£475,000 for the Freehold (please check the VAT status)
2,116 Sq Ft (196.6 Sq M)
Where is the Investment located?
The property is located on Duffield Road (A6) in the popular Five Lamps area; a mixed use suburb a short walk (0.5 miles) north of Derby City Centre.
The investment for sale is within easy reach of public transport links into the city centre. The A38 is approximately 1 mile to the north of the property which in turn provides access to the M1 at Junction 28.
What does the Investment comprise?
Recently refurbished. Mixed use investment. Producing £39,120 p.a. Shop, 4x apartments & brick outbuilding with conversion potential STP.
Each occupied unit is self contained & separately metered. All units are tenanted with the exception of the storage unit which is in a shell condition.
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 |
|---|---|---|
| Retail Unit - Ground Floor | 247 | 22.95 |
| Unconverted Outbuilding - Ground Floor | 215 | 19.97 |
| Apartment 1 (1 Bed) - Ground Floor | 369 | 34.28 |
| Apartment 2 (1 Bed) - First Floor | 330 | 30.66 |
| Apartment 3 (1 Bed) - First Floor | 354 | 32.89 |
| Apartment 4 (2 Bed) - Second Floor | 601 | 55.83 |
| Total | 2,116 | 197 |
What has the property been used for?
The property has been used for Class E (Commercial Business and service) along with C3 Residential. All parties should confirm the planning position with the relevant Local Authority.
Are there Utilities?
All mains services are connected to the property. Each unit is separately metered (gas and electric). 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?
The property is currently listed as a shop and premises on VOA.gov.uk
Rateable Value for retail unit at No 3 = £2,425.00
Rateable Value for Flat 4 listed as holiday unit = £1,350.00
Flats 1, 2 & 3 are all council tax band A
How is the property offered?
Freehold
Freehold investment for sale.
The shop is tenanted by a private individual by way of an effective IRI lease for a term of 5 years expiring November 2026. The rent passing is £4,200 p.a.
Apartment 1 (1 bed) is tenanted by way of a 5 year agreement expiring June 2028. The rent passing is £8,580 p.a.
Apartment 2 (1 bed) is tenanted by way of a 3 year agreement expiring September 2024. The rent passing is £7,800 p.a.
Apartment 3 (1 bed) is tenanted by way of a 3 year agreement from March 2024. The rent passing is £8,340 p.a.
Apartment 4 (2 bed) is tenanted by way of a 3 year agreement expiring September 2024. The rent passing is £10,200 p.a.
How much is the Price?
£475,000 for the Freehold. All figures are quoted exclusive of VAT, we are advised the property is not registered for VAT.
What is the EPC rating?
The shop C(67)
Apartment 1 E(44)
Apartment 2 C(75)
Apartment 3 C(77)
Apartment 4 C(76)
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
04-Dec-2024
Omeeto
Please check our website for a suite of photos, videos and virtual tour. Users can also access various property documents.
Important Notice
Map data ©OpenStreetMap contributors.
Important Notice
Map data ©OpenStreetMap contributors.
Contact
Chris Wright
01332 840328
07471 072799
chrisw@omeeto.co.uk
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