Jubilee House, Nottingham Road, Ripley, Derbyshire, DE5 3DJ

Description

Jubilee house is a substantial mixed use property comprising two ground floor commercial units with 14 self-contained apartments above. The property occupies a prominent position, nearby occupiers include HSBC (next door), Lidl, Wetherspoon and Costa Coffee. A new fibre glass roof was installed in 2023 with the benefit of a 10 year warranty.

Location

Ripley is a popular active market town in the heart of the Amber Valley with excellent communication links across the region, being within close proximity to the A38 and A610. Amber Valley Borough Council’s town hall and the HQ for Derbyshire Constabulary are both located in Ripley. The property is located in the heart of the town centre and the nearby Market Place provides ample parking and also houses weekly open air markets on Friday and Saturday.

Accommodation

1A Nottingham Road – Occupied by Foundry Gym and extending to 3,896 sq. ft. The Foundry Gym has been trading since 2014 and have carried out a comprehensive refurbishment of the premises.
1 Nottingham Road – Occupied by United Carpets (Property) Limited and extending to 4,947 sq. ft.
Upper floors – A total of 14 self-contained apartments comprising 9 x 1 bedroom, 3 x 2 bedroom apartments and 2 x studio apartments - all let on AST’s.

1a Nottingham Road - Foundry Gym - Lease start 11/08/2017 - Lease expiry 05/01/2024 - Passing rent £15,000
1 Nottingham Road - United Carpets - Lease start 27/03/2021 - Lease expiry 26/03/2026 - Passing rent £18,000 per annum.
14 Upper floor apartments - ASTs - Passing rent £75,000 per annum.
Total rental income: £108,000 per annum

Tenure

Freehold – Subject to the existing tenancies.

VAT

We are advised that VAT is applicable to the purchase price, although the sale is
likely to be treated as a TOGC.

EPC

Available on request.

Legal Costs

Each party are to responsible for their own legal costs that may be incurred in this transaction.

Anti Money Laundering

In accordance with anti-money laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.