Derby retail park sold for over £3m

Property agency Bond Wolfe has brokered the sale of the remaining units at Southgate Retail Park in Derby in a £3.2m deal.

Covering 53,202 sq ft, the park features eight retail and office units, including a retail warehouse and a business innovation centre.

The £1.9m off-market sale, completed by Bond Wolfe, sees Connect Derby Properties acquire the rest of the retail park, following its £1.3m purchase of Unit 5, let to The Gym Group, earlier this summer.

The retail park generates a gross annual income of £285,344, with tenants including Royal Mencap Society, One Below Retail and Swarco.

Clark Brookes Turner Cary Solicitors represented the seller, while Elliot Matther of Derby advised Connect Derby Properties.

James Mattin, managing director agency at Birmingham-based Bond Wolfe, said: “We are delighted to have concluded this off market sale of the remainder of Southgate Retail Park.

“Demand for retail park investment opportunities continues to grow and we continue to see strong activity from private and corporate purchasing entities alike. We are always ready to discuss specific requirements from investors looking for opportunities.”