Feature

Cedar House Investments agrees to yet another sale at the point

22nd June 2010

There continue to be signs that the state of the local economy is improving as developers Cedar House Investments announce another sale at The Point Office Village, its high profile mixed use scheme on the site of the former Bombardier bogie and signalling works to the west of Pride Park.

& Russell Hume already has offices in Birmingham, Exeter, Boroughbridge, Liverpool London and Edinburgh and this deal, for their new corporate centre, forms part of the company’s on-going expansion plans.  The company is growing rapidly into new areas of WEB based sales and sales through television shopping channels.

Only one unit now remains for sale or rent within phase one of the Office Village scheme. A planning application for the next phase has now been submitted with construction scheduled for the turn of the year.

Commenting on their decision to open new offices at The Point, Richard Kay, Financial Director at Russell Hume, said:

“The Point’s prime location in the city, coupled with the strength of Pride Park as a business destination, made The Point the ideal location for our new offices.

“It is rare to find a site with such good road links and within such close proximity to both the railway station and the city centre,” added Richard.

Commenting on the deal, Chris Carlisle, managing director of Cedar House Investments, said:

“The Point is one of the most significant development opportunities ever seen on Pride Park and is continuing to attract high profile occupiers despite the current downturn in the market.

“Over the past ten years Cedar House Investments has developed more than 500,000 sq ft of commercial space on Pride Park, which stands us in good stead at a time when many developers are experiencing difficulties selling and letting property.”

Cedar House Investments continues to extend its development programme across the Midlands and its portfolio now totals more than £75 million.

It includes high profile sites in Ashby, Rugby, Northampton, Corby, Tamworth and Stoke-on-Trent, along with the redevelopment of the 35 acre former Nestlé site in Ashbourne.

The company won the title of Commercial Developer of the Year 2009 at the East Midlands Property Dinner and Property Company of the Year at the 2009 regional Estates Gazette Awards.

Agents for the scheme are Nick Hosking at Innes England on 01332 362244 and Russell Rigby at Rigby & Co on 01332 203377.

Image:

(left to right) Richard Kay, Financial Director at Russell Hume and Chris Carlisle, managing director of Cedar House Investments.

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