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Residential Investment, Flats 35A, 37A, 41D & 41E, Gregorys Way, Belper, DE56 0HS

2,195 Sq Ft / Other / Investment

For Sale - £380,000.00

Available - Last updated: 30 August 2024

The property consists of a modern development of 3 shops together with a convenience store probably erected some 20-25 years ago at the time of the construction of the residential development. At first floor level the property comprises 5 self-contained flats approached from the front forecourt, one of which (No 41C) has been sold off.

All of the flats are let on ASTs in accordance with the Schedule of Accommodation and Tenancies.

To the front of the property there is a large forecourt providing car parking for the retail aspect of the development.

Location

Belper is the only market town located at the heart of the Derwent Valley Mills World Heritage Site.

Belper’s economy was traditionally reliant on manufacturing industry, cotton spinning and textile production. Today the main employment sectors are retail and services, although some manufacturing remains.

The main shopping area is centred on King Street and Bridge Street, with the town having three supermarkets, namely Cooperative, Morrisons and Aldi.

In 2019 the town was the winner of the Great British High Street Award.

Gregorys Way forms part of a large, comprehensive, modern residential development situated approximately 1-1½ miles due south-east of Belper town centre.

Gregorys Way itself is a fairly long main throroughfare through the estate. This property is situated on the western side of Gregorys Way at its junction with Loom Close. Close to the property is the Busy Bees Day Nursery. The shops in this development serve the everyday needs of the adjacent residential estate.

Accommodation

35A Gregorys Way - 62 sq m (667 sq ft)

37A Gregorys Way - 68 sq m (732 sq ft)

41D Gregorys Way - 37 sq m (398 sq ft)

41E Gregorys Way - 37 sq m (398 sq ft)

Total - 204 sq m (2,195 sq ft)

Terms

Tenure - Leasehold for a term of 125 years from completion at a peppercorn if demanded, or by negotiation.

EPCs & ASTs - Flats 41D and 41E have an EPC rating of C, and 35A and 37A an EPC rating of D.

Copies of the EPCs and ASTs are available upon request.

Rents:

35A Gregorys Way - £460 pcm - £6,060 pa

37A Gregorys Way - £505 pcm - £6,000 pa

41D Gregorys Way - £505 pcm - £5,520 pa

41E Gregorys Way - £500 pcm - £6,060 pa

Price - Offers are invited at £380,000.

VAT - VAT is not applicable.

Identity Checks - In order to comply with Anti-Money Laundering Legislation, any purchaser will be required to provide identification documents. The required documents will be confirmed to and requested from the successful purchaser at the appropriate time.

Legal Costs - Each side to be responsible for their own legal costs.

Specification

  • 4 self-contained flats
  • Popular residential area on a modern estate close to Belper Town Centre
  • Current income £23,640 per annum
  • ERV £28,500 per annum
  • Break-up potential
  • Offers invited at £380,000

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
Offers are invited at For Sale Leasehold £380,000.00 NA

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Contact agents

Noel Roper

FHP Property Consultants

0115 882 1132



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