Mixed Use
***Potential high yielding freehold mixed use opportunity***
Well located in the heart of Duffield Village, is a large mixed use property with ground floor retail unit and two first floor luxury fitted two bedroomed apartments, all offered for sale with immediate vacant possession.
In our opinion, the retail unit would let for circa £35,000 per annum. The two apartments we would expect a rental income of £950 per calendar month per unit. The potential combined gross rental income when fully let will be in the region of £57,800 per annum. This represents an impressive 12.1% return based on the guide price.
The two-storey building is of traditional brick construction under a pitched tiled roof. The ground floor features an attractive period style wooden frame retail frontage which has been painted blue. The first floor is rendered in white with grey painted attractive sash window frames.
The property comprises a ground floor retail/restaurant premises which has been extended and renovated in part. Externally there is access to a small, shared courtyard. The property is currently in a shell condition.
The first floor comprises of two apartments, both of which have been newly refurbished to a good standard and consist of two double bedrooms, a kitchen and bathroom. Both flats are currently vacant and ready to let.
There is no allocated parking available for the premises.
The property is located in a strong prominent roadside position on Town Street (A6) in the heart of Duffield, an affluent village within the Amber Valley district of Derbyshire.
The A6 is an extremely busy key arterial route linking Derby city centre some 5.5 miles to the south and onto Belper (3 miles), Matlock (13 miles) to the north and beyond.
Duffield is an affluent village and a predominantly residential catchment, with this section of Town Street being the main retail and leisure offering with nearby occupiers including Birds Bakery, Treetops Hospice, and the Co-operative Food.
The building comprises the following -
1,588 sq.ft (148 sq.m)
635 sq.ft (58 sq.m). The flat comprises kitchen, bathroom, living room, two bedrooms.
775 sq.ft (71.9 sq.m). The flat comprises kitchen, bathroom, living room, two bedrooms.
2,998 sq.ft (279 sq.m)
The first-floor residential flats are currently vacant. The ground floor retail/restaurant premises is currently vacant and benefits from an alcohol license. The ground floor has been marketed at a guide rental of £27,000 per annum.
Please be advised that whilst our joint agent has conducted an inspection, the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
We have been made aware this property is in the Duffield conservation area. Prospective buyers are advised to make all necessary independent enquiries prior to bidding, as any bid made will be binding.
Both apartments have a council tax band of A.
Rivers and Seas - Medium. Surface Water - Very low
Solid brick, with internal insulation - Information taken from EPC.
Standard 17 mbps, Superfast 80 mbps and Ultrafast 1000 mbps show as available in this location
EE, O2, Vodaphone and Three show as available in this location.
Sky, Virgin and BT show as available in this location.
These sales details are awaiting vendor approval.
Freehold. Vacant possession upon completion.
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
On Street
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under and 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 fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of 1.2% of the purchase price (subject to a minimum of £1,500 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.
