundamentals. It was a pleasure to work with Richford Motors who were efficient and delivered. Our thanks go to joint agents FHP and CPP, together with our legal advisors, Howes Percival, for acting on our behalf.”

Sean Bremner, director at Commercial Property Partners, said: “From the inception of this project we were all very confident this would prove to be an attractive opportunity to offer to the market. Numerous enquiries from a wide range of end users were forthcoming all wanting to take advantage of the profile and flexibility that the site offered. Congratulations to Richford Motors for securing it.”