New life is set to be injected into a historic former Post Office building in Derby city centre after a property group secured a deal for the premises.
Staton Young Group has bought The Post House, in Victoria Street, for an undisclosed sum in a deal secured by FHP, which started marketing the property back in February last year.
Staton Young said it has already secured a tenant for its new purchase in the form of Lee Jones Junior and Grant Pullen, who intend to turn the ground floor of the property into a new bar and live comedy venue called Bar Social.
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Meanwhile, Staton Young, intends to convert the upper floors into apartments.
The Post House has stood empty ever since it closed down in January last year.
It was formerly a food hub, housing a number of small, independent food and drink outlets, all under one roof. However, it shut after just 18 months.
The Post House is the latest major investment by property management firm Staton Young.
Earlier this year, the firm launched a luxury co-working space and private offices concept, under the name Cubo, at the nearby Old Post Office.
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A former bar, Staton Young bought that property two years ago and invested hundreds of thousands of pounds to convert it into office space.
The company, which was founded by Marc and Rebecca Brough in 2012, is now poised to open further Cubo sites in Nottingham and Sheffield.
Speaking about the firm’s purchase of The Post House, Lucy Wilde, associate director at Staton Young, said: "We’re very pleased to have secured the sale of this building and are, of course, delighted to be once again investing in Derby and bringing something new to the city centre.”