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TENANT INFORMATION

The asking rent does not include charges that may be payable before and/or during the duration of the tenancy, therefore you may be required to make one or more of the following permitted payments:

A refundable holding deposit (up to 1 week's rent)

A refundable tenancy deposit (up to 5 weeks' rent (or 6 weeks' rent if the annual rent is £50,000 or more))

A payment to alter the tenancy agreement, when requested by the tenant (up to £50 inc VAT, or reasonable costs incurred if higher)

Payments associated with early termination of the tenancy when requested by the tenant

Interest, at a rate of up to 3% above the Bank of England's base rate, for late payment of rent (which is more than 14 days overdue)

A default fee for the replacement of a lost key or security device

Payments to service providers in respect of utilities, communication services, TV licence and council tax

Other payments, permitted under appropriate legislation, including damages.

A letting or property management agent in England must also be a member of a property redress scheme and a member of a client money protection scheme. For further information, or a copy of their membership certificates, please contact the agent directly.
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Floor area unspecified.
Description:
Ideally located in the heart of Derby city centre.
We are offering a block of 108x studios ideally located in the heart of Derby city centre at 10% gross yield.

Offered with vp or pre tented with international students.

Completion is Sept 2021.

Building will be fully refurbished to a high specification and be sold as an investment or with vacate possession. All units are self contained studios.

? Upper floors – 108 self contained studios
? Ground floor – 6,000 sq feet retail with a letting already pre arranged at around £50k pa.
Estimated income summary: £810k pa for 108x studios plus £50k pa retail ie £860k pa.

Forward purchase options on buying:-
1 forward funding and we would pay interest on the amounts funded
2 exchange contracts now with a view to completing in sept when the scheme is complete.

Seller can offer a 12 month rental guarantee with these options hence de risking the purchase.

Offered at : Gbp 9M (Freehold) reflecting a 10% gross yield
or at a lower price with vp.
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Date Listing Posted: 20/03/2021
Updated: 26/03/2021
Days on : 6

0 Bedroom For Sale

Babington Lane, Derby DE1

£9,000,000 Guide Price

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Britannia House, 1-11 Glenthorne Road,, Hammersmith
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Nearby Stations
Derby Station - 0.43 miles Peartree Station - 1.56 miles Spondon Station - 2.61 miles Duffield Station - 4.88 miles
Nearby Schools
St James' Church of England Aided Infant School - 0.32 miles Derby Cathedral School - 0.46 miles St Joseph's Catholic Voluntary Academy - 0.50 miles Rosehill Infant and Nursery School - 0.51 miles
Estimated running costs:
Mortgage £32,301
Energy £130
Water £0
Broadband £30
Home insurance £13
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Property Listing Disclaimer - [1914123]. The information displayed about this property comprises a property advertisement. PropertyHeads.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information and PropertyHeads.com has no control over the content. This property advertisement does not constitute property particulars. The information is maintained by London Property Zone, with the exception of the floor area and price per square metre which are obtained from the EPC, and the Owner Review which is verified by London Property Zone only. Please contact the selling agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland. PropertyHeads.com makes no warranty as to the accuracy or completeness of the EPC used to provide the floor area or the price per square metre. The information in the Owner Review is the opinion of the author only, it is not supplied by the agent and therefore may not covered by the Consumer Protection from Unfair Trading Regulations 2008.

Contains HM Land Registry data © Crown copyright and database right 2019. This data is licensed under the Open Government Licence v3.0.
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