A rare opportunity has arisen to acquire a mixed-use investment property, reflecting a gross yield of 7.75%.
The property compromises a busy ground floor Post Office, let at £11,900 per annum until 31 December 2034 and an additional HMO, including five bedrooms pre-let from June 2022 to June 2023 at £28,670 per annum inclusive on an AST.
The unit is established on a busy parade on Kedleston Road, within close distance of the University of Derby and the city centre. Nearby occupiers include Sainsburys Local, a barbers and takeaway.
There is great potential for conversion of the rear outbuilding, providing further HMO room, subject to the appropriate consents.
The ground floor retail area compromises a busy Post Office with shop area, counter, and WC.
To the rear, there is a separate ground floor access to a five-bedroom HMO with ground floor kitchen and bedroom with en-suite. To the first floor, there are a further two en-suite bedrooms and two second floor bedrooms with a shared bathroom.
Additionally, to the rear there is a separate laundry room and former workshop, both of which provide an opportunity to further extend the residential element, subject to planning consent.
The accommodation has been measured on a Gross Internal Area basis in accordance with the RICS Code of Measuring Practice (sixth edition) is as follows:
- Post Office and WC: 42 sqm
- HMO:
- Ground Floor kitchen: 11.22 sqm
- Ground Floor bedroom one: 10.47 sqm plus en-suite
- First Floor living room: 23 sqm
- First Floor bedroom two: 11.1 sqm plus en-suite
- First Floor bedroom three: 13.9 sqm plus en-suite
- Second Floor bedroom four: 15.5 sqm
- Second Floor bedroom five: 18 sqm
- Shared bathroom (WC)
- Externally: Rear Laundry room: 12.2 sqm Rear Outbuilding: 16.12 sqm
The premises is available for sale on a freehold basis subject to the existing tenancies. The vendor will be accepting offers in excess of £525,000. This represents a maximum gross yield of 7.75%.
This is the type of mixed-use investment which is well sought after and being situated in such a popular location for both the Post Office use and the HMO accommodation, we anticipate a good level of demand.
Get in touch with our property experts today 01332 292825 or email commercial@bbandj.co.uk.
