21-23 Friar Gate, Derby, Derbyshire

Description

Description

Highly prominent mixed use investment. Popular Irish Bar offering live music, sports & events + 8 residential Lets. Fully Let. Producing £123,220 p.a. (c£100,000 after costs). Bar tenanted to 2038 with fixed increase to £55,000 p.a. in 2029 and a further Index Linked review in 2034.

Residential element converted / fully refurbished in 2021. Comprising 2x apartments, 4 x studios & a 4-bed HMO.

Viewing

Please contact us or visit the OMEETO website for full details and a virtual tour. Physical viewings with proceedable parties can be arranged on request by contacting our commercial property agents. OMEETO do not take any responsibility for any loss or injury caused whilst carrying out a site visit.

VAT

All figures are quoted exclusive of VAT. We are advised the Bar (the commercial element) is registered for VAT. VAT will be applicable at the prevailing rate however subject to the qualifying criteria being met the parties may treat the purchase TOGC.

EPC

Bar D(95), Flat A C(71), Flat B C(70), Flat C D(56), Flat D E(54), The Cluster E(41), Apt 1 and Apt 2 C(72).

Key features

• Fully Let @ £123,220 p.a. (c£100,000 after costs)
• Bar on effective FRI lease to 2039 @ £47,500 p.a.
• 8 resi units on AST's producing £75,840 p.a. Gross
• Highly prominent building
• Superbly positioned
• Opposite University College of Law & New Business School