The property comprises a detached retail unit and warehouse arranged over ground floor with first floor two bedroom flat occupying a self-contained site.
It is of a brick construction under a series of interlocking pitched roofs incorporating full length glazed elevations to the ground floor incorporating independent access to the first floor flat.
The property benefits from forecourt parking for six vehicles together with independent gated access running alongside the property to a rear yard and loading area.
The building is of a traditional brick construction having part tiled and rendered elevations with fair faced brick to the side elevations.
Internally, the accommodation is configured to provide an open plan sales area, incorporating staff welfare facilities, together with extensive warehouse storage facility to the rear.
Location
Alvaston is located to the east of Derby City Centre, south of Raynesway (A6) thereby providing excellent road connectivity to the National motorway network via the Derby Southern Bypass and the M1 (Junctions 24A/24).
The property occupies a prominent position fronting London Road (A6) and forming part of an established neighbourhood centre serving the wider and significant residential catchment area.
Neighbouring occupiers include Tesco Express, Manor Pharmacy, Coral, Spencer’s Pet Centre, Subway and The Co-operative Food and Travel, to name but a few.
Accommodation
The property has been measured on a gross internal basis and all figures are quoted for guidance purposes only.
Ground Floor Retail - 3,493 sq ft (324.542 sq m)
Rear Store - 424 sq ft (39.401 sq m)
Rear Warehouse - 2,157 sq ft (200.373 sq m)
Total - 6,074 sq ft (564.316 sq m)
In addition to the above, there is a two bedroom first floor flat.
Terms
Occupational Tenancy - The ground floor of the property is let in its entirety to Burton upon Trent & District YMCA under the terms of the lease expiring 30 April 2021 at a rental of £XXX per annum.
In addition, the first floor flat is let on an Assured Tenancy Agreement (AST) at a rental of £XXX per annum (£XXX pcm).
Covenant - Burton upon Trent & District YMCA is rated O1 by Dun & Bradstreet, which represents a minimum risk of business failure.
Tenure - The property is held freehold.
EPCs - The property has an EPC Rating of C60.
Legal Costs - Each party to bear their own legal costs in this transaction.
Proposal - The vendor is seeking offers in excess of £XXX (Four Hundred & Seventy Five Thousand Pounds), subject to contract and exclusive of VAT, for the benefit of the freehold interest in the property. This price reflects a net initial yield of 8.69% after purchasers costs of 4.60%
Specification
- Excellent high profile neighbourhood centre location
- Large self-contained site with off street parking
- Self-contained two bedroom first floor flat
- Let to Burton upon Trent & District YMCA, expiring 30 April 2021 at £XXX per annum, exclusive
- First floor flat producing £XXX per annum (£XXX pcm)