13 Market Place, Heanor, Derbyshire, DE75

Investment Consideration:
Rental Income: £1,200 p.a.
ERV ~ £6,600 p.a. GIY: 8.80%
VAT is NOT applicable to this property
Comprises first floor flat and second floor office premises
Total area size of 98 sq m (1,054 sq ft)
Property benefits from gas central heating
Nearby occupiers include Boots Pharmacy, Costcutter, Londis and Papa Johns Pizza, amongst others.

Property Description:
The property comprises first floor flat and second floor office premises and provides the following accommodation and dimensions:
Residential Flat: 2 Rooms, Kitchen, Bathroom/WC 84 sq m (904 sq ft)
Office Premises: 1 Room, WC 14 sq m (150 sq ft)

Tenancy:
The first floor flat is at present vacant. The second floor office is at present let to an Individual for a term of 18 Months from 1st September 2021 at a current rent of £1,200 per annum. Rent paid in advance to 28th February 2023. The Vendor will make an allowance on completion. Vendor may be able to offer 2nd floor vacant upon completion.

Tenure:
Leasehold. To be held on a new 999 Year Lease from completion at a ground rent of peppercorn.

Location:
Heanor is a busy market town situated approximately 10 miles north-west of Nottingham and 9 miles north-east of Derby. Junctions 26/27 of the M1 are some 4 miles to the south-east and north-east respectively.