Derby Estates Ltd delivered a major single, pre-let office development and gained significant profits from the re-sale of the remaining land after obtaining planning consent for another office scheme.
A pre-let office development of 73,000 sq.ft. on Pride Park in Derby covering about nine acres of reclaimed brown field land which formerly included a Gas facility with significant environmental challenges.
In phase I, Litton completed the largest single let office building in Derby for 25 years, on part of the site, which was pre-let to AEA technology plc rail division. The building was built to high environmental standards (BREEAM assessed) and won a civic award for the best new building in Derby completed in 2002. The finished development was sold to off shore based Israeli investors.
The further phase II land was traded to local developers at prices significantly higher than current market value and to realise a significant profit after obtaining planning consent for an office scheme.