BB&J Commercial have completed the sale of a retail unit at 43 Sadler Gate, Derby. The investment was sold to a local developer.
Purchaser, Ryan Slater, of the Sadler Gate Company, has long wanted to buy a prominent building within Derby’s independent retail sector in the Cathedral Quarter.
Ryan said: “Along with my business partner Mitchell Shore we have been wanting to invest in the city.
“We have a strong belief that the independent retail sector will bounce back, and Sadler Gate has long been the heart of that essential part of Derby’s city centre experience.
“We plan to use the building as a mix of both residential use and a business offering, so it will have the added bonus of bringing employment opportunities.”
BB&J Commercial partner, Mark Richardson, who agreed the deal, added: “It’s been a pleasure to deal with Ryan and Mitch and exciting to see their plans for one of the most prominent buildings on Sadler Gate.
“Their purchase comes at what I think is a pivotal time for the city. Whilst it has undoubtedly been a difficult period particularly for larger retailers, the independent sector often finds a way to reinvent itself.
“Against a background of increased city centre living in Castleward and the Nightingale Quarter, and the nearby redevelopment of Becketwell in addition to the Market Hall, Sadler Gate is perfectly placed to capitalise on the increased footfall that will follow from this city centre resurgence.”