4 bedroom flat

Council tax band: TBC

FOR SALE - Investment Opportunity, Two Apartments, Industrial/Storage Unit, and Development Potential.

Property Overview:
A superb investment opportunity offering a fully converted former shop in the popular area of Alvaston, Derby. The property is currently arranged to provide two modern, well-furnished apartments, both of which are fully occupied on Assured Shorthold Tenancies (ASTs), achieving £650 per calendar month each.

Additionally, the property includes a versatile industrial unit/garage. This space offers excellent potential for a wide range of uses, including workshop, storage, or letting to a local business.

Key Features:
- Two high-quality self-contained apartments
- Each apartment generating £650 pcm (£1,300 pcm combined)
- Industrial unit/garage included &; suitable for workshop, storage, or letting
- Development potential to build further above the garage (subject to planning)
- Excellent rental yield potential
- Modern and well-maintained throughout

Income and Yield Potential:
- Current rental income from apartments: £1,300 per calendar month (£15,600 per annum)
- Projected rental income from the industrial unit: circa £500 per calendar month (£6,000 per annum)
- Estimated Rental Value (ERV): £21,600 per annum
- Projected Net Yield: circa 10.5%

Development Opportunity:
There is exciting development potential to build additional flats or a terraced house above the garage, subject to obtaining the necessary planning permissions, further enhancing both income and capital value.