Investment Sold 29 Friar Gate, Derby, Derbyshire

DE1 1BX

£300,000 offers in excess of (please check the VAT status)

1,444 Sq Ft (134.2 Sq M)

Residential Investment - Sold - please contact the office to discuss your requirement.
Property for Sale
Residential Investment - Sold
2

Why choose 29 Friar Gate, Derby, Derbyshire DE1 1BX? - Sold

  • Sale: £300,000 offers in excess of (please check the VAT status)
  • 1,444 Sq Ft (134.2 Sq M)

  • 6 Bedroom HMO
  • Producing £30,660 p.a. based on Sept - June term
  • With parking
  • Next to University of Derby School of Law
  • Within 0.1 mile of UoD Business School opening 24
  • Just 0.5 mile walk from Derby market place

Where is the Investment located?

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

What does the Investment comprise?

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.

How has the Investment been measured?

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

Floor Sq Ft Sq M
Ground Floor 656 60.94
First Floor 368 34.19
Second Floor 420 39.02
Total1,444134

What has the property been used for?

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.

Are there Utilities?

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.

What is the Rateable Value?

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

How is the property offered?

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.

How much is the Price?

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

What is the EPC rating?

C (78)

What are the viewing arrangements?

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.

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

30-Oct-2024

Omeeto

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

Investment for Sale Investment for Sale

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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