1-3 Bridge Street, Belper, Derbyshire

Description

Investment opportunity to purchase four flats with a ground floor commercial unit situated in a thriving town

SUMMARY -
- Freehold investment opportunity
- Ground floor commercial unit plus four apartments
- Situated in a thriving town
- Ground floor let to Connells Group (Burchell Edwards)
- Neighbouring occupiers include Poundland, Costa and Superdrug
- The residential accommodation is let by way individual AST's
- Rental income of £40,020 per annum
- Offers in the region of £355,000 (Three Hundred and Fifty Five Thousand Pounds)
A purchase at this level reflects a Net Initial Yield of approximately 10.8%, assuming usual purchaser costs

LEASE SUMMARY -

The ground floor commercial unit is currently occupied by Connells Group (Burchell Edwards) with the lease commencing on the 28/09/12 and expired 27/09/2017. The tenant has continued to hold over and the current rental income is £18,000 per annum on an effective full repairing and insuring basis.

The four flats to the upper and rear floors are tenanted by way of AST's with the earliest lease commencing on the 26/11/2019. The current rent for the residential accommodation is £22,020 p.a.
Total current income : £40,020 p.a.

LOCATION -

The property is located on Bridge Street in Belper, a town and parish in the local government district of Amber Valley in Derbyshire.

Belper lies four miles south-west of the town Ripley, seven miles north of the major city of Derby and six miles west of the Nottinghamshire border. The nearest train station is approximately 150 yards away from the property with the East Midlands Airport being approximately 21.8 miles away. The site allows for easy access with the A6 being within 2.6 miles and the M1 being approximately 10.7 miles away.

1-3 Bridge Street is adjacent to King Street, a shopping parade with local and national occupiers including Poundland, Costa and Superdrug. Whilst being a thriving modern town, Belper is at the heart of the Derwent Valley National Heritage Corridor and is recognised for playing a significant role in the Industrial Revolution.

DESCRIPTION -

The three-storey stone fronted building under a pitch slate roof has a retail glazed frontage to the ground floor. The first and second floors provide residential accommodation.

The Ground floor retail unit features sales area, office, W/C and kitchenette facilities. Internally, this unit provides painted/plastered walls, suspended ceilings, florescent tile lighting as well as a combination of carpeted and vinyl floor coverings.

The commercial unit and residential accommodation has access to the rear yard space with the residential properties being accessible via a separate entrance on Bridge Street.

For more information, please see the attached brochure or contact the relevant agents.


Ground floor commercial unit plus four apartments

Situated in a thriving town

Neighbouring occupiers include Poundland, Costa and Superdrug

Rental income of £40,020 per annum

Offers in the region of £355,000 (Three Hundred and Fifty Five Thousand Pounds). A purchase at this level reflects a Net Initial Yield of approximately 10.8%, assuming usual purchaser costs

Key features

• Ground floor commercial unit plus four apartments
• Situated in a thriving town
• Neighbouring occupiers include Poundland, Costa and Superdrug
• Rental income of £40,020 per annum
• Offers in the region of £355,000 (Three Hundred and Fifty Five Thousand Pounds). A purchase at this level reflects a Net Initial Yield of approximatel