Cathedral Quarter Prospectus Highlights Investment Opportunities
Derby Cathedral Quarter Business Improvement District (BID) has launched a high-quality prospectus as part of its objective to attract new businesses and increased investment into the city centre.
The Cathedral Quarter Derby Prospectus showcases the strengths of the Cathedral Quarter and includes details of development and investment opportunities as well as providing an overview of the wide range of office and retail accommodation available to businesses in the area.
A breakfast launch event for the Prospectus is being held at the Derby Silk Mill Museum on Friday 20 November with a large number of commercial agents, developers and investors expected to be in attendance.
Home to more than 450 independent and national businesses, the Cathedral Quarter is renowned for its historic setting, vibrant atmosphere and high quality products. It boasts market leaders in the professional services, retail, health and beauty and leisure sectors and is home to the majority of the city’s evening economy and cultural venues.
Martin Langsdale, a chartered surveyor and chair of the Cathedral Quarter Board, which drives forward activities under the area’s BID status, said: “The launch of this prospectus could not come at a better time with significant growth in the number of development projects either announced, underway or completed in the Cathedral Quarter.
“The Prospectus has been produced by the Cathedral Quarter BID as part of our commitment to work with our partners to support and attract investment into the city centre and will be distributed across the UK to raise the profile of the Cathedral Quarter as a premium commercial property, retail and leisure investment opportunity.”
As well as showcasing development and investment opportunities in and around the Cathedral Quarter, the prospectus also highlights the quality, variety and value provided by the retail and office space available in the area.
The Professional Service sector is the largest sector in the Cathedral Quarter with over 200 highly respected local, regional and national businesses, representing 37% of the total business number.
With over 550,000 sq ft of commercial office space across all grades of accommodation, the Cathedral Quarter has an excellent supply of office accommodation, including serviced office space for small and growing businesses through the Connect Derby programme.
Retail represents the second largest business sector in the Cathedral Quarter with the area renowned for its high quality independent retailers and the highest density of premium brands in the city.
Martin Langsdale continued: “We have seen a resurgence in both independent and national retailers looking to relocate or expand in the Cathedral Quarter. Although the number of empty shops has dramatically reduced in the lifetime of the BID, there are some prime opportunities still available.
“The Cathedral Quarter is an address which carries a kudos and value. Businesses located in the Cathedral Quarter benefit from being part of an established BID which has helped to create an identity and brand which is widely recognised and one which businesses are proud to be associated with.”
These views were echoed by fellow property professionals.
David Brown, Director of David Brown Commercial continued: “The benefits of being located in the Cathedral Quarter amongst a wide range of other professional companies are enormous.
“This historic part of the city simply has a character and a vibrancy which cannot be replicated in modern out of town business parks.
“An excellent range of accommodation remains available, suitable for a variety of professional and commercial businesses at rental rates that are a fraction of those charged in out of town locations.”
Darren Severn from FHP Property Consultants explained: “The Cathedral Quarter is becoming increasingly popular and offers a very unique setting. It draws both high end independent and national retailers as well as an excellent mixture of new bars and restaurants.”
Graham Penny, Director of Graham Penny Auctions added: “Recent regeneration across the city has seen both new build and converted properties going on the market. This investment, coupled with new entertainment facilities has brought new residents to Derby and, with them, a new vibrancy for the city.”
And Trevor Raybould, Principal Chartered Surveyor at Raybould & Sons concluded: “The Cathedral Quarter is a first class location with its beautiful architecture, vibrant atmosphere and reputation for quality. It is in a period of renaissance and the time for businesses and investors to act is now.”