BB&J Commercial is delighted to bring to market a rare and exciting development opportunity in the heart of Derby’s historic Friar Gate Conservation Area.
28 Friar Gate, a stunning three-storey Grade II listed Georgian property, comes with approved planning consent for conversion into a nine-bedroom, twelve-occupant house in multiple occupation (HMO). This property is ideal for developers and investors seeking a high-yield residential project in a prime city location.
Situated within Derby’s vibrant North Western quarter, 28 Friar Gate enjoys a strategic location close to Derby City Centre, the University of Derby Business School redevelopment on Agard Street, and Derby Law School at One Friar Gate Square. With excellent local amenities, public transport links and an area bustling with student living accommodation, the property is ideally positioned for a successful HMO project.
Planning consent has been approved for the ground floor to features two spacious bedrooms each with en-suite facilities along with a shared kitchen and dining area. The first floor will comprise another four en-suite bedrooms while the second floor includesthree additional en-suite bedrooms.
Externally, the property includes a sizeable rear garden and a detached single-storey garage with parking for up to two vehicles.
28 Friar Gate is a must-see property and offers a strategic location close to city centre amenities and the University of Derby developments. With approved planning consent already in place, this is an excellent investment opportunity ideally suited for student or professional accommodation in a high-demand area.
Cameron Godfrey, a Surveyor at BB&J Commercial said:
‘Derby continues to see a strong demand for quality residential opportunities, particularly in the city’s student and professional markets and this property’s location and design make it ideally suited to meet that demand.
Friar Gate is one of Derby’s most sought-after locations with its mix of historic charm and proximity to key amenities. The University of Derby’s continued investment in facilities including the redevelopment of the Business School on Agard Street and the nearby Law School is driving sustained demand for well-located accommodation.
From a market perspective, HMOs in this area have consistently outperformed standard buy-to-let properties in terms of rental yield.
With planning consent already secured for a nine-bedroom HMO, this opportunity minimises the usual hurdles associated with listed buildings, allowing developers to focus on renovating a property that combines modern standards with the character of its Georgian heritage’.
With offers invited in excess of £400,000, this HMO opportunity is expected to generate significant interest.
Contact Cameron Godfrey or Mark Richardson today on 01332 292825 to discuss this opportunity in detail. View more information and the full property brochure on our website.
