MREF Riverlights III “Moorfield” (the real estate private equity fund manager), has appointed Pudney Shuttleworth and JLL to market the available retail and leisure space at its Riverlights scheme in Derby.
Purchased out of administration by Moorfield in May 2015, Riverlights is located adjacent to the River Derwent and is currently home to Holiday Inn, Hampton by Hilton and Genting Casino. The building, which offers a total of 200,000 sq ft, also incorporates Derby’s main bus station, which has a footfall in excess of 12 million every year.
Pudney Shuttleworth and JLL will be marketing the remaining 2o,000 sq ft available space, comprising a mix or retail, bar and restaurant units from 3,600 to 8,000 sq ft, each of which have space for significant outdoor seating.
Nic Lowry from Moorfield Group, said: “Both Pudney Shuttleworth and JLL showed excellent knowledge of the local market and have extensive experience in the retail and leisure sector. With a prime position, Riverlights has so far been an under-utilised asset within Derby’s retail and leisure offering. Following our acquisition, we now intend to ensure it has a great mix of occupiers, providing an attractive leisure destination for both residents and visitors to Derby.”
The available space offers flexible options for potential tenants with the ability to reconfigure the internal space, including installing a mezzanine floor, depending on business needs.
The retail and leisure sector is a key element in the ongoing regeneration of Derby, with over 25 million visitors and £570 million of retail spend recorded every year. Riverlights is situated on the eastern edge of Derby city centre, adjacent to the intu Derby shopping centre and Riverside Gardens, and acts as a key gateway to the city.
Richard Shuttleworth, Director at Pudney Shuttleworth, said: “Riverlights offers a prime position adjacent to the river, as well as being just a short walk from the 800 new homes being delivered as part of the redevelopment of the Castleward area.
“What’s more, Riverlights forms a key part of Derby Council’s masterplan which aims to bring more people towards the river.”
Nick Ferris, Director at JLL, said: “Moorfield has an exceptional track record in the delivery of mixed-use leisure and retail destinations and their vision for Riverlights will further enhance Derby’s leisure offering. As well as improving the appearance of the building and the external space, Moorfield will also be hosting a programme of events at Riverlights over the next few months, helping the area to make its mark as a key location in the city.”
For further information about the available space contact Richard Shuttleworth at Pudney Shuttleworth on 0113 3444 444 or Nick Ferris at JLL on 0113 235 5219.