Derby retail space exchanged hands for a sum of £1.3 million.

Midlands property agency Bond Wolfe successfully completed the £1.3 million sale of a unit at Derby’s Southgate Retail Park to Connect Derby Properties Ltd. The modern retail unit, currently leased by The Gym Group until 2031, is generating a passing rent of £97,344 per annum. With a total area of 11,643 sq ft, the unit is priced at a low £8.36 per square foot. The Gym Group has been a tenant at Southgate since 2011, part of a retail space totaling 48,000 sq ft with a Lidl store as an anchor. Legal representation for the transaction was provided by Clark Brookes Turner Cary Solicitors for the seller and Elliot Matther for Connect Derby Properties Ltd. James Mattin, managing director agency at Bond Wolfe, expressed satisfaction with the sale, citing quick market interest as indicative of strong demand for such retail assets among private investors. Future investment opportunities in the area are forthcoming, with Bond Wolfe eager to discuss individual investor requirements.