Block of flats for sale in High Street, Derby DE73

The investment has a current income of £54,074 per annum, with scope to increase.

The block can be bought as a whole of broken up from 2 flats upwards.

Location
The subject property is located in the suburban village of Chellaston, on the Southern outskirts of Derby. It has a population of just over 15,000 according to the latest census and is a predominately residential area. It has good access to the Derby Southern Bypass which is approximately 1,000 metres away from the property.

Description
There are 9x2 bedroom + box rooms, duplex apartments which are accessed by a staircase at the side of the building, leading up to a rear walkway. To the front of 5 of the flats are balconies overlooking the high street and to the rear of the building is a parking area which is on a first come first served basis.

Price
Offers in excess of £950,000 (nine hundred and fifty thousand pounds) for the 999 long leasehold interest. This represents a low capital value of £134.93 psf, which is less than replacement cost.

The purchaser may qualify for multi-unit relief on stamp duty. They should rely on their own enquiries in this regard.

VAT The premises are not elected for VAT
EPC Rating tbc
Tenure A new 999 year long leasehold at a peppercorn ground rent.
Anti money laundering procedures In accordance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 the Purchaser will be required to comply with our Anti Money Laundering policy. Further details on request.