New mixed-use scheme on the way as city centre properties sold
A deal has been completed to sell three freehold sites on Green Lane in Derby city centre.
St James Securities, the company behind the £200m regeneration of the Becketwell area of the city, has sold the properties to the Berry Group, a Derby-based property company.
The properties form part of legacy ownership originally controlled by Debenhams when it traded from the former department store, with the site now home to The Condor, Grainger’s new 259 BTR apartment scheme, which is set to launch next month (August).
As part of the on-going regeneration project at Becketwell, tracks of land behind The Condor needed to be reconfigured resulting in the disposal of numbers 22-24, 36 and 46-48 Green Lane.
The three properties will be transformed into a mixed-use development, including ground floor commercial units and apartments on the upper floors.
Paul Morris, development director at St James Securities said: “We are pleased to have concluded the sale of these three very interesting buildings.
“The Berry Group have the required experience and skill set to reactivate these long vacant properties to provide a mixture of commercial and residential space as part of the on-going re-energisation of Derby city centre.”
Alex Cockayne, commercial director of the Berry Group added: “We are delighted to have purchased these three properties from St James Securities and thank both Rigby & Co and St James Securities for their dealings and co-operation throughout the conveyancing period.
“We are now thrilled to focus our attention on bringing these derelict buildings, which have been empty for over 15 years, back to life. These buildings will play a part within the Becketwell regeneration scheme and provide Derby city centre with some much-needed high end accommodation and fresh commercial space.”
The deal was brokered by Russell Rigby of Derby-based commercial property consultants Rigby & Co, who said:
“We are really pleased to have delivered a successful outcome for SJS and given the rise in confidence levels on streets bordering Becketwell, we believe we have an excellent match-up between an emerging location and The Berry Group, who have already demonstrated that they are skilled at getting to grips with mixed use assets such as these three buildings.”
