Property Description

***POTENTIAL HIGH YIELDING INVESTMENT OPPORTUNITY*** Situated within walking distance of the city centre and the University campuses of Derby, is a Victorian property with accommodation arranged over three floors being part let, part vacant and producing an income of £12,300 per annum. Currently only two of the six rooms are let on periodic tenancy agreements and if the property were to be fully let on the previous tenancy agreements, then this would produce a gross income of £36,624 per annum. This represents an impressive 17.44% return based on the guide price. Constructed of traditional brick set beneath a pitched tiled roof, the well-equipped living accommodation has the benefit of being uPVC double glazed and gas centrally heated and in brief comprises entrance hall with Minton tiled flooring and original staircase, room 3 (vacant), room 4 let at £500 per calendar month and a large communal dining kitchen with built-in-appliances. To the first floor landing, room 2 is let at £525 per calendar month, rooms and 6 are both vacant. Further to the landing there are two fitted shower rooms and a separate bathroom with three piece suite in white with shower. To the attic is room 1 which is currently vacant. Outside the property is set nicely back from the road with parking for one vehicle. To the rear there is an enclosed and easy to manage garden. In our opinion there is scope to extend subject, to the usual planning consents. Note - The seller informs us that the property was a licensed HMO until 29th August 2025 and a renewal application had been submitted to Derby City Council and there have been no materialistic change to the property since then.

Tenure

Freehold

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