Overview :
A former wholesale market was purchased from Derby City Council as it had become surplus to their requirements. The existing buildings extended to c32,000 sq ft upon 3 acres, reflecting a site density of approximately 25%.
The purchase was agreed upon on a subject-to-planning basis, with comprehensive redevelopment proposed to create a small unit development.
Simultaneously, the property was marketed on an ‘all enquiries’ basis in the event of an individual occupier requirement for the whole site coming forward.
The planning process took longer than expected, but with a positive decision imminent, we decided to waive conditionality and complete the purchase.
Within 3 months an owner-occupier had been sourced and the property sold.