Land for sale

Property details
  • Property ID : 11793
  • Property Status : For Sale
  • Property Type : Land
Description

0 Sq Feet Land For Sale in Investment Opportunity, Chapel Street/ Sitwell Street, Spondon, Derby, Derby, Derbyshire 11793


Guide Price £600,000 to £650,000 Family owned long term Investment Portfolio offered as a once in a generation opportunity to acquire a cohesive Freehold range of properties in the heart of Spondon. Currently returning circa £56,000 p.a. There is potential for increased income from the existing units and further development subject to planning. The properties and site are situated in the heart of Spondon village thereby providing a key location to the local trading. General Information General Information €“ The properties and businesses as currently let will be unaffected by a sale, the buyer gaining the benefit of the ongoing income. The majority of the leases have not had rent reviews since initial occupation. Unit 1 Benefitting from a long term occupancy holding over on current lease £3840 p.a. Unit 2 Ongoing occupancy on a yearly lease £4800 p.a. Unit 3 Long term occupancy on yearly lease £3600 p.a. Unit 4 Existing tenancy running from 2014 current rent £6000 p.a. Unit 5 Benefitting from a 7 year lease from 2020. £8400 p.a. Unit 6 Recently Let with a 5 year lease due to commence Sept 2020. £7200 p.a. Flat 1 Occupied on an Assured Shorthold Tenancy from 2016 £4740 p.a. Flat 2 Recently become available after a long term tenancy £5100 p.a. Flat 3 Occupied on an Assured Shorthold Tenancy from 2018 £4788 p.a. Flat 4 Occupied on an Assured Shorthold Tenancy from 2016 £4620 p.a. Flat 5 Occupied on an Assured Shorthold Tenancy from 2016 £4800 p.a. Flat 6 A larger 2 Bedroomed apartment recently become vacant after a long term tenancy expected to deliver £5400 p.a. Once returned to the market. General Site To the rear of the property there is a Car Park owned and being sold within the portfolio servicing the businesses and flats. The Car Park is accessed by a Private Drive leading from Chapel Street. Long Term a new owner may decide upon a comprehensive redevelopment which subject to any ongoing leases and planning approvals might encompass the whole area. Potential Development Plot Currently providing a gated pedestrian access from Sitwell Street there is a gap between properties that may lend itself, subject to planning approval, to an "infill" property creating a further shop unit and flat above thereby extending the site opportunities and revenue.

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