85-89 King Street, Derby DE1 3EE
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Read more Read moreThis freehold mixed-use property, recently renovated in 2022/23, is located in the heart of Derby, near the Five Lamps area and within walking distance of the city centre and Friar Gate. The property comprises a ground floor commercial unit currently occupied by a hair salon, which is under a three-year FRI lease starting from September 2024, generating a rental income of £950 per month. Above the commercial unit, there are five residential apartments: Flat 1 is a one-bedroom unit (39 sqm), Flat 2 is a two-bedroom unit (44 sqm), Flat 3 is a duplex two-bedroom unit (56 sqm), Flat 4 is a one-bedroom unit (39 sqm), and Flat 5 is a duplex two-bedroom unit (50 sqm), all let on ASTs with monthly rents of £750, £800, £850, £750, and £800 respectively. The total gross rental income for the property is £58,000 per annum, reflecting an 11.2% return based on the guide price. The property also features a block-paved hard standing area at the rear. It is situated with good access to the A52 and M1 motorway. The property is located within a conservation area.
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