Former furniture business Finewood Studios has seen its property located on Station Road in Mickleover successfully sold to MHL Commercial Limited for redevelopment, marking a new chapter for the well-known site.
Originally established in 1976, the Finewood Studios operated as a respected family-run furniture store for nearly five decades before closing its doors in March 2023.
The property itself is steeped in history, having been converted from four former cottages into a substantial two-story retail showroom with a five-bedroom residential dwelling at the rear. This blend of commercial and residential space made it a prime redevelopment opportunity and MHL Commercial Limited now plans to transform the site into a mixed-use scheme.
The sale process saw a high level of interest from both local and national developers, reflecting the increasing demand for redevelopment opportunities in affluent areas such as Mickleover. The site’s location, combined with its potential for high-end residential and commercial use, made it particularly attractive to a variety of sectors.
Throughout the marketing campaign, we received an overwhelming number of enquiries from a diverse range of buyers all recognising the site’s value. This competitive nature resulted in multiple strong bids being submitted, ultimately leading to a successful sale to MHL Commercial Limited who demonstrated a clear vision for the future of the site.
Cameron Godfrey, the acting agent who oversaw the sale, commented: “This was an exciting but complex transaction and from the outset, we knew the Finewood Studios property would attract a high level of interest due to its size, location, and redevelopment potential. However, the response exceeded even our expectations with a significant number of enquiries from both local and national developers. The diverse nature of interest made for a highly competitive bidding process.
“Our client was keen to secure the best possible outcome, both in terms of price and ensuring the site was sold to a buyer with the right vision and capability to complete a successful transaction. By leveraging our extensive network and implementing a targeted marketing strategy, we were able to guide our client through multiple competitive bids, ensuring they were in the best possible position to make an informed decision.
“MHL Commercial Limited ultimately stood out as the ideal purchaser, as they demonstrated a strong commitment to redeveloping the site along with the appetite to see the transaction through. The vendor was delighted with both the final sale price and the smooth transaction process and we are pleased to have delivered such a fantastic outcome on behalf of our client.”
