Investment Sold 29 Friar Gate, Derby, Derbyshire

The property is located on the periphery of Derby city centre, just a 0.5 mile walk of the market place. Friar Gate is generally regarded as one of Derby's most important conservation areas and is in the heart of the City's main professional and business district within the Cathedral Quarter.

Friar Gate itself is one of the main arterial routes into the City and forms part of the inner ring road and links with the A38/A52 (Burton/Ashbourne) to the West and A52/A38 (Nottingham/M1) to the East.

The investment for sale is situated just 0.1 mile south of the UoD New Business School Set to open in 2024. There are a number of quality restaurants and bars within a short walk. There are a number of contract car park facilities close by.

What 3 Word location: slam.tops.cave

Residential investment. 6 Bed HMO. Currently student let producing £30,660 based on occupation September - June. ERV for full year occupation £32,760 p.a. Next to University of Derby School of Law. With parking. Prestigious town centre location. Two letting rooms per floor with a shared kitchen, lounge, shower room and WC on the ground and shared 2x shower rooms with WC's on the first.

Externally, to the rear is a small enclosed courtyard with parking for c 2 vehicles.

The accommodation has been measured on a Net Internal Area (NIA) in accordance with the RICS Code of Measuring.

The HMO for sale was converted c 2014 under planning permission 03/13/00238 which approved change Of Use From Offices (Use Class A2) To House In Multiple Occupation (Sui Generis).

The building is Grade II Listed Ref: 1287617. The property is situated within the Friar Gate conservation area. There is a TPO on the Lime Tree in the car park. All parties should confirm the planning position with the Local Planning Authority.

All mains services are connected to the property with a single metered supply. The current tenants are responsible for gas, electric and water and any Council Tax charges. The agents give no guarantee in respect of connectivity or capacity and interested parties must rely on their own investigations.

Derby Council Tax Band D. The landlord pays the Council Tax, which is then recovered from the occupiers.

Freehold

Freehold investment for sale subject to existing student lets. The tenants are directly responsible for gas, electricity & water. Any Council Tax charges are recoverable from the tenants. The landlord provides the furniture and white goods. It is anticipated the tenants will vacate at the end of term.

£300,000 offers in excess of. All figures are quoted exclusive of VAT, we are advised the property is not registered for VAT.

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