Investment Properties: 30-31 Friar Gate, Derby


30-31 Friar Gate, Derby

OIEO £1,250,000 subject to contract

• Residential & Commercial City Centre Investment Opportunity.

• Located adjacent to the City Centre Campus of the University of Derby.

• Freehold.

• Comprises a newly converted Grade II Listed building and a new build detached building. The project was completed in August 2019.

• Providing 12 self-contained studio flats & 1 commercial ground floor unit with frontage to Friar Gate.

• Total net accommodation - 3,164 sq ft.

• Total overall accommodation - 3,885 sq ft.

• The residential accommodation is fully let & income producing at £7,237 per calendar month equating to £86,840 per annum.

• Ground floor commercial unit benefitting from A1, A2 & A3 planning.

• On completion a purchaser will receive a total income equivalent to £101,840 per annum.

• Offers are invited in the region of £1,250,000(One million, two hundred and fifty thousand pounds), subject to contract, and exclusive of VAT reflecting a Net Initial Yield of 7.70% assuming acquisition costs of 5.96%.