Block of Apartments
An excellent freehold residential investment opportunity to acquire a substantial, brick built town house, comprising four self-contained flats just off Friar Gate in Derby city centre and within walking distance of the Ashbourne Road University campus.
Up until July 2025 (3 flats occupied, 1 vacant) annual income produced a combined rent of £20,940 per annum. Flat 1 requires some improvement works and when finished we would anticipate a rental income of approximately £700 per calendar month. Fully let we expect a combined rental income of circa of £29,000 per annum. This would represent an impressive 16% return based on the guide price.
In brief the uPVC double glazed and gas centrally heated living accommodation comprises a communal entrance hall. Flat One - lobby, living room, open plan kitchen, bathroom/wc, internal inner hall to lower ground floor, two bedrooms. Flat Two having its own access from the rear - kitchen, lounge with sun room area, bedroom, shower room/wc.
First Floor: Landing. Flat Three - entrance lobby, living room, bathroom/wc, open plan lounge/bed-sitting room and access to conservatory area. Flat Four - entrance lobby, inner lobby, three double bedrooms, stairs to top floor with shower room and utility area, large lounge and kitchen.
Outside to the front there is a small fore court and with basement pedestrian access leads to an enclosed rear garden. In our opinion there is scope for a rear extension subject to necessary planning consents.
Each flat is banded A for council tax purposes.
Freehold. Part let/part vacant.
- Heating Supply: Double Glazing, Gas Central
- 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 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.
