Friar Gate, Derby

SUMMARY: This prime investment opportunity is located in Derby's main professional and business district, next to the University of Derby School of Law and just 0.1 miles from the UoD Business School. It is also within a short 0.5-mile walk from Derby Market Place, making it an ideal location for students and professionals. The property is a Grade II listed building with planning and listed building approvals already granted, offering a well-positioned and ready-to-develop opportunity.

The estimated build cost for the project is £285,000, with a projected gross annual income of £84,000. The proposed rental structure includes a double occupancy studio with a kitchen at £950 per calendar month, two double occupancy studios with tea stations at £875 per calendar month each, five single occupancy studios with tea stations at £800 per calendar month each, and a single occupancy double en-suite room at £675 per calendar month, bringing the total gross rental income to £7,375 per month.

Included with the sale are key documents and reports such as roof works warranty documentation, planning and listed building consent, architectural drawings covering existing and proposed plans as well as building improvements, heritage assessments, environmental searches, an asbestos survey report, a land contamination report, a flood risk assessment, and a noise pollution assessment. Additionally, a 3D virtual walkthrough video of the proposed development, a build cost estimate and works schedule, a building insurance policy, an interior design estimate, and a ventilation system estimate are provided.

This opportunity presents a well-positioned and low-risk investment in a high-demand rental market, particularly appealing to students and professionals. With all necessary approvals in place and comprehensive documentation included, it offers a strong return potential in a sought-after city centre location. 

RENTAL SCOPE SUMMARY: The total projected gross rental income for the property is £7,375 per calendar month (£84,000 per annum). The rental breakdown is as follows:

A double occupancy studio with a kitchen is expected to achieve £950 per month. There are two double occupancy studios with tea stations, each generating £875 per month, bringing their combined total to £1,750 per month. The five single occupancy studios with tea stations are projected at £800 per month each, contributing £4,000 per month to the total rental income. Additionally, a single occupancy double en-suite room is expected to rent for £675 per month.

This rental scope reflects a strong return potential, particularly in a high-demand area near the University of Derby and the city centre's professional and business district. 

PROPERTY LAYOUT: The Ground Floor: includes a shared kitchen, dining, and living area, designed as a communal space for residents. It also features two individual studio rooms, each equipped with essential amenities. One of these studios includes a full kitchen setup, while the other has a tea station. Additionally, there is a bathroom facility and external access leading to the rear.

On the First Floor: the layout accommodates four studio units, each fitted with an en-suite and tea station, providing a self-contained living experience. The internal hallway efficiently connects all rooms while allowing access to shared facilities.

The Second Floor: mirrors the first-floor layout with additional four self-contained studios, maintaining a balance of privacy and functionality. These rooms are slightly adjusted to the available space but continue to offer en-suite facilities and tea stations.

Overall, the development is structured to offer a mix of single and double-occupancy studio units, ensuring a diverse range of rental options for tenants. The communal areas on the ground floor enhance the property's appeal, while the efficient use of space across all levels ensures an optimised rental yield. 

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Ready to embark on your property journey with confidence? Contact Tristram's today and let's turn your aspirations into reality! 

DISCLAIMER Money Laundering Regulations: Tristram's ask intending purchasers to produce identification documentation. Any delay in receiving this information may cause a delay in agreeing a sale.

Measurements: The room sizes are approximate and are only intended as a guide to the size of the property. We would advise you to verify any measurements that you may require.

Services: Please note Tristram's do not test services, any equipment or appliances in the properties that we market, therefore we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.

These particulars are issued in good faith as a guide to prospective purchasers, they do not constitute representations of fact or form part of any offer or contract. The particulars of any property we market should be independently verified by prospective buyers. Neither Tristram's Property Services Ltd nor any of its employees or agents has any authority to make or give any representation or warranty whatsoever in relation to this property. Tristram's has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.

While we endeavour to make our sales particulars as fair, accurate and reliable as possible, they are only a general guide for prospective purchasers, therefore if there is any point which is of a particular importance to you, please contact the office and we will be pleased to look into this for you.