Historic mill sold to developer but businesses will stay
AN historic former mill building in Derby, home to several businesses including a private members club, has been sold to a developer.
The former Osmaston Works building, at Osmaston Road Business Park, has been bought by Nottingham-based firm ALB Group.
Although ALB is known for converting mills and other buildings into apartments, the company says it will keep the building’s use as commercial for the foreseeable future. It is currently fully let and taken up by offices, storage facilities and private members’ club The Attic, which will continue to trade.
Built in 1896, the four-storey building, covering an area of 40,775 sq ft with 25 parking spaces, was bought for an undisclosed sum.
While keeping the building’s use as commercial for the foreseeable future, bosses have not ruled out scope for eventual development in the long-term.
ALB managing director Arran Bailey said: “It is fantastic for us to be able to take on this thriving, characterful building.
“What attracted us to the building was the potential for future uses, its features and the fact it’s in a desirable location close to the centre of Derby.
“It is ideally placed for links to Derby and major roads like the A52, M1 and A6.” ALB Group, which has its headquarters in Carlton Road, Nottingham, is a property investment and lettings company with a property portfolio across the country, worth more than £50 million. The firm is already known in Derby for projects such as the 155-apartment conversion of Prosperity House, previously known as St Peter’s House, in Gower Street, with commercial units retained.
ALB also acquired Jacobean House and the Wardwick Tavern, as well as two valuable historic landmarks in and around Iron Gate, including Iron Gate Studios, 37 Iron Gate, in previous years.
Other notable developments by the firm include the conversion of the former Co-op in Ilkeston into 73 one and two-bedroom apartments, the transformation of Draycott’s Victoria Mill into 73 apartments.