Off Market Sold Sadler Gate, Derby, Derbyshire

Investment for sale in Derby city centre's Cathedral Quarter, on Sadler Gate. Nearby occupiers include Revolution de Cuba, Derby Museum and Art Gallery, and many local independent traders.

The property is located 0.2 miles north of the Becketwell Regeneration Area where currently being constructed are 342 apartments in two main residential buildings, up to 25,000 square metres of business space, a new public square for the city centre with a hotel, restaurants and cafes around the square, plus a 500-space pay and display car park.

The property has good links to public transport and parking. Derby bus station is 0.6 miles to the east and ParkSafe Car Park is a 2 minute walk away. Ample pay and display street parking nearby.

What 3 Words Location: tones.nets.crop

DRAFT DETAILS OFF MARKET, TENANTS UNAWARE. Class E Investment for sale. Currently producing £17,500 per annum. Ground floor retail with upper floor offices and store room. Traded as Salamander for many years. Separate access to uppers offering potential for residential conversion, should the tenant wish to regear the lease. Tenants holding over. Asset management opportunity.

The accommodation has been measured on a Net Internal Area (NIA) in accordance with the RICS Code of Measuring practice. Areas have been taken from the VOA and should be checked.

We believe the property has been used under Class E - Commercial, Business and Service of the Town and Country Planning (Use Classes) Order 1987 (as amended) but may be suitable for a range of high street or professional uses STP. We believe the property is in the Derby City Conservation Area. All parties should confirm the planning position with the relevant Local Authority.

All mains services with the exception of gas are connected to the property. The agents give no guarantee in respect of connectivity or capacity and interested parties must rely on their own investigations.

The property has been separately assessed for rating purposes on VOA.gov.uk

The Ground Floor is currently listed as a hairdressing salon and premises with a Rateable Value of £11,500
The First Floor is currently listed as an office and premises with a Rateable Value of £3,400.

Subject to status tenants may therefore qualify for 100% rates relief.

Freehold

Class E for sale freehold subject to an existing tenancy to a private individual drawn on FRI terms from 01 May 2019 and expiring 30 April 2024. The current rent is £17,500 per annum and the tenant is holding over. The property has traded as Salamander for many years.

£220,000 for the Freehold. All figures are quoted exclusive of VAT, we are advised the property is registered for VAT.

TBA

Tenants are unaware. Please undertake a secret shop of the ground floor or contact the agents for further details. OMEETO do not take any responsibility for any loss or injury caused whilst carrying out a site visit.