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Residential Development for sale

Five Lamps, Duffield Road, Derby

Offers in Region of £875,000

Property Description

Full description

Location - The property is situated in the popular residential suburb known as Five Lamps, which is approximately 0.6 miles (0.96km) north of Derby city centre. The Jurys Inn Hotel, Derby's Cathedral Quarter and Intu Shopping Centre can all be accessed by foot from the property via the St Mary's Bridge. The property benefits from excellent commuter links being located just off the main A6 which forms part of Derby's ring road giving access to J25 of the M1 motorway approximately 8 miles (12.9km) to the east. The A38 lies approximately 1 mile (1.6km) to the west.

Description - The property comprises a semidetached pair of late Victorian residences believed to have been constructed from a presumed solid brick construction beneath a pitched slate clad roof. The property was substantially altered and extended c2008 to provide 12 selfcontained residential units which have been completed to a good standard. The apartments generally provide either one or two bedroom accommodation, most have separate living room and bathroom facilities, all have gas central heating.

The property is situated within a site extending c0.085 hectares (0.21 acres).

The site provides c7 parking spaces. Buyers are advised the attached EPC is representative, each of the apartments are separately assessed and full certificates can be obtained from the agent.

Accommodation - The living accommodation extends approximately 388.9 sq m (4,186 sq ft). These dimensions include the living space and wash rooms but not corridors. The accommodation is made up of the following:

2 x duplex two bed
1 x two bed apartment
5 x one bed apartment
4 x studio apartment

Planning - We understand that the property benefits from a C3 (Residential Dwelling House) planning consent. Buyers are advised that the property is situated within the Strutts Park Conservation Area.

Services - We are advised that all mains services are available at the property and each of the apartments are separately metered.

Business Rates - It is our understanding that all of the apartments have a Council Tax Banding of A with the exception of apartments 9, 11 and 12 which are Council Tax Band B.

Tenure - The property is being offered for sale freehold subject to an existing tenancy to Derventio Housing Trust, expiring 31 April 2017. The tenancy incorporates annual rent reviews and a rolling tenant break, effective on six months prior written notice.

The passing rent is £72,000 p.a. With the landlord being responsible for general wear and tear. Derventio are responsible for any purposeful damage.

Price - Offers in the order of £900,000 for the freehold

Vat - All figures are quoted exclusive of VAT. We are advised that the property is not registered for VAT.

Legal Costs - Each party will be responsible for their own legal costs incurred with the transaction.

Viewing - Strictly by prior appointment with sole agent BB&J Commercial.

Contact - Christopher Wright
01332 292825

Location Map -

Energy Performance Rating -

Property Images -

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