6th September 2018

Modern block of 15 apartments for sale in Derby auction

A modern block of 15 apartments in the attractive Amber Valley region of Derbyshire is for sale in SDL Auctions Graham Penny’s Derby auction at Pride Park Stadium on Thursday 13 September.

The smart two bedroomed self-contained flats are in Victoria Court on the Chesterfield Road in Alfreton, which has a *guide price of £775,000+.

Twelve of the flats are already let producing a rental income of £58,860 per annum, and once fully let will achieve total rents of around £73,000 per annum are anticipated.

Robert Stone, senior valuer at SDL Auctions Graham Penny in Derby, said: “This is a great opportunity to acquire a substantial modern block of apartments in a popular location within walking distance of Alfreton town centre.

“Victoria Court is already bringing in strong rents and once fully let the yield could be nearly ten per cent, based on the guide price.”

The three-storey building has uPVC windows and electric storage heating throughout, and the apartments can be accessed via entrances at both the front and rear of the building.

All apartments have kitchens fitted with base units and integrated appliances including ovens, hobs, fridge freezers and free-standing washer dryers.

Mr Stone added: “Modern apartment blocks like this don’t often come to auction and so this is a superb investment opportunity.

“The development is within easy reach of the bustling Alfreton town centre and has excellent transport links to the A38 and M1 motorway, with easy links to Derby, Sheffield and Nottingham.”

The property is one of 65 lots in the next SDL Auctions Graham Penny Derby auction on Thursday 13 September at Pride Park Stadium. The full catalogue can be viewed here.