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Development of 22 apartments to go under the hammer

27th May 2016 – SDL Graham Penny, the new name for the most successful auction house in the East Midlands, has a large and rare city centre development opportunity going under the hammer in its next auction with an attractive *guide price of only £300,000+.

Tanglewood Mill in Coke Street, Derby is a three storey mill complex with planning permission for 22 one and two bedroomed apartments, five ground floor workstations and parking on-site for all units. The lot is set to be sold on Thursday 9th June at the iPro Stadium.

SDL Graham Penny managing director Andrew Parker commented: “The Tanglewood Mill development would make an excellent purchase for a developer looking to sell the individual units, or as a long term rental investment. Alternatively office or commercial development could be considered subject to planning permission.”

The property is believed to have all mains services available, however no tests have been carried out to any services, installations or fixtures and fittings within the property and therefore prospective purchasers are advised to undertake their own investigations concerning their suitability and condition.

DerJun TanglewoodMill2SDL Graham Penny is given to understand that due to the age and construction of the property, it may contain asbestos and other hazardous material. No asbestos or environmental report has been commissioned and purchasers are to make their own investigation. Planning consent was granted by Derby City Council under DER/04/10/00433/PRI. An extension of time for a further three years was granted on 10th September 2014.

There are 75+ lots going under the hammer in the Derby auction on Thursday 9th June at the iPro Stadium, all of which are detailed in a combined catalogue along with another 25+ lots entered into the Leicester auction on Tuesday 14th June at the King Power Stadium.

Tanglewood Mill, Coke Street, Derby, DE1 1NE has a guide price of £300,000+ and will be going under the hammer at the iPro Stadium on Thursday 9th June. The legal pack will be available online for any potential buyers to download for free no later than seven days prior to the auction. Any viewings or requests for proxy, telephone or internet bids should be made with SDL Graham Penny on 01332 242 880.
*Each property is subject to a Reserve Price which may be different from the Guide Price. For full definitions click here