Derby law firm, Flint Bishop LLP, has helped Ivygrove Developments acquire the freehold of the 15 acre Draka Cables site from parent company Prysmian Group.
The acquisition allows Ivygrove to demolish all but a few of the old industrial buildings on the site and start anew.
The scheme will be made up of units ranging from 3,300 sq ft upwards.
Ivygrove Managing Director John Blount said: “I am delighted that we’ve been able to secure this prestigious site.
“It’s a perfect fit for the company’s business model of building small and medium-sized industrial units for the Derby market.
Most of the existing buildings are obsolete and will be cleared, allowing us to provide a range of new units in the Ivygrove style.”
Commercial Property Partner Lewis Rose OBE said: “I am delighted to have helped my long-standing client Ivygrove Developments with the acquisition of another high profile site for redevelopment.
The commercial property market is very healthy in Derby, and there is a shortage of the type of quality developments that Ivygrove build. So I am confident this will be a successful as their other developments on Alfreton Road and Mansfield Road.”
Stephen Salloway, Senior Partner of Salloway Property Consultants, were the agents for the deal.
Previous owners of the property were Draka UK, a brand of the Prysmian Group, a world leader in the energy and telecom cables and systems industry.
However Draka UK ceased manufacturing at the site at the end of September 2012.