As BB&J Commercial celebrates 30 years of dedicated service in Derby, Mark Richardson reflects on the city’s evolving property landscape and the opportunities that lie ahead.
With extensive experience across Derby’s property sectors, Mark provides valuable insights into how the city can adapt and thrive amid changing economic and social conditions.
Reflecting on a Changing Landscape
Since joining BB&J Commercial in 1994, Mark has seen Derby undergo significant transformations. Economic cycles, changing business needs, and shifting societal habits have all played a role in shaping the city’s commercial property sector. Traditionally, these cycles brought visible shifts in business activity, with economic downturns often leaving empty shops on high streets and recoveries leading to new businesses opening their doors. However, the COVID-19 pandemic upended this pattern, creating unprecedented challenges and opportunities across the property sector.
“The pandemic pushed us into uncharted territory,” says Mark. “Social changes like remote working and a shift towards online shopping have fundamentally altered how businesses and communities engage with physical spaces.”
Industrial Property: A Bright Spot in Derby
The industrial sector has remained a reliable source of demand in Derby. BB&J Commercial frequently sees competitive bids on industrial properties, with rents often reaching record levels as both local and national investors recognise the long-term stability in this area. This increased interest has also translated into off-market transactions for both small and large units, which has further underscored the sector’s robustness.
“Our work with industrial properties reflects an underlying confidence in Derby’s economy,” says Mark. “Demand for industrial spaces has stayed strong, even during tougher times, and we expect this trend to continue as companies look for stable, long-term investments.”
Office Market: Adapting to a New Normal
The office sector, meanwhile, is adjusting to post-pandemic realities. Hybrid and remote work models have influenced larger businesses to downsize, often leaving vacant spaces in need of adaptation. Locally based flexible working providers, such as CUBO, have expanded nationally, while demand for high-quality, smaller office spaces remains steady across Pride Park and other parts of Derby.
“The market is trending toward smaller, high-quality spaces that accommodate flexible work arrangements,” Mark notes. “This shift is reflective of Derby’s growing emphasis on quality over quantity in office spaces.”
Retail: Overcoming Visible Challenges
Retail has arguably faced the most visible challenges, with high-profile closures leaving noticeable gaps across the city. Despite these hurdles, independent retailers continue to find success in smaller, high-footfall locations. Iconic retail hubs, such as Derbion, maintain their appeal to well-known brands, although this sometimes comes at the expense of smaller, local businesses.
“The traditional retail model is undoubtedly evolving,” Mark explains. “But Derby’s independent retailers and smaller high-street shops are finding ways to thrive, proving that there’s still demand for unique, local shopping experiences.”
City Centre Living: Unlocking Potential with Mixed-Use Spaces
BB&J Commercial has observed a positive trend in the redevelopment of city centre spaces into mixed-use properties. With a growing interest in converting vacant upper floors into residential apartments, many investors are capitalising on Derby’s historic architecture by transforming these areas into vibrant living spaces. Key locations such as Friar Gate, Sadler Gate, and St. Mary’s Gate have seen a steady flow of investment, reflecting the city’s potential as a lively residential hub.
“The Becketwell regeneration project and upcoming performance venue are transformative for Derby,” Mark emphasises. “This, coupled with the Market Hall‘s reopening, is revitalising the city and reinforcing Derby as a destination for culture, living, and business alike.”
Positive Momentum in Residential Development
The ongoing development of student accommodation near the University of Derby campus is one example of how residential projects are enhancing the city’s infrastructure. The new Business School on Agard Street and mixed-use developments on Slack Lane and Ashbourne Road exemplify the university’s contribution to urban revitalisation, bringing more foot traffic and economic vitality to the area.
With 1,500+ additional homes planned within walking distance of the city centre, the local economy stands to benefit substantially. New housing developments, including the Nightingale Quarter and Friar Gate Goods Yard, provide opportunities for retail, hospitality, and other sectors to tap into a new demographic of city-centre residents.
Looking Ahead: Building on Derby’s Potential
Mark believes that, with the right support, Derby can leverage its redevelopment projects to create a city centre that thrives economically, socially, and culturally. He acknowledges that the Derby City Council’s planning department plays a crucial role in facilitating growth, and he advocates for a balanced approach to maintaining Derby’s heritage while embracing forward-thinking development.
“As we approach a new era in Derby’s property sector, it’s essential that we keep looking forward,” Mark says. “The redevelopment plans in place, combined with new government strategies, create an environment ripe for investment. Now more than ever, it’s about finding that balance between preserving Derby’s unique character and enabling the growth that will keep our city competitive and vibrant.”
Discover More
BB&J Commercial is dedicated to guiding property owners, investors, and developers as Derby’s landscape continues to evolve. Whether it’s maximising investment in industrial spaces, advising on mixed-use developments, or navigating the shifting retail sector, our team is ready to help clients achieve their goals.
Contact us today to learn more about opportunities in Derby’s commercial property sector and find out how BB&J Commercial can support your investment strategies.
Call: 01332 292825
Email: commercial@bbandj.co.uk
