18th October 2019
Former bank and pet shop among commercial opportunities going under the hammer
A former bank is among the lots expected to attract interest when it goes under the hammer at Pride Park Stadium, Derby, next week.
The 1920s character property formerly housed the HSBC bank but has been given planning permission for A4 (public house), A3 (restaurant) and A5 (hot food takeaway) use. The property, which retains many original features, is largely single storey with a staff room and ladies’ WCs on the first floor, and storage facilities and toilets on the lower ground floor. It has a *guide price of £138,000+.
Commercial auction valuer Nick Trow said: “This is just one of many commercial opportunities in our latest auction catalogue. This former bank in a prominent town-centre position is a fascinating building with some interesting period features and it offers a host of opportunities for a number of alternative uses, subject to planning permission.”
Landlords who want to start earning rent from their investment from day one should consider Charcoal Grill, 41 Wardwick, Derby, which is let to an established takeaway business at £16,500 per year, with a rent review outstanding. The three-storey property is in a prominent corner position in a parade of attractive Grade II listed buildings, close to the Debenhams redevelopment scheme. It has a guide price of £125,000+.
Another commercial property which will allow a landlord to hit the ground running is the mixed-use Coussins DIY, 271 Blagreaves Lane, Littleover, a DIY and pet store with a two bedroomed flat above, which has a guide price of £230,000+. Together, the two properties produce an annual income of £27,600.
It’s a great investment, according to Nick, who said: “You get two for the price of one with a mixed-use property, with rental income from both the ground-floor retail unit and the flat above. The DIY and pet store lease has just been renewed for a further six years, while the flat is let on an annual rolling lease. This property is in a great position in a busy parade of shops in popular Littleover, making this a great addition to a commercial portfolio.”
There are lots suited to developers looking to make their mark on the landscape, too, with a particularly exciting opportunity arising on the Derbyshire/Nottinghamshire border.
Langley Marina Site, Derby Road, Langley Mill, which has a guide price of £138,000+, is a brownfield site which has lapsed outline planning consent for a marina, hotel and nine apartments.
Nick is excited about the potential of the site. He said: “There are so many possibilities on this plot of land. It’s in a great location next to the A610 with direct links to the M1 so would be ideal for redevelopment but would also be suitable for storage land, subject to planning permission. This is a real opportunity for a developer to enhance the local area and I look forward to seeing what the new owner does with the opportunity.”
Back in Derby, a plot of land in Spondon already has outline planning permission for four semi-detached homes. The development site at 42 Lodge Lane, Spondon is tucked away in a prime residential development site within easy reach of the village shopping centre and has a guide price of £140,000+. The approved plans are for two bedroomed homes with gardens and parking, but an alternative scheme may be considered.
These are just a few of the 63 properties featured in the latest auction catalogue, which also includes properties being sold via online auction.
Nick said: “Whatever your interests, auction is the place to find your next property project. You can hit the ground running with a tenanted retail unit or start from scratch by building your own residential development. Whichever type of investment you choose, you know that with auction, your purchase will be fast, transparent and hassle-free, with the deal secured at the fall of the hammer.”
To find out more about any of the properties going under the hammer at Pride Park Stadium on Friday 25 October, or for information about bidding by telephone, online or by proxy, please click here