Rotherhill has successfully completed the acquisition of a freehold multi-let industrial and storage land investment at Trafalgar Park, Derby, on behalf of joint venture partner DCS 452 Ltd.
Trafalgar Park is a secure and well-established industrial estate accessed off Victory Road neighbouring Victory Park industrial estate and located to the south of Derby City Centre close to Rolls Royce Plc’s Derby Aerospace Campus.
The property, purchased from Clowes Developments, comprises two industrial units, extending to approximately 29,850 sq. ft and 14,250 sq. ft respectively, together with a parcel of industrial outdoor storage land extending to 0.4 acres.
The larger industrial unit is currently occupied by Biffa under a lease expiring in 2033, with the smaller industrial unit and storage land available for immediate occupation.
Plans are underway to enhance the vacant industrial accommodation through a comprehensive programme of refurbishment, presenting a high specification unit to the market.
Both the vacant industrial accommodation and storage land are to be marketed on a ‘to let/may sell’ basis.
Ed Jeffrey, Director, Rotherhill comments:
“Our thanks go to Ross Cuthbert of Skylark Real Estate for identifying this off-market opportunity and to the team at Clowes for their collaborative approach throughout.
The property is well-located with good underlying fundamentals, providing both income and immediate asset management opportunities to explore. There is a limited supply of available existing industrial units of the vacant unit size and industrial open storage land parcels also remain scarce.
We look forward to the refurbishment and onward marketing of these elements with our retained occupational agents FHP and CPP.”
Ross Cuthbert, Director, Skylark Real Estate, adds:
“We are thrilled to have secured another acquisition on behalf of Rotherhill and DCS 452 Ltd working alongside Ed and the wider team. The acquisition of Trafalgar Park aligns with the strategy to acquire well located real estate with strong occupational fundamentals providing scope to add value in the short term. Special thanks goes to the team at Clowes for all their efforts in collaboratively working through a complicated due diligence process and for affording us the opportunity to acquire the property off market."
