Investment News | 18 August 2021
Developer shows confidence in retail bounce back
A developer has predicted that Derby’s independent retail sector will lead the recovery after securing its latest investment.
Ryan Slater, from the Sadler Gate Company, has snapped up 43 Sadler Gate, in the city’s Cathedral Quarter.
The property is positioned among high end fashion and boutique retail outlets including Dr Martens and Joules, in addition to a multitude of local retailers, bars, restaurants and cafes.
Ryan said: “Along with my business partner Mitchell Shore we have been wanting to invest in the city.
“We have a strong belief that the independent retail sector will bounce back, and Sadler Gate has long been the heart of that essential part of Derby’s city centre experience.
“We plan to use the building as a mix of both residential use and a business offering, so it will have the added bonus of bringing employment opportunities.”
BB&J Commercial partner Mark Richardson, who agreed the deal, said: “It’s been a pleasure to deal with Ryan and Mitch and exciting to see their plans for one of the most prominent buildings on Sadler Gate.
“Their purchase comes at what I think is a pivotal time for the city.
“While it has undoubtedly been a difficult period, particularly for larger retailers, the independent sector often finds a way to reinvent itself.
“Against a background of increased city centre living in Castleward and the Nightingale Quarter, and the nearby redevelopment of Becketwell in addition to the Market Hall, Sadler Gate is perfectly placed to capitalise on the increased footfall that will follow from this city centre resurgence.”
