Key Information
- Approx 6,479 sq ft (601 sq m)
- Planning secured for residential property in multiple occupation with 20 Rooms
- Conversion works advanced including first fix elecs/plumbing
- Being sold at auction Thurs 25th September via SDL Property Auctions
- Being sold at auction on Thursday 25th September via SDL Property Auctions. Guide freehold £400,000
The property, originally the Portland Hotel and public house, is a substantial building on a corner plot and is of three storey traditional brick construction with attractive exterior with feature brickwork and mouldings. There are wooden casement windows with original stain glass detailing on the first floor windows. The building has secured planning for change of use from Retail with Flats into four flats in multiple occupation providing a total of 20 rooms. The rooms essentially provide studio style accommodation, each of which have an en-suite shower room with wash hand basin and w.c. Substantial works have already been completed to form the partitions for the individual rooms with plaster and painted finishes and the first fix for electrics and plumbing are also completed. Some of the en-suites have tile works and fixtures installed. The plans show for four separate communal kitchen and lounge areas. There is a small part single and part two storey outbuilding to the rear with planning for shared workspace, gym and sauna although none of these works have been commenced. This building has had some fire damage. Externally there is an enclosed courtyard with plans providing for cycle rack storage although could potentially provide some parking. Full plans and details available on request
Location
The property is situated in a prominent corner position on London Road approximately 1 miles from Derby city centre and within close proximity to Pride Parkway and Ascot Drive The surrounding area is a mix of residential properties alongside commercial offices and industrial on the adjacent RTC Business Park and various commerce, offices and healthcare on the City Gate development opposite.
VAT
The position regarding VAT is to be confirmed.
Rates
The property is currently listed as Public House and Premises and has a rateable value of £3,000. Source: VOA
Services
We understand all mains services are connected to the property.
EPC
The premises have an EPC assessment of: F (145). Conversion work shave commenced on the property and a new EPC would be required on completion by the purchaser.
Legal Costs
Each party is to bear their own legal costs incurred.
Planning
The property has planning consent under Application 23/00268/FUL for change of use from retail unit with flats above (Use Classes E and C3) into four flats in multiple occupation (Sui Generis) for 20 Rooms. Full details on planning and associated floor plans are available on request or via the eplanning/derby.gov.uk - quoting the application number above.
Viewing
Viewings are by appointment with Innes England or our joint agent SDL Property Auctions -