Mixed Use Investment Property Now Available

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.


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