Regeneration firm St Modwen has completed deals on more than 55,000 sq ft of commercial space across the East Midlands since the beginning of May, including a £2.4 million long leasehold sale and three lettings.

At Stretton Business Park, 10 miles south of Derby, St Modwen has sold the long leasehold on units four to seven to Kingsilver Properties for £2.4 million.

Amounting to 41,125 sq ft, the transaction involves a significant proportion of the 67,000 sq ft business park. There are currently just two units of 8,120 sq ft and 8,820 sq ft available for sale or to let within this phase of the scheme.

The Quinton-based company has also completed two lettings at Hilton Business Park in Derbyshire, leaving just two units remaining at the 49,250 sq ft scheme.

Unit 1A has been let to Jangala Limited on a 10-year lease, with the 6,000 sq ft unit secured at an annual rent of £31,000.

Family-owned Stillwater Narrow Boats, manufacturers of bespoke narrow boats for the past 18 years, has also let the 5,250 sq ft unit 3C at Hilton Business Park on a 12-year lease at an annual rent of £27,563.

Rushton Hickman and Lambert Smith Hampton are St. Modwen’s appointed agents at Hilton Business Park.

At Bestwood Business Park in North Nottingham, Salvus Environmental Services will join existing tenants including Corus and NCP after agreeing a three-year lease on the 4,160sq ft unit 5F for an annual rent of £15,000. Fisher Hargreaves Procter acted on behalf of St. Modwen.

Jonathan Green, development surveyor for St. Modwen, said: “The last two months have seen a raft of deals across St. Modwen’s East Midlands portfolio and this level of activity demonstrates that the region continues to be an attractive and commercially viable location for growing businesses.

“St. Modwen remains committed to boosting the prosperity of the East Midlands with the provision of strategically located business space and we are buoyed by the fact that investors and occupiers are also clearly giving the region their vote of confidence.”