Residential Development
The property, originally the Portland Hotel and public house is a substantial building on a corner plot of three storey traditional brick construction with attractive exterior including feature brickwork and mouldings. There are wooden casement windows with some retaining original stained glass detailing on the first floor windows on the front elevation.
The building has secured planning for a residential property in multiple occupation with a total of 20 separate studios.
The studios each have an en-suite shower room with wash hand basin and wc.
Substantial works have already been completed to form the partitions for the individual rooms with plaster and painted finished and the first fix for electrics and plumbing are also completed. Some of the en-suites have tile works and fixtures installed.
The plans allow for 11 of the studios to have their own kitchenette and there are four separate communal kitchen and lounge areas over the three floors.
There is a small part single and part two storey outbuilding to the rear with planning for shared workspace, gym and sauna although none of these works have been commenced. This building has had some fire damage.
Externally there is a small enclosed courtyard with plans providing for cycle rack storage although could potentially provide some parking.
Further plans have been drafted to remove the communal kitchen/lounge areas to create additional Studios with all studios having a kitchenette. A total of 25 self-contained studios could be achieved, subject to any necessary amendments to planning.
Plans available on request.
PLANNING:
The property has planning consent under Application 23/00268/FUL for change of use from retail unit with flats above (Use Classes E and C3) into four flats in multiple occupation (Sui Generis) for 20 Rooms.
Full details on planning and associated floor plans are available on request or via the eplanning/derby.gov.uk - quoting the application number above.
LOCATION:
The property is situated in a prominent corner position on London Road approximately 1 mile south of Derby city centre and within close proximity to Pride Parkway and Ascot Drive. The surrounding area is a mix of residential properties alongside commercial offices and industrial uses at the adjacent RTC Business Park and City Gate development opposite.
Freehold. Vacant possession upon completion.
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.
