Derbyshire town’s mixed-use property with £100,000-plus rents for sale at £1.395 million
A Derbyshire town’s mixed-use property that is bringing in rents of more than £100,000 a year has come up for sale with Bond Wolfe.
The commercial property agency is marketing Jubilee House, on the Nottingham Road in Ripley, for offers based on £1,395,000.
The two-storey property has two ground floor commercial units with 14 self-contained apartments above and is fully let for a total of £100,620 per annum, reflecting a potential net initial yield of 6.80%.
1 Nottingham Road extends to 4,947 sq ft and is let to United Carpets (Property) until March 2026 at £18,000 per annum, while the 3,896 sq ft premises at 1A Nottingham Road is let to the Foundry Gym until January 2024 for £15,000 per annum.
The 14 apartments above are all let on assured short-term tenancies at a combined rent of £67,620 per annum.
James Brady, commercial property agent at Bond Wolfe, said: “Jubilee House occupies a prominent position on Nottingham Road, with nearby occupiers including a HSBC bank branch next door, Lidl, Wetherspoons and Costa Coffee.
“The property is located in the heart of Ripley town centre and the nearby Market Place provides ample car parking and also houses the weekly open-air markets on Friday and Saturdays.
“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.
“Both Amber Valley Borough Council’s town hall and the Derbyshire Police headquarters are located in Ripley, which shows the importance of the town to the local area.”
Mr Brady explained that The Foundry Gym has been trading since 2014 and that the business had recently carried out a comprehensive refurbishment of the premises.
He added that the tenure of Jubilee House was freehold, subject to the existing tenancies, and that the 14 self-contained apartments included nine with one bedroom, three with two bedrooms and two studio apartments.
Anyone interested in arranging viewings of Derbyshire town’s mixed-use property or needing further information can call Mr Brady on 0121 525 0600 or email [email protected].