Wholesale market sold in multi-million-pound deal

The former Derby Wholesale Market has been sold in a multi-million-pound deal involving FHP Property Consultants.

Acting on behalf of Rotherhill Developments, FHP and Commercial Property Partners have sold the site to vehicle recovery and breakdown firm Richford Motors.

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 nine serious offers, eventually going under offer to Richford Motors.”

Edward Jeffrey, of Rotherhill Developments, said: “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.”