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Largest Property Deal in Derby for Almost
a Decade
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One of the most significant property deals in the East Midlands this year and the largest in Derby for almost a decade, has been completed after Derby College signed a long term lease on a 93,000 sq ft building at The Point on Pride Park.
The brand new building, which is located within Cedar House Investments’ impressive £50 million mixed use development on the site of the former Bombardier bogie and signalling works, was originally purpose-built as a vocational training centre, but has never been occupied.
Named the Roundhouse Johnson Annexe, after former 19th century Derby Loco Works Superintendent Samuel Waite Johnson, it will now complement Derby College’s recently opened Roundhouse vocational campus and will be the College’s commercial flagship site and the headquarters of Corporate College – the dedicated business arm of Derby College, which works with more than 1,000 major employers locally and nationally.
Facilities will include conference and training facilities and, in line with Corporate College’s commitment to the local business community, there are plans to have restaurant and coffee lounge facilities for both training delegates and employees from surrounding businesses on Pride Park.
The centre will also house the construction and motor vehicle curriculum areas which are currently based at Mason’s Place in Chaddesden, as well as administrative and support services, which will relocate from Prince Charles Avenue in Mackworth.
Commenting on the deal, David Croll, principal of Derby College said:
“This is another important milestone for the College in our commitment to developing vocational learning both for young people and for businesses.
“Staff at the Roundhouse Johnson Annexe will work closely alongside the curriculum areas at The Roundhouse to particularly enhance the service and facilities that we provide to employers locally, nationally and internationally to support them in their work to upskill their workforce.
“It will also bring the remaining areas which were originally based at Mason’s Place as well as the remaining departments from Mackworth in closer proximity to The Roundhouse.
“This building was originally built with training in mind and is, therefore, the perfect location for us. As well as providing training, it will provide first class restaurant and meeting facilities and a social hub for surrounding businesses which has been lacking at Pride Park.”
The lease of the building was handled commercial property specialists, Rigby & Co, with Flint Bishop Solicitors leading on the due diligence.
Russell Rigby, director of Pride Park-based Rigby & Co, said:
"We are delighted to have secured this property for Derby College; at just over 90,000 sq ft, it is the largest building transacted on Pride Park since EGG in 1993."
Heather Dixon, property partner at Flint Bishop, added:
"This was a complex deal, which was completed in a difficult market and we are pleased that we have been able to conclude this deal satisfactorily for all parties.
“The facility will complement the newly opened Roundhouse campus and develop vocational learning for both young people and business. We are delighted to continue to work with the College whose forward thinking and investment will prove a major asset for the city".
The freehold of the building is owned by private investment trust owners St James Place, who were represented by Invista Fund Management.
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