Mixed Use
A mixed use investment opportunity located along Vernon Street, close to Derby City Centre. The property is Grade II Listed and comprises two apartments and a commercial unit held on a long lease, along with an office suite offered with vacant possession. Current rent passing £30,060 per annum with scope to circa £37,000 per annum, once the office is let.
Flat One
Held on an AST commencing 11/03/2025 producing £775 pcm /£9,300 pa.
Flat Two
Held on a Periodic Tenancy AST producing £730 pcm/£8,760 pa.
Pharmacy
Held on a 15 year lease commencing 01/06/2024 with 3 yearly rent review, (£3,000 deposit held) and rent passing of £1,000 pcm/£12,000 pa.
Rear Office Suite
Recently vacated and was previously occupied continuously since 2014.
Total income £30,060 per annum with rear office ready to lease.
The property benefits from a garden which could be used for parking and or an extension subject to planning approval. We are advised adjacent properties have been extended in the past. The property has a shared access drive with the neighbouring property.
Derby with an estimated population of 250,000 in the city and surrounding areas has extensive transport links with other areas of the country. The M1 motorway passes about ten miles (16 km) to the east of the city, linking Derby southwards to the London area and northwards to Sheffield and Leeds. Other major roads passing through or near Derby include the A6, A38, A50, A52 (Newcastle-under-Lyme to Mablethorpe, including Brian Clough Way linking Derby to Nottingham) and A61 (Derby to Thirsk via Sheffield and Leeds).
Please be advised that the auctioneers have not personally inspected the property and the photographs were taken prior to the tenancies. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
Freehold. Part let/part vacant.
Yes
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 3.6% of the purchase price (subject to a minimum of £6,000 inc. VAT).
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
