BB&J Commercial is pleased to announce the successful joint sale of 58 and 59 Friar Gate, Derby, two high-quality, Grade II Listed HMO (House in Multiple Occupation) properties, marking a significant transaction for the city’s private rental market.
Located within the North Western quarter of Derby City, in the popular historic Friar Gate conservation area, these adjoining properties presented a rare investment opportunity in one of derby’s most sought after locations. Comprising a total of 10 lettable rooms, both properties experienced a high level of interest from a number of local and regional investors. High occupancy levels and strong rental demand are driven by the properties close proximity to the University of Derby, were the majority of investors had been looking to capitalise on the increasing student population.
The transaction was overseen by Cameron Godfrey of BB&J Commercial, who commented:
“The level of interest we received for these properties highlights the ongoing strength of Derby’s HMO market.
Given their location and stature, we saw significant buyer engagement early on, leading to a best and final bids process that created a highly competitive environment.
With Derby’s upcoming Article 4 direction, the demand for well-established, fully compliant properties like these is only expected to rise.
Investors are increasingly seeking opportunities in prime locations where supply is becoming more limited and the sale of 58 & 59 Friar Gate reflects this trend.
It’s a great result for our client and a sign of the growing confidence in the city’s rental sector.”
If you’re looking to dispose of your commercial property, get in touch with our expert team today.
Visit our website – www.bbandj.co.uk
Give us a call – 01332 292825
Email the team – commercial@bbandj.co.uk
