Round-up of the latest deals done in Derby

The sale of a respected family-run furniture store heads the list of deals done in Derby over the past few weeks.

BB&J Commercial has sold Finewood Studios, in Station Road, Mickleover, to MHL Commercial for redevelopment.

Originally established in 1976, Finewood Studios was a respected family-run furniture store for nearly 50 years before closing its doors in March 2023.

Now, MHL Commercial plans to transform the site into a mixed-use scheme.

According to BB&J, the site attracted significant interest from both local and national developers.

With its strategic location and potential for high-end residential and commercial use, multiple bids were submitted during the competitive sale process before MHL Commercial secured the property.

Cameron Godfrey, agency surveyor at BB&J Commercial, who oversaw the transaction, said: “This was an exciting but complex transaction, and from the outset, we anticipated strong interest due to its size, location, and redevelopment potential.

“However, the response exceeded expectations, with significant enquiries from developers across the country.

“The competitive nature of the bidding process was a testament to the site’s value.

“MHL Commercial emerged as the ideal purchaser, with a strong vision for the site’s future and a commitment to seeing the transaction through.

“The vendor was delighted with the final sale price and the smooth process, and were proud to have delivered a fantastic outcome on their behalf.”

Elsewhere, Salloway Property Consultants has secured a new tenant for a two-storey mixed-use property in Highfield Road, Littleover.

The retail element of the property was formerly a hair salon. The new tenant, Iliral Ltd, now intends to convert this space into a convenience store.

Hugo Beresford, associate director at Salloway, who brokered the deal, said: “The property is located within a small but established retail pitch at the heart of the suburb.

“Furthermore, the opportunity offered any tenant the ability to sub-let the residential parts and thus generate their own rental income, should they themselves not require live/work accommodation on site.”

Meanwhile, FHP Property Consultants has announced the letting of another unit at Derby Trading Estate, following its recent refurbishment.

Following Northern Trust’s investment in refurbishing the property and after a very brief marketing period, FHP managed to place the property under offer within weeks and it completed within one week of heads of terms being issued.

Derby Trading Estate is a popular industrial/storage estate in Derby, located between Sir Frank Whittle Road and Stores Road.

Corbin Archer, of FHP Property Consultants, said: “As a result of the refurbishment Northern Trust had undertaken, coupled with a lack of industrial units sub 3,000 sq ft in the area and the estate’s location, it meant we were able to achieve the highest rent on the estate to date and let the property within a few weeks.

“Pleasingly we have another unit coming available soon, Unit 24, which will offer a very similar finish to that of Unit 8 and is of a similar size.”

Finally, Oberoi Business Hub has welcomed a photographer and videographer as its latest tenant.

Ash Stanley has taken a ‘virtual’ office at the Pride Park-based hub.

Oberoi Business Hub was founded by managing director Kavita Oberoi in 2012 to provide high quality, cost effective and flexible support services to help businesses and organisations flourish and grow.

Hub manager Jodie Brady said: “We look forward to working with Ash and I know from feedback from our other virtual office clients just how important it is for businesses to have a Pride Park office address and the support provided by our team here.”