Derby, DE21 4TR | Investment Property for Sale | VES-DE21-001

Opportunity to buy 2-bed 3rd fl. tenanted flat close to Derby centre earning £6,000 rent pa

£130,000

Purpose Built Flat

VES-DE21-001

INITIAL INVESTMENT

£59,400

GROSS RENT / YIELD

£6,000 / 4.6%

NET RENT / YIELD

£3,389 / 2.6%

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The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£300

SERVICE CHARGE

£919

2 bedrooms

2 bathrooms

1 reception room

TBC

Unfurnished

Leasehold

  • Lease started: 2007

  • Length of lease: 125 years

Property is tenanted - we are waiting for tenancy details

Additional Information

  • 2-Bedroom third floor apartment in a purpose built apartment block

  • Tenanted buy-to-let property generating £6,000 gross rent annually.

  • Fully fitted kitchen with gas hob and integrated oven, juliette balcony and master bedroom boasts an en-suite shower room.

  • Communal parking with dedicated parking space

Property Location

  • Located 1.2 miles of the town centre Derby, which is an ideal area for professionals, or a small family with many educational institutions, nurseries as well several industrial estates nearby.

  • 1.2 miles of town centre, boasting High Street retail, local shops, the Intu shopping centre , 3 cinemas, Derby theatre, leisure centres and many entertainment venues.

  • 1.6 mile of Derby Railway Station, with connection to Manchester, Birmingham, Leicester and Nottingham. There is a bus stop within walking distance of the property.

Floorplans

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.

Financials

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Rental Income

GROSS RENT PER ANNUM

£6,000

Equivalent of £500 per calendar month (PCM).

GROSS RENTAL YIELD

4.6%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£3,389

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

2.6%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£2,611

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

All financial information is provided as a guideline only, is based on estimates and assumptions and is subject to change. Buyers are advised to seek independent financial advice. Capital at risk.

About Derby, East Midlands

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.

Magnus Court,

Derby,

Derby,

England,

DE21 4TR

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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