Jubilee House, Nottingham Road, Ripley, Derbyshire, DE5 3DJ
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Commercial development for sale
Key features
- Substantial mixed use town centre investment.
- 2 commercial units & 14 self-contained flats above.
- Tenants include United Carpets (Property) Limited.
- Fully let producing £108,000 per annum equating to a net initiaL yield of 7.87%.
- Asset management potential.
- Freehold - Offers based on £1,295,000
Description
Freehold Mixed-Use Investment Opportunity
Jubilee house is a substantial mixed use property comprising two ground floor commercial units with 14 self-contained apartments above. The property occupies a prominent position, nearby occupiers include HSBC (next door), Lidl, Wetherspoon and Costa Coffee. A new fibre glass roof was installed in 2023 with the benefit of a 10 year warranty.
Accommodation
1A Nottingham Road Occupied by Foundry Gym and extending to 3,896 sq. ft. The Foundry Gym has been trading since 2014 and have carried out a comprehensive refurbishment of the premises.
1 Nottingham Road Occupied by United Carpets (Property) Limited and extending to 4,947 sq. ft.
Upper floors A total of 14 self-contained apartments comprising 9 x 1 bedroom, 3 x 2 bedroom apartments and 2 x studio apartments - all let on AST's.
1a Nottingham Road - Foundry Gym - Lease start 11/08/2017 - Lease expiry 05/01/2024 - Passing rent £15,000
1 Nottingham Road - United Carpets - Lease start 27/03/2021 - Lease expiry 26/03/2026 - Passing rent £18,000 per annum.
14 Upper floor apartments - ASTs - Passing rent £75,000 per annum.
Total rental income: £108,000 per annum
Location
Ripley is a popular active market town in the heart of the Amber Valley with excellent
communication links across the region, being within close proximity to the A38 and A610. Amber Valley Borough Council's town hall and the HQ for Derbyshire Constabulary are both located in Ripley.
The property is located in the heart of the town centre and the nearby Market Place provides ample parking and also houses weekly open air markets on Friday and Saturday.
Tenure
Freehold Subject to the existing tenancies.
VAT
We are advised that VAT is applicable to the purchase price, although the sale is
likely to be treated as a TOGC.
EPC
Available on request.
Legal Costs
Each party are to responsible for their own legal costs that may be incurred in this transaction.
Anti Money Laundering
In accordance with anti-money laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.
Jubilee House, Nottingham Road, Ripley, Derbyshire, DE5 3DJ
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Ambergate Station3.5 miles
- Alfreton Station3.6 miles
- Belper Station3.9 miles
About Bond Wolfe, Commercial Sales
1st Floor 75-77 Colmore Row Birmingham B3 2AP
Bond Wolfe is a multi-disciplined property business specialising in property Auctions and property Agency with our head office based in Birmingham. Many of our highly experienced and dedicated team have been with the business for over 30 years.
We are truly proud of our Midlands roots and honoured to have represented the region since 1983. We also act for many clients across the UK and overseas too. Bond Wolfe has a great track record of selling, letting and managing property up and dow
Notes
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