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7-9 Derby Road, Chellaston, Derby

DESCRIPTION

  • A detached two storey property with a self contained two bedroom flat on the 1st floor. See attached particulars for full details and tenancy schedule.
  • Located in a busy parade on the Derby Road
  • Entirely let to One Stop Community Stores Limited, the ultimate holding company is Tesco Plc.
  • Let on a 25 year FR&I lease from the 29 September 1996, expiring on the 28 September 2021 (currently around 8.5 years unexpired)
  • A current passing rent of £32,500 pa
  • Self contained first floor two bedroom flat
  • The ground floor retail has been sub let to Valley Cids t/a Lighthouse Charity for £25,000 pa in year 1 and £26,000 pa until the next review date
  • Offers invited in excess of £375,000 subject to contract and exclusive of VAT
  • After allowing for purchasers costs of 5.8 %, a purchase at this level reflects a net initial yield of 8.2%
  • The first floor 2 bedroom flat is availalbe to let. Previously let on a 12 months AST at £395 pcm.

TERMS

Freehold.

RENT

ACCOMMODATION

Floor Size Price/Rent Rates Payable
Whole 2,367 sq ft - 220 sq m £375,000 STC
Total 2,367 sq ft (220 sq m)

LOCATION

Chellaston, a suburb of Derby, is located approximately 4.5 miles south of the city centre. The premises are situated on Derby Road, a main arterial road to and from Derby city centre. Nearby occupiers include The News Shop Post Office, Cellaston Butchers, a greengrocers and The Peak Pharmacy.

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