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870 Osmaston Rd 2,112 sq ft 100% Let Retail Property Derby DE24 9AB £225,000 (£106.53/sq ft)
Investment Highlights
- Includes a ground floor retail unit along with an upper floor self-contained one bedroom apartment.
- Located within a well-established mixed-use parade.
- Passing rent of £15,000 per annum exclusive, rising to £22,800 per annum when fully let, reflecting a 10.13% revisionary gross yield.
- The property is available to purchase for £225,000 subject to the existing tenancy.
Executive Summary
The property is available to purchase for £225,000 freehold subject to the existing tenancy. The ground floor is let to a Funeral Directors on a 6-year Full Repairing and Insuring lease from 20th November 2020, at £15,000 per annum exclusive, with no break clauses and a back-dated upwards-only rent review at the 3rd anniversary. The tenant is responsible for maintaining the external windows, doors and shop frontage of the demise they occupy, along with a 50% contribution to any roof repairs to the external two-storey section of the property. The first-floor flat is currently vacant, however has the potential to be let at £650 pcm.
Property Facts Under Offer
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront
Property Size
2,112 sq ft
Costar Property Class
C
Year Built
1990
Price
£225,000
Price per sq ft
£106.53
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Plot ratio
0.97
Total Plot Size
0.05 ac
Frontage
50 ft on Osmaston Road
Amenities
- 24 Hour Access
- Corner Lot
- Security System
- Signage
- Storage Space
- Smoke Detector
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870 Osmaston Rd
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