St Modwen sells Derby Business Centre investment

St Modwen Developments Ltd has sold its 2,787 sq m (30,000 sq ft) Millennium Business Centre at Pride Park, Derby, to Surrenda-Link Investments for £1.4 million, reflecting a yield of 8.88 %.

The six-unit development, which is now fully let, was the first speculative scheme on the 180-acre Pride Park development and was a vital stage in establishing the Park’s success.

Mark Day of St Modwen, said: “Millennium Business Centre demonstrated St Modwen’s commitment to Pride Park which has borne fruit with the two phases of development of a national call centre building for Prudential Banking’s internet bank subsidiary, EGG.”

St Modwen was represented by Conrad Ritblat Erdman and the purchasers by Keningtons of London.

For further information contact Mark Day of St Modwen on 0121-456-2800. Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771).