stamp duty: £315,000
mortgage fees: £1,500
conveyancing fees: £123,000
NO OF UNITS
TOTAL SQ FT
PRICE SQ FT
Please note that this is an off-market opportunity that is available to qualified buyers only.
Please get in touch and quote the reference number above to speak to a member of our sales team who can advise on the information that will be required from you in order for us to be able to share more detailed and confidential information related to the opportunity.
Opportunity to acquire a purpose-built student accommodation apartment block with freehold located in Derby.
The block comprises 108 studio apartments spread over 5 floors, ranging in sizes between 194 sqft to 280 sqft. The vendor is looking to convert the ground floor commercial units into another 15 studio apartments.
Each apartment comes fully furnished including kitchen appliances, a double bed and a desk. The communal areas extend to 6,000 sqft and include a gym, cinema room, dining areas and launderettes.
The building is fully let for the 2022-23 academic year generating an annual income of £860,000 based upon 50-week term tenancies. The anticipated annual income for all 123 units is £1,020,000, also based upon 50-week term tenancies.
The vendor provided the latest operating costs, which are as follows:
The student block is located in the centre of Derby with plenty of amenities on the doorstep. Transport links within the area are excellent. There are several bus stops just a short walk away and the nearby inner-city ring road connects to all major roads leading out of Derby. The closest train station is Derby railway station allowing travel to other cities in the North East, South West as well as London.
The vendor is seeking offers in the region of £10,500,000 (inclusive of freehold).
Please contact our sales team for further details.
Documents available on request, please contact for viewings or further questions.
The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.
Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.
Derby is a city in the county of Derbyshire in the East Midlands of England. It is located on the banks of the River Derwent in the south of Derbyshire, around 15 miles west of Nottingham and 37 miles north east of Birmingham.
This area is serviced by Derby Midland railway station which is managed by East Midlands Trains. East Midland Trains operates a 2 train per hour (tph) over the Midland Main Line southbound to London St Pancras via Leicester and northbound to Sheffield. Other local routes are operated by East Midland Trains, with frequent services on the Nottingham – Matlock Derwent Valley Line and the Derby – Crewe via Stoke-on-Trent lines. CrossCountry run inter-regional services to Newcastle and Edinburgh Waverley northbound and Plymouth via Bristol Temple Meads and Reading southbound (both via Birmingham New Street).
Shopping in central Derby is divided amongst three main shopping districts, these include the Cathedral Quarter, the St Peters Quarter and the Intu Derby shopping centre. The Cathedral Quarter was Derby’s first Business improvement District and includes a large variety of shops, boutiques, coffee shops and restaurants. This district also includes the Derby Museum and Art Gallery and Derby Central Library. The largest of these districts is the Intu Derby shopping centre which is the main shopping centre in the city, with around 199 stores, a food court and the 12-screen cinema.
There are many job opportunities in industry in Derby, it is a centre for advanced transport manufacturing, home to the world’s largest aero-engine manufacturer Rolls-Royce and Toyota Manufacturing UK’s automobile headquarters is south west of the city at Burnaston. Bombardier Transportation are based at the Derby Litchurch Lane Works were for many years the UK’s only train manufacturer and therefore the city was known as the railway centre of the UK. Derby is also home to the Royal Crown Derby, which is one of the longest-established businesses in the city and produces porcelain since the 1750s. There is also Infinity Park Derby which is a business park specifically for aerospace, rail and automotive technology.
In this area there is also a selection of local schooling options which could make this location ideal for young families looking for educational institutions in walking distance for their children. The Beckett Primary School offers mixed-sex education to the age of 11 and for those looking for education for their older children there is The Kingsmead School, which educated to the age of 16.
Point of reference - not exact location,
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