Former Department Store For Sale 8-9 Iron Gate, Derby DE1 3FJ

£650,000 offers in excess of (please check the VAT status)

36,544 Sq Ft (3,395.0 Sq M)

Iron Gate

Key Features

  • Sale: £650,000 offers in excess of (please check the VAT status)
  • 36,544 Sq Ft (3,395.0 Sq M)

  • Former Bennetts Store and Bistro
  • Planning granted for mixed use scheme;
  • Retail, restaurant, offices and apartments
  • Prime position within Derby city centre
  • Within Cathedral Quarter
  • Near Bear Coffee, Slug & Lettuce, Pizza Express, Nando's, The Standing Order & Brigdens
  • Joint commercial property agents with Rigby & Co

Where is the Former Department Store located?

Former city centre department store and bistro in Derby Cathedral Quarter, with frontage onto the pedestrianised Iron Gate; one of Derby's prime retail and leisure destinations. Nearby occupiers include Slug & Lettuce (Stonegate), Pizza Express, Nando's, The Standing Order (Weatherspoon's), Bear Coffee, Brigdens and a number of high quality niche / independent retailers.

The opportunity is located 0.1 miles north of the Becketwell regeneration area which is home to Derby's first purpose built PRS scheme - The Condor - a 269 unit development owned by Grainger Plc. The Becketwell Performance Venue; a new 3,500 seat arena is under construction and will open in Q1, 2025.

The property is situated close to Derby's Market Hall, which is currently undergoing comprehensive restoration, and will be relaunched late 2024 as a city centre market hub with a vibrant food and beverage offering. The property also forms part of a wider "island" site, surrounded by Amen Alley, Full Street and Market Place. Derby City Council are shortly to announce the identity of a strategic development partner who will begin work in 2024 in developing the Market Place, Assembly Rooms and multi storey car park as part of that site, providing much needed confidence and stimulus to all the properties positioned along Iron Gate to the front and Full Street to the rear.

Derby bus station is 0.3 miles to the east and ParkSafe Car Park is 0.2 miles to the north.

What 3 Word location: snaps.funny.gain

Description

Former Bennetts department store and bistro. PP for mixed use scheme. Prime retail and F&B pitch in Cathedral Quarter within Derby city centre. Substantial and versatile accommodation split over basement, ground to fourth floor. Small loading area at the rear accessed from Full Street. The proposed accommodation extends 28,085 sq ft and comprises;

RETAIL UNIT 01
Basement: 103.51 sqm (1,114 sq ft)
Ground Floor: 289.55 sqm (3,117 sq ft)
First Floor: 166.09 sqm (1,788 sq ft)

RETAIL UNIT 02
Basement: 182.93 sqm (1,969 sq ft)
Ground Floor: 412.22 sqm (4,437 sq ft)

OFFICE UNIT 01
Ground Floor: 241.34 sqm (2,598 sq ft)
First Floor: 121.85 sqm (1,312 sq ft)

OFFICE UNIT 02
First Floor: 510.28 sqm (5,429 sq ft)
First Floor Mezzanine: 157.58 sqm (1,696 sq ft)

Apartments 1 - 8: 423.8 sqm (4,562 sq ft) a mix of 2 and 3 bed.

How has the accommodation been measured?

The accommodation has been quoted on a Gross Internal Area (GIA). Existing areas have been taken from the VOA, proposed have been taken from architect drawings and should be checked.

Planning

The property has been used under Class E (Commercial, Business and Service) of the Town and Country Planning (Use Classes) Order. By way of a consent referenced 23/00226/FUL, planning has been granted for conversion to retail/restaurant, offices and 8 x apartments (uses E(a), E(b), E(c) and C3). Works include renovation and repair to building envelope, layout alterations, partial demolition to rear of No. 8 with provision of new entrance and glazing to rear. 9 Iron Gate is Grade II List (Entry Number: 12278410). Listed building consent referenced 23/00227/LBA has been granted.

All parties should confirm the planning position with the relevant Local Authority.

Services

It is to our understanding that mains services to include 3 Phase electric are available at the property. No gas. The agents give no guarantee in respect of connectivity or capacity and interested parties must rely on their own investigations.

What is the Ratable Value?

The property is currently listed as a shop and premises on VOA.gov.uk.

Rateable Value: £78,000

Rates Payable: £39,936

How is the accommodation offered?

Freehold

Freehold for sale. Please note offers that are; subject to planning or without demonstrable proof of funds / finance will not be considered.

Price

£650,000 offers in excess of. Please check the VAT status.

VAT

All figures are quoted exclusive of VAT, we are advised the property is registered for VAT.

EPC

C (74) Expired Nov 2022. It is anticipated the property shall be sold for conversion.

What are the viewing arrangements?

Please visit the OMEETO website for full details and a virtual tour. Physical viewings with proceedable parties can be arranged on request by contacting OMEETO or our joint agents Rigby & Co. The agents do not take any responsibility for any loss or injury caused whilst carrying out a site visit.

Anti-Money Laundering (AML)

Any offer accepted is subject to completing AML checks.

Paper Copying Licence

100062569

Note

Plans, maps and drawings are not to scale.

Particulars Updated

12-Feb-2024

Omeeto

Please check our website for a suite of photos, videos and virtual tour. Users can also access various property documents.

Retail Retail Unit

Important Notice

  1. Omeeto are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made by word of mouth or in writing.
  2. These particulars do not form part of any offer or contract and “information” must not be relied upon as statements, representations or facts.
  3. All measurements, areas and distances are approximate and for guidance. All descriptions, conditions, permission for use and occupations should not be relied upon and it should not be assumed that the property has all necessary planning, building regulation or other consents. Services, equipment and facilities etc have not been tested. Any interested party must satisfy themselves on these matters by inspection, independent advice or otherwise.
  4. Photos, video’s, virtual tours etc show only certain parts of the property as they appeared at the time of inspection.

Map data ©OpenStreetMap contributors.

Map showing location of property

Important Notice

  1. Omeeto are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made by word of mouth or in writing.
  2. These particulars do not form part of any offer or contract and “information” must not be relied upon as statements, representations or facts.
  3. All measurements, areas and distances are approximate and for guidance. All descriptions, conditions, permission for use and occupations should not be relied upon and it should not be assumed that the property has all necessary planning, building regulation or other consents. Services, equipment and facilities etc have not been tested. Any interested party must satisfy themselves on these matters by inspection, independent advice or otherwise.
  4. Photos, video’s, virtual tours etc show only certain parts of the property as they appeared at the time of inspection.

Map data ©OpenStreetMap contributors.

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