Property Description
Description
The property comprises a three storey building believed to be of concrete frame construction, with in fill cavity brick walls beneath a flat parapet roof.
The ground floor comprises a lock up sales shop/Use Class E premises with a principal display window fronting London Road and a return frontage to Eden Street.
Internally, the ground floor accommodation provides an open plan sales area, which has been sub-divided to create an ancillary storage area, kitchenette and WC facility.
The ground floor shop is occupied by way of an existing lease essentially drawn on a full repairing and insuring basis.
The first and second floors comprise a two bedroom maisonette which is occupied by way of a lease for a term of 999 years expiring 2999 at a peppercorn rent.
Accommodation
Measured on a Net Internal Area (NIA) basis in accordance with the RICS Code of Measuring Practice 6th Edition.
Ground Floor
Max Internal Width 16’5” ( 5.00 m)
Shop Depth 49’8” ( 15.90 m)
Sales Area 512 sq ft (136.0 sq m)
Kitchenette 31 sq ft ( 2.9 sq m)
Maisonette – Not inspected or measured
First Floor: Entrance hall, Kitchen and Lounge
Second Floor: Two Bedroom and Bathroom
Terms
The property is offered for sale freehold and subject to the existing lease arrangements.
Price Guide
£150,000
Value Added Tax (VAT)
Please note that VAT is NOT payable.
Measurements
1287 London Road Alvaston Derby - Parkgate Mobility| Measurement | imperial | metric |
|---|
| Ground Floor | 538 sq.ft | 50 sq.m |
| Total Floor Area | 538 sq.ft | 50 sq.m |
Agent's Disclaimer
Messrs. Raybould & Sons, for themselves and for the Vendors of this property whose Agents they are, give notice that: 1. These particulars do not constitute any part of, an offer or a Contract. 2. All statements contained in these particulars as to this property are made
without responsibility on the part of Messrs. Raybould & Sons, or the Vendor. 3. None of the statements contained in these particulars are to be relied on as statements or representations of fact. 3. Any intending Purchaser must satisfy himself by inspection or otherwise
as to the correctness of each of the statements contained in these particulars. 5. The Vendor does not make or give, and neither Messrs. Raybould & Sons, nor any person in their employment has any authority to make or give, any representation or warranty whatever in
relation to this property. 6. Dimension, distances and floor areas are approximate and given for guidance purposes only. Potential purchasers should satisfy themselves as to the validity of the guide figures given. 7. Information on tenure or vacancies is provided in good
faith and prospective purchasers should have the information verified by their solicitors prior to purchase. 8. Information on rating assessments, availability of services and Town and Country planning matters have been obtained by an oral enquiry to the appropriate
authorities. Messrs. Raybould & Sons do not warrant that there are no connection charges inherent in the availability of services to the unit.
Sale Terms
Offers are sought in excess of £150,000 subject to contract and exclusive of VAT. A purchase at
this price would reflect a net initial yield of 9% after allowing for
usual purchaser’s costs of 5.8%, and a capital value of £279 per sq ft.
Tenant, lease and rent summary
London Road Derby DE24 8QN
| Retail Unit | Tenant | Rental Income | Lease Dates |
|---|
| 1287 |
Parkgate Mobility |
£13,500 |
28.02.24 -start
27.02.29 -expiry
27.023.28 -break |
| Total Rent |
|
£13,500 |
|
Covenant Information:
Parkgate MobilityParkgate Mobility have twenty-three shops spanning Yorkshire, Derbyshire, Nottinghamshire, Leicester and Lincoln
Agent's Disclaimer
Messrs. Raybould & Sons, for themselves and for the Vendors of this property whose Agents they are, give notice that: 1. These particulars do not constitute any part of, an offer or a Contract. 2. All statements contained in these particulars as to this property are made
without responsibility on the part of Messrs. Raybould & Sons, or the Vendor. 3. None of the statements contained in these particulars are to be relied on as statements or representations of fact. 3. Any intending Purchaser must satisfy himself by inspection or otherwise
as to the correctness of each of the statements contained in these particulars. 5. The Vendor does not make or give, and neither Messrs. Raybould & Sons, nor any person in their employment has any authority to make or give, any representation or warranty whatever in
relation to this property. 6. Dimension, distances and floor areas are approximate and given for guidance purposes only. Potential purchasers should satisfy themselves as to the validity of the guide figures given. 7. Information on tenure or vacancies is provided in good
faith and prospective purchasers should have the information verified by their solicitors prior to purchase. 8. Information on rating assessments, availability of services and Town and Country planning matters have been obtained by an oral enquiry to the appropriate
authorities. Messrs. Raybould & Sons do not warrant that there are no connection charges inherent in the availability of services to the unit.
There are no plans available to view for this property. Contact the agent for further information
Property Location
The premises are located on London Road (A6) at the junction with Eden Street in Alvaston’s popular neighbourhood shopping centre.
Map
