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Commercial Property for sale

6, St Margarets Drive, Chesterfield, S40

Offers in Region of £340,000

Property Description

Key features

  • *Ground floor lock-up hairdressing salon & premises
  • *3 furnished flats
  • *Lock-up garage/off-street parking
  • *Detached property comprehensively renovated, refurbished & refitted
  • *Potential gross rental income 33,120 pa exc.

Full description



Vendor - Mr. Cervi

Viewing - Only available strictly by prior appointment to be arranged by the Landlord owner with the tenants in occupation..

Services - All the usual mains services including gas, water, electricity and drainage are connected to serve the property as a whole.

Tenure - Advised freehold title deeds and documents have not been inspected by ourselves.

Offered for sale as an investment subject to and with the benefit of lettings in place at the time of enquiry/offer.

The sale will be inclusive of Landlords fixtures, fittings and furnishings, subject to the Landlords inventory to confirm a description and availability of these.


1.Lock-up hairdressing salon - £7,020 per annum exclusive

2.Three furnished flats - £100.00 per week each, £15,600 per annum exclusive

3.Lock-up garage/parking space estimated rental value £500.00 per annum exclusive

Total£23,120 per annum

Anticipated potential gross rental return on full occupancy - £23,120 per annum.

Guide Price - Offers invited in the region of £340,000 approximate 6.8% yield.

Local Taxes - Retail shop £2,250 Rateable value hairdressing salon and premises.

Three furnished flats each contained within Band A for Council Tax contribution purposes.

Lock-up garage subject to separate assessment

Local Authority - Chesterfield Borough Council, Town Hall, Rose Hill, Chesterfield S40 1AL

Solicitors - Banner Jones, 24 Glumangate, Chesterfield S40 1UA Andy Hay.

Location - This valuable Chesterfield town centre investment opportunity is considered well situated at St. Margarets Drive, just off Saltergate on the northern side of Chesterfields busy retail town centre Market Place and Market Hall.

Situated close to the busy professional office and business sector of the town, within a few minutes walk of Chesterfield Town Hall, the offices of the North East Derbyshire District Council currently offered for sale - Avenue House Surgery, the former Chesterfield Football Clubs Saltergate ground now redeveloped with mixed housing all offering an excellent surrounding catchment area.

The ground floor lock-up retail sales shop has a long history of use as a local well respected hair and beauty salon, refurbished and recently re-let to the present proprietor during 2012.

The residential flats are conveniently close to the town centre with surrounding opportunities for employment, commerce, education and entertainment, within this historic market town renowned for its famous Crooked Spire.

Directions - From Chesterfield town centre walk to the north west past Chesterfield Town Hall to Saltergate. Continue west beyond the former offices of the North East Derbyshire District Council, past Avenue House Medical Centre towards the Chesterfield football ground redevelopment. Turn right into St. Margarets Drive and the premises are prominently situated a short distance along on the left hand side.

General - No. 6 St. Margarets Drive comprises a prominent well maintained detached property which stands out from those surrounding, being of conventional masonry construction under modern tiled roof slopes, the elevation walls being cement rendered and well painted to offer a striking finish.

Within approximately the last five years the whole property has been comprehensively renovated and re-fitted by the present owner to include the provision of gas fired central heating systems and uPVC double glazing to the fenestration.

Separate central heating systems serve the lock-up hairdressing salon and premises and the three furnished flats which also have the benefit of modern up-to-date laundry equipment supplied for shared use.

Offered for sale as an excellent mixed retail hairdressing salon and residential investment opportunity which following refurbishment and refitting in recent years should provide a good long term investment which should require a minimum of maintenance expenditure for a good number of years to come.

Offering an excellent opportunity to obtain a good quality town centre mixed investment property owned by the present owner over many years and now offered for sale following earlier renovation and refitting and upon retirement.

Accommodation - The interior accommodation briefly includes

Ground Floor Hair Salon - Front entrance hall, Salon/sales area, internal lobby, Staff room/fitted kitchen with laundry equipment, boiler room/.store, Toilet with wc suite and wash hand basin

The accommodation with gas central heating and uPVC double glazing extends to a net internal area of 398 sq. Ft., 36.97 sq. M approx.

Residential Letting Accommodation - Equipped with uPVC double glazing and gas central heating

Ground floor entrance lobby, launderette area with automatic washing machine and tumble dryer installed, fully tiled walls, floor etc.

Flat No. 3 Ground Floor - Dining kitchen, refitted stainless steel single draining sink unit, base cupboards and work surfaces, wall cupboards, electric domestic hot water unit, fume extraction hood, space for dining table and chairs, power points, central heating radiator.

Bedsitting room, uPVC double glazed window, central heating radiator, oil filled electric radiator, 2 no. Built-in full height single wardrobes.

En-suite combined shower room and toilet fully tiled, Mira electric shower unit, shower screen doors, wash hand basin, low flush close coupled wc suite, Redring hot water unit over wash hand basin, steam extraction fan.

From ground floor entrance hall staircase to first floor landing, central heating radiator installed.

Flat No. 1 - Bedroom with uPVC double glazing, central heating radiator, oil fired radiator, power points, built-in double wardrobe.

Toilet with low flush wc suite, wash hand basin, Redring hot water unit, fully tiled, uPVC double glazed window.

Separate fully tiled shower with Mira electric shower unit, shower screen doors.

Dining kitchen, uPVC double glazed window, central heating radiator, stainless steel single draining sink unit, base cupboards, work surfaces, wall cupboards, electric domestic hot water unit, steam extraction hood.

Flat No. 2 - Inner hall to entrance.

Combined shower room and toilet, shower cubicle with shower screen door, Mira electric shower unit, wash hand basin, vanity cupboard, Redring hot water unit, low flush close coupled wc suite, fully tiled floor and walls, central heating radiator, steam extraction fan.

Breakfast kitchen, uPVC double glazed window, central heating radiator, space for dining table and chairs, stainless steel single draining sink unit, base cupboard, work surfaces, wall cupboards, electric domestic hot water unit, steam extraction hood.

Bedroom with uPVC double glazed window, central heating radiator, oil filled radiator, double wardrobe, power points, built-in boiler cupboard housing the Worcester gas central heating boiler serving conventional hot water radiators installed in all three flats and common areas, duly noting each flat also has the benefit of electric oil filled radiators as back-up or supplementary heating under the control of the tenants themselves if required.

Outside - Small forecourt.

To the left hand side there is an entrance to a brick built garage under tiled roof, currently occupied by the Landlord as a maintenance store room, this would provide covered parking together with an off-street car parking space to the front of the garage.

At the rear of the property there is a concrete surfaced enclosed private yard, may be used as an outside seating area by the tenants.

The property was comprehensively refurbished with new concrete interlocking tiled roof overhauled and re-clad we are advised approximately nine years ago 2005/6, exterior brickwork generally cement rendered and overpainted in white to front and rear elevations.

Under the comprehensive refurbishment scheme the owner advised the accommodation was completely rewired, re-plumbed, electric hot water units provided to each residential unit together with gas central heating, supplementary oil filled electric radiators.

The hairdressing salon has a separate gas central heating system, noted throughout the property are smoke/heat detectors with alarm call break points in the hairdressing salon and within the residential letting units also.

We have estimated a gross external area of 1,718 sq. Ft., 159.62 sq. M approx.., garage/store 222 sq. Ft., 20.59 sq. M approx..

A rare opportunity to acquire such a well maintained mixed commercial/residential investment opportunity so close to the town centre where over the years the present owner confirms there has always been a satisfactory level of demand from prospective tenants with regard to both the commercial side of the property and with regard to the residential units available.

For further information and viewing please contact the Selling Agent through whom all offers and negotiations should be conducted.


Date: 3rd February, 2015

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