Skip to content

High street retail property for sale

Market Place, Derby, Derbyshire, DE1

£545,000

£90.40 per sq ft

Business rates & charges may apply

Leaworks Ltd, Nottingham
SIZE AVAILABLE

6,029 sq ft

560 sq m

SECTOR

High street retail property for sale

USE CLASSUse class orders: A1 Shops and B1 Business

A1, B1

Key features

  • Derby City Centre Investment Opportunity
  • Current Investment Yieid 7.52%
  • Currently Generating £41,000 Annual Rent
  • Sitting Tenants Currently In Situ
  • Grade II Listed Building
  • Planning Permission Granted - Floors 2 & 3 - 7 Bedroom HMO

Description

The subject properties comprise a mid-terraced three and four-storey building, traditionally constructed of traditional, with Nos. 35 and 36 Market Place being Grade II listed buildings. The properties currently generate a combined income circa £41,000 per annum let to the following tenants:

35 & 37 Market Place: Let to Hellenic Taste Limited on a 10-year FRI lease (due to service charge) commencing 25th July 2024 at a rent of £23,000 per annum exclusive.

36 Market Place: Let to Feng Chen on a 10-year FRI lease (due to service charge) commencing 2nd December 2016 at a rent of £9,750 per annum exclusive.

First Floor, 35, 36 & 37 Market Place: Let to Georgina Greaves & Sally Tickner-Mellor on a renewed 5-year FRI lease (due to service charge) commencing 1st August 2021 at a rent of £8,200 per annum. This tenant has maintained a presence in the property for over 10 years.

Tenant responsible for all windows, doors and shop frontages within the demised area, with annual service charge reviews and a rent review at the fifth anniversary.

The property has also been granted planning permission (2nd April 2025) to covert the second and third floors into a 7-bedroom HMO

Market Place, Derby, Derbyshire, DE1

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Derby Station0.7 miles
  • Peartree Station1.7 miles
  • Spondon Station2.9 miles

About Leaworks Ltd, Nottingham

Leaworks House, 10 Ronald Street, Nottingham, NG7 3GY

Leaworks Estate is landlord to all kind of properties over the UK including shopping complexes, schools, modern offices, retail shops, warehousing, training centres and light industrial sites.

Notes

These notes are private, only you can see them.

Disclaimer - Property reference market-place-de1. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Leaworks Ltd, Nottingham. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data ©OpenStreetMap contributors.