Salloway advises on £1m Pride Park investment

Bondholder and commercial property expert Salloway Property Consultants has achieved a £1m sale of a high-profile training facility on behalf of clients and fellow Bondholder Ivygrove Developments.

The premises, located on Royal Scot Road, are leased to Training Services 2000 Ltd. which provides the delivery of high quality goverment-funded apprenticeships and associated learning courses.

Managing Director Stephen Salloway managed the marketing and involvement since the acquisition of the development site until its sale. He explained: “After the land was acquired, Royal Scot Road became one of the major office and business unit developments on Pride Park.”

He continued: “We agreed a lease of the 11,000 sq ft building with the prospect of income until 2025.”

The investment, which produces a net income of £97,500 per annum was acquired by Garner Properties Limited at an attractive yield of 9.2%. Stephen explained: “With the tenant having an option to break the lease in 2020, Garner Properties Limited may have the opportunity to re let the premises at office rates, giving a reversionary character to this investment.”