Lowbridge "in talks" over £20m Derby site
Agents for a new £20m office development in Derby have said they are in talks with potential tenants.
Developer Lowbridge is to begin work on the first phase of Friar Gate Square later this month (February).
Sited on the corner of Agard Street and Ford Street, Friar Gate Square will be the first speculative office development to be built in Derby for two decades.
Agents Innes England and CBRE have been appointed to market the first phase of the development, which is expected to be completed by January next year.
The first phase will provide 32,000 sq ft of office space over six storeys. Work on the second phase is to begin once all the offices in the first phase have been let, confirmed Lowbridge.
According to Nick Hosking, director at Innes England, "discussions are progressing well with a number of different parties" regarding lettings.
John Forkin, managing director of Marketing Derby said: "One cannot underestimate the importance of Lowbridge's decision to start work. In my opinion, this represents the start of the next phase of Derby’s regeneration.
"We are looking to work with the investor, the developer and the commercial agents to ensure by the time the building is complete in 2013 that it has occupiers ready to move in."
