Key deals secured at city office building

A number of deals have been secured at a prominent Derby office building.

Over the past 12 months some 21,500 sq ft of space at the 30,000 sq ft Pentagon House, which fronts both Sir Frank Whittle Road and Stores Road, has been let.

This comprises three key deals, the most recent completing in July, when 12,674 sq ft was let.

The four-storey property, which has been newly refurbished, is being marketed by joint agents FHP and Innes England.

Darran Severn, from FHP, said: “There has been good office demand in Derby throughout the first half of 2023, which is evident by the success at Pentagon House.

“The majority of space within the city is being let to existing Derby businesses who are either downsizing, upsizing or generally looking to improve the quality of their space.”

Nick Hosking, of Innes England, said: “Pentagon House has held a long-standing reputation of offering the best quality multi-let office accommodation within Derby and it’s been pleasing to see that the recent capital investment into the building has re-enforced this position.

“The recent lettings have highlighted the continued demand for premium quality office space, and we expect to see continued healthy demand for the remaining suites going forward.”

Mark Roberts, of Loxton Developments, which owns Pentagon House, said: “Some 24 months ago we were hit by a number of lease expiries, which coincided with the pandemic resulting in large voids at Pentagon House.

“It was time to invest in the building and we have not only refurbished all the vacant suites to a high level, but we have also invested in the building installing new atrium glazing and EV charging points for our tenants.

“I am pleased to welcome our new tenants to the building, and I wish them every success.”