Continuing on from our recent success of investment disposals BB&J Commercial are pleased to announce the sale of 73 Devonshire Drive, Mickleover which at the time of sale was let to Scarsdale Vets LLP with approximately 15 years unexpired.
Chris Keogh of BB&J Commercial commented “We initially carried out a ‘soft’ marketing exercise in the summer to gauge interest. On the strength of this it soon became apparent that the appetite for such an investment was extremely strong. Given the volume of enquiries and offers received we decided the appropriate marketing strategy was to invite best and final bids. We had very good levels of local interest and ultimately agreed a sale to a London based investor who favoured D1 Use Class investments for £375,000. They appreciated the fact that Scarsdale Vets, whilst primarily a regional practice represented a good solid covenant with the lease providing natural rental growth.”
“This sale carries on our momentum built up over the last three months where we have concluded transacted investments with a combined value of approximately £4m and we are confident of adding to this figure in the forthcoming weeks with our existing investments at Ilkeston, Pride Park and Matlock all under offer.”
Chris continued: “The fact that we had so much local interest and yet agreed a sale to a London investor demonstrates just how strong the Derby regional market is for high quality investment stock. It’s good to know that with the right marketing we can attract buyers from right across the country.”
BB&J are commercial property consultants and land agents providing a wide range of services throughout the East Midlands and would welcome the opportunity to further discuss any enquiry. Please feel free to contact us either by phone (01332 292825) or by e-mail (commercial@bbandj.co.uk) and we will be happy to offer our assistance.
