78 Front Street
Arnold
Nottinghamshire
NG5 7EJ
Derby Road, Nottingham
Offers In Excess Of £400,000
3 Bedroom House
- FREEHOLD PROPERTY
- 2 X RESIDENTIAL FLATS
- 1 X COMMERICAL UNIT
- INCOME PRODUCING
- 9.35% YIELD
- CITY CENTRE LOCATION
- IDEAL FOR STUDENTS
- COMMUNAL OUTDOOR AREA
- 1/4 MILE TO NTU
- TRANSPORT LINKS DIRECT TO JUBILEE CAMPUS
Freehold mixed-use investment property comprising a ground floor retail unit with two self-contained residential flats above, producing a total income of £37,420 per annum.
Arranged over four floors, the accommodation includes a one-bedroom flat at first floor level and a two-bedroom duplex flat across the second and third floors, both accessed independently from the rear. The residential flats are sold fully furnished and finished to a high specification, providing a turnkey investment opportunity.
The property comprises a tenanted, mid-terraced building arranged over four floors, providing a ground floor retail unit, a one-bedroom, self-contained flat on the first floor, and a two-storey, two-bedroom flat occupying the second and third floors.
Both residential flats benefit from independent access via a shared rear yard and are fully furnished and finished to a high specification, offering well-appointed accommodation suitable for the local professional and student rental market. The flats are presented as ready-to-let investment units, requiring no immediate capital expenditure.
Access to the rear of the property is gained via an adjacent open, rough-surfaced car parking area. Please note that this car parking area is not included within the title.
Tenancy
The ground floor retail unit is let by way of a 10-year lease from June 2018.
The residential accommodation is let by way of separate Assured Shorthold Tenancies. The current annual rental income is as follows:
99 Derby Road (Ground Floor Retail) – £10,000 per annum exclusive
99b Derby Road (First Floor Flat) – £13,020 per annum
99a Derby Road (Second & Third Floor Flat) – £14,400 per annum
Total Current Income: £37,420 per annum
Location
The property forms part of a tertiary retail frontage within a suburban area on the western periphery of Nottingham, approximately 0.8 km (0.5 miles) from the city’s central retail district.
Nottingham Trent University (City Campus) is located approximately 0.3 miles (0.5 km) away, equating to a 5–10 minute walk or a short journey via the Nottingham Express Transit (NET) tram network.
The University of Nottingham (University Park Campus) lies to the west of the city centre and is within close proximity to Lenton and Wollaton. From the Derby Road/Lenton area, the campus is typically a 10–15 minute walk (approximately 1.0–1.2 miles / 1.6–2.0 km).
The professional and office quarter of Nottingham city centre lies immediately to the south, with the highly regarded Park Estate residential area situated to the south-west. The property is consistent with the established character of the surrounding area.
Nottingham benefits from a central UK location with excellent transport connectivity, including direct access to the M1 motorway, East Midlands Airport, and Nottingham Railway Station, which provides direct services to London St Pancras in approximately 1 hour 40 minutes.
Business Rates
99 Derby Road (Retail Unit)
Ratable Value: £6,400
Interested parties are advised to make their own enquiries with Nottingham City Council regarding rates payable and eligibility for Small Business Rates Relief.
Planning
We understand that the property has planning consent for its existing use.
Interested parties are advised to make their own enquiries with Nottingham City Council Planning Control Department.
Terms
The property is available to purchase with the benefit of the existing occupational tenancies.
Ground Floor Retail Unit
Single retail unit at ground floor level.
(51.1 M2)
(550 Ft2)
Outside Rear (Access to Apartments)
Fencing to the boundaries with gated access to the patio area providing outdoor seating space, entrance door to apartment one, staircase leading to apartment two entrance door.
Apartment One
Entrance Hallway
UPVC double glazed door to the rear elevation leading into the entrance hallway comprising laminate flooring, wall mounted radiator, storage cupboard, doors leading off to:
Bedroom
3.1 x 2.4 approx (10'2" x 7'10" approx)UPVC double glazed window to the rear elevation, wall mounted radiator, built-in wardrobes, laminate flooring.
Shower Room
2.1 x 1.8 approx (6'10" x 5'10" approx)Laminate flooring, tiled splashbacks, handwash basin with mixer tap, WC, shower enclosure with mains fed rainwater shower over, extractor fan.
Kitchen
1.9 x 2.1 approx (6'2" x 6'10" approx)A range of wall and base units with worksurfaces over incorporating a sink and drainer unit with swan neck mixer tap over, space and plumbing for a washing machine, space and point for a fridge, integrated microwave, integrated dishwasher, oven with induction hob over and extractor hood above, laminate flooring.
Lounge Diner
4.2 x 5.6 approx (13'9" x 18'4" approx)Spacious lounge diner with bay window to the front elevation, ample space for a dining table, laminate flooring, ceiling rose, fireplace.
Apartment Two
Entrance Lobby
Wall mounted radiator, stairs leading down to the entrance hallway, carpeted flooring.
Entrance Hallway
Laminate flooring, carpeted staircase leading to the upstairs landing, doors leading off to:
Kitchen
2.4 x 4.1 approx (7'10" x 13'5" approx)UPVC double glazed window to the rear elevation, laminate flooring, wall mounted radiator, breakfast bar, a range of wall and base units with worksurfaces over incorporating a sink and drainer unit with swan neck mixer tap over, space and plumbing for a washing machine, space and point for a fridge, integrated microwave, integrated dishwasher, oven with induction hob over and extractor hood above, laminate flooring.
Lounge Diner
3.5 x 4.0 approx (11'5" x 13'1" approx)Laminate flooring, two double glazed windows to the front elevation, wall mounted radiator, fireplace, ceiling rose, ample space for a dining table, door leading off to the WC.
WC
1.4 x 0.8 approx (4'7" x 2'7" approx)WC, wash hand basin with mixer tap, tiled splashbacks, laminate flooring.
Landing
Carpeted flooring, access to the loft, doors leading off to:
Bedroom One
3.5 x 3.4 approx (11'5" x 11'1" approx)Double glazed window to the rear elevation, wall mounted radiator, wooden flooring, fireplace, panelling to the wall, stained glass internal window.
Bedroom Two
2.8 x 3.5 approx (9'2" x 11'5" approx)Two double glazed windows to the front elevation, wall mounted radiator, wooden flooring, fireplace, stained glass internal window.
Shower Room
1.0 x 1.5 approx (3'3" x 4'11" approx)Tiled splashbacks, WC, handwash basin with mixer tap, extractor fan, shower cubicle with mains fed shower over.
Agents Notes: Additional Information
Council Tax Band:
Local Authority: Gedling Nottingham
Electricity: Mains supply
Water: Mains supply
Heating: Mains gas
Septic Tank : No
Broadband: BT, Sky, Virgin
Broadband Speed: Standard 16mbps Ultrafast 1000mbps
Phone Signal: 02, Vodafone, EE, Three
Sewage: Mains supply
Flood Risk: No flooding in the past 5 years
Flood Defences: No
Non-Standard Construction: No
Any Legal Restrictions: No
Other Material Issues: No
FREEHOLD INVESTMENT GENERATING £37,420 PA - 1 x COMMERCIAL UNIT - 2 x RESIDENTIAL UNITS
Energy Efficiency and Environmental Impact
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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