Town House
North Parade is situated about half a mile to the north side of Derby City centre, towards Darley Park and in the popular Five Lamps district. The parade itself is Listed and consists of very fine period residences of considerable character. Many have been divided into flats on account of the extensive nature of the accommodation, although it is believed that the properties either side of number 15 remain as private houses. Number 15 is divided into seven letting units, arranged over four floors.
The property meets all regulatory requirements for a high yield investment of this nature. The premises have a single gas central heating system.
The property has the benefit of a licence for house in multiple occupation granted by Derby City Council in June 2008.
To the front of the property is an attractive railed fore-court, and at the rear a manageable, mainly surfaced enclosed surfaced enclosed garden area.
In more detail the property offers the following -
Communal Entrance Hall
With staircases to upper floors and lower floor.
Flat Three
With entrance lobby, bed-sitting room with kitchen area, shower room/wc.
Flat Four
Comprising entrance lobby, combined bed-sitting room with kitchen area, separate wc with wash hand basin.
Stairs to First Floor and -
Flat Two
Having bed-sitting room with kitchen area off, shower room/wc.
Flat Seven
Having entrance lobby, bed-sitting room, separate kitchen, shower room/wc.
Flat One (split level)
Having bathroom, wc, stairs to upper level containing a bed-sitting room and a dining kitchen.
At Lower Ground Floor Level (Rear) -
Rear Entrance Hall
Flat Five
Having bed-sitting room with kitchen off, shower room/wc.
Flat Six
Having large bed-sitting room with feature fireplace and beamed ceiling, lobby off with access to kitchen, shower room/wc.
Tenancy Details
At the time of preparing these sales particulars six of the seven flats were let on assured shorthold agreements at a gross combined rent of £19,680 per annum. Assuming flat four was let, the combined income would exceed £22,000 per annum.
Directions
From Derby City centre leave along King Street (signposted Duffield and Matlock A6), continuing into the one way loop system. At Five Lamps double back on the one-way system and take the first available left hand exit into Edward Street. Continue to the extremity of the street (T-junction), turn left and North Parade is on the right hand side.
Vendors Solicitors/Licensed Conveyancers
Flint Bishop LLP, St. Michaels Court, St. Michaels Lane, Derby DE1 3HQ - telephone 01332-340211
Tenure
Freehold. Part let; part vacant.
Conditions Of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold or withdrawn.
The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Note
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or credit card deposits.
The sale of each lot is subject to a contract documentation charge of £395 (inc VAT) payable on the fall of the hammer.
For Sale by Auction: Wednesday 31st March
At Pride Park Stadium, Derby
Commencing at 11.30 am
SUPERB RESIDENTIAL INVESTMENT PROPERTY
Income £19,680 per annum, rental value £22,00 per annum
Sought after parade of Listed buildings just north of City centre
Divided into seven letting units with accommodation over four floors
Six of the seven flats occupied as at end February 2010
