Phase II of The Point attracts another high profile business

1st December 2010

Software AG has signed the pre-let on a new 20,000 sq ft office facility within phase two of The Point Office Village, Cedar House Investments’ £50 million mixed-use scheme on Pride Park.

Software AG – the global leader in business process excellence - is the latest high profile business to commit to The Point, which is being developed on the site of the former Bombardier bogie and signalling works to the west of Pride Park.

When the management team was looking for new facilities it felt that The Point's strategic location was the best fit for its current needs.

Commenting on the company's decision, Carol Holden of Software AG, said:

“We first worked with Cedar House Investments 10 years ago when we let a 35,000 sq ft office facility from them, so it was a pleasure to rekindle the relationship when we came to review our accommodation requirements this year.

“The move to The Point will provide the company with fresh new facilities and a strong platform for us to develop in the future,” added Carol.

Chris Carlisle, managing director of Cedar House Investments, added:

“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.

We are delighted to secure Software AG to what remains Derby’s leading new office destination.”

The Point is one of the biggest and most high profile developments ever seen on Pride Park. When complete, it will see the roll-out of an additional 300,000 sq ft of commercial accommodation. Occupiers include Ramada Encore Hotel, Handelsbanken, PX Tech and Franklin Underwood.

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

Joint agents for The Point scheme are Russell Rigby at Rigby & Co on 01332 203377 and Nick Hosking at Innes England on 01332 362244.

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