Latest News | 29 June 2021
Charity offices to be converted to homes following sale
Salloway Property Consultants has sold the former offices of Derby City Mission for conversion to residential use.
The office building in Normanton, which was owned and occupied by the homeless charity, has planning permission to be turned into a HMO (house in multiple occupation).
William Speed, of Salloway Property Consultants, who handled the sale for Derby City Mission, planned a ‘best and final bids’ sale process in anticipation of strong demand for the Charnwood Street property.
He said: “The market for HMO’s is incredibly strong, particularly for properties in this location and of this nature, which are relatively easy to convert.
“Planning permission for a six-bed HMO had already been obtained, so it was an ‘oven-ready’ investor opportunity.
“The level of interest was exceptional but once the best offer was accepted, it took just 24 days for the sale to exchange and complete. The process was quick and delivered the best result for our client in timely fashion.”
Umesh Kalra, from Kalra Property, which successfully bid for the building, said “It was refreshing to deal with an agent who was so pragmatic and familiar with a process such as best and final bids. The whole process, from start to finish, was incredibly smooth.
“From a landlord’s perspective, this property provides the perfect opportunity to add value to a development located in an area of Derby that is ever increasing in popularity.”
Julio Abraham, chief executive at Derby City Mission, said: “We were thrilled to work with Stephen Salloway and his team from Salloway Property Consultants.
“They are very professional and friendly and always deliver beyond expectation.”
