Deal done on Derby city centre retail premises
A former furniture retail property has been sold for a mixed-use redevelopment.
BB&J Commercial has handled the disposition of the freehold interest for a former furniture store situated on Babington Lane in Derby City Centre.
Mark Richardson of BB&J Commercial said: “ We had a lot of interest in this unit, particularly from developers looking to convert the upper floors for residential use. The layout of the unit is such that it proved to be a significant challenge so well done to the purchasers for coming up with an imaginative scheme that allowed both residential and commercial uses to operate together. The repurposing of city centre buildings to provide such mixed-use developments is gathering pace and I believe will help to bring a number of buildings back into use.”
New Owner Sam Berry, Director of Berry Homes UK Limited said: We are thrilled with acquiring 5 Babington Lane and the subsequent planning permission which has been successfully secured. This approval allows us to introduce new, affordable accommodation to Derby City Centre while preserving the commercial aspect on the ground floor of the building. We look forward to continuing our positive relationship with BB&J as they assist in securing a new tenant for this space.”