Former city centre department store in Derby Cathedral Quarter, with frontage onto the pedestrianised Iron Gate; one of Derby's prime retail and leisure destinations. Near Slug & Lettuce (Stonegate), Pizza Express, Nando's, The Standing Order (Weatherspoon's), Bear Coffee and a number of high quality niche / independent retailers.
The opportunity is located 0.1 miles north of the Becketwell regeneration area which is home to Derby's first purpose built PRS scheme - The Condor - a 269 unit development owned by Grainger Plc. The Becketwell Performance Venue; a new 3,500 seat arena is under construction and will open in Q1, 2025.
The property is situated close to Derby's Market Hall, which is currently undergoing comprehensive restoration, and will be relaunched late 2024 as a city centre market hub with a vibrant food and beverage offering. The property also forms part of a wider "island" site, surrounded by Amen Alley, Full Street and Market Place. Derby City Council are shortly to announce the identity of a strategic development partner who will begin work developing the Market Place, Assembly Rooms and multi storey car park as part of that site, providing much needed confidence and stimulus to all the properties positioned along Iron Gate to the front and Full Street to the rear.
To the rear of the premises, Wavensmere Homes are running a Planning Application for a 190 unit PRS scheme, which sits fronting Cathedral Green, and where work is expected to start in Autumn 2024. Alongside the transformative proposals to regenerate the Assembly Rooms site on the Market Place, this further bookends the 8-9 Iron Gate premises as being very much in the hot spot of the area of rapid regeneration and change over the next 2-5 years.
Derby bus station is 0.3 miles to the east and ParkSafe Car Park is 0.2 miles to the north. What 3 Word location: snaps.funny.gain
Prime ground floor retail space in Cathedral Quarter within Derby city centre. Substantial and versatile accommodation, former department store. Will split to provide units from 1,000 sq ft. There is a basement providing an additional 3,083 sq ft. Rents are subject to covenant, terms and space taken.