The Sadler Gate Co has purchased the building in Ashbourne Road, which could be turned into a 22-bedroom scheme.
Cameron Godfrey, a surveyor at BB&J – and agent managing the sale, said: “As was expected, we received a good amount of interest on the site due its valuable income stream and the current lack of investment/development opportunities within Derby.
“Given that the demand for student accommodation is particularly strong and with the property being located close to the university’s campus, I was not surprised that we received interest from local developers based on the indicative 22-bedroom student apartment scheme the owners had instructed architects to prepare.”
In a joint statement, Mitchell Shore and Ryan Slater, directors of The Sadler Gate Co, said: “We are delighted to announce the successful acquisition of this remarkable property, a significant milestone in our commitment to providing exceptional real estate opportunities.
“This new addition aligns seamlessly with our vision for quality, style, and investment excellence with this meticulously chosen property embodying the values that define The Sadler Gate Co.”
