191 And 191a (Burley Court), Uttoxeter New Road, Derby, Derby, Derbyshire

Description

Description

The property comprises a freehold residential investment providing nine units over two buildings in a self-contained site of 0.26 acres fronting Uttoxeter New Road with off-street car parking.

191 Uttoxeter New Road comprises a detached Victorian two-storey dwelling of solid brick construction beneath a pitched roof that has been split into one spacious ground floor two bedroom dwelling and two first floor well-proportioned one bedroom dwellings. 191a (Burley Court) comprises of 6 flats within a modern two storey building of full brick elevations beneath a pitched tiled roof. Flat 3 and 4 comprise ground floor one bedroom dwellings; Flat 5 and 6 comprise two bedroom dwellings; Flat 7 and 8 comprise one bedroom dwellings. Each flat has a living room, kitchen and bathroom and benefits from a good quality specification.

The flats are all let on assured residential tenancies. The property generates a rental income of £73,440 p.a. in total. A breakdown is as follows:

191 Uttoxeter New Road:-
Ground Floor - £10,800 p.a.
First Floor Flat 1 - £8,400 p.a.
First Floor Flat 2 - £7,800 p.a.

191a (Burley Court) Uttoxeter New Road:-
Flat 3 - £8,340 p.a.
Flat 4 - £7,800 p.a.
Flat 5 - £8,400 p.a.
Flat 6 - £6,300 p.a.
Flat 7 - £7,800 p.a.
Flat 8 - £7,800 p.a.

We understand that given the flats proximity to the city centre and the Derby Royal Hospital that they have always let well with little to no vacancy over the last several years.

Location

Derby is a major commercial centre within the East Midlands region, situated approximately 8 miles west of Junction 25 of the M1 Motorway and 40 miles northeast of the City of Birmingham. The city has a resident population of approximately 260,000 and traditionally draws upon a stable industrial employment base, having longstanding historical connections with the railway industry and Rolls Royce engineering.

Uttoxeter New Road (A516) is an arterial road between the inner ring road and the Royal Derby Hospital which links to the A38 trunk road at Hospital Island.

191 Uttoxeter New Road and Burley Court are located some 1.5 miles from Derby City Centre and just 0.9 miles from the Royal Derby Hospital. The area is residential in nature with a collection of commercial uses at the junction with Uttoxeter Old Road. 191 Uttoxeter New Road and Burley Court are situated on the south side of the road. Burley Court is situated behind 191 Uttoxeter New Road within the same 0.26 acre plot.