Key office letting shows market strength

Innes England has said that the recent letting of a prominent office building to a national housebuilder shows the current strength of Derby’s office market.

Earlier this month, it was announced that Lovell, which is part of Morgan Sindall, had opened a dedicated East Midlands office on Derby’s Pride Park.

The letting of the brand-new office at Riverside Court was handled by Innes England on behalf of the landlord.

Nick Hosking, director at Innes England, said: “The office at 5 Riverside Court is one of the best headquarters of its size in Derby and, perhaps unsurprisingly, we had healthy interest in the building.

“We were delighted to agree terms with Lovell Homes and their professional team, who were a pleasure to deal with throughout.

“This letting is reflective of the strength of Derby’s local office sector, where take-up has increased significantly during the last year as demand for offices increased following the easing of restrictions.

“Pride Park remains the city’s first choice office location and with a shortage of supply we’re continuing to see healthy competitive interest in the best quality standing stock.”