High Street, Chellaston, Derby

Property Details: • Type: Apartment • Tenure: N/A • Floor Area: N/A

Key Features: • 9 Self contained 3 bedroom flats • Populars residential area southwest of Derby City Centre with strong demand for residential accommod • Current low income £61,573.92 per annum • ERV £86,500 - £89,000 per annum • Offers invited at £900,000

Location: • Nearest Station: N/A • Distance to Station: N/A

Agent Information: • Address: 23 Bridgford Road, West Bridgford, Nottingham, NG2 6AU

Full Description: Derby is a major commercial centre within the East Midlands region situated approximately 8 miles west of Junction 25 of the M1 motorway and 40 miles northeast of Birmingham. The city has a resident population of circa 250,000 persons with 2.2 million persons within a 45 minute drive time.Derby traditionally draws upon a stable industrial employment basis having long standing historic connections with the rail industry and Rolls Royce Engineering, one of the city's major employers. Other major employers include Alstom (manufactures of trains), Toyota and Royal Crown Derby which was established in the city many centuries ago. In recent years, Derby University has considerably expanded incorporating Derby College, Derby College of Art & Technology and Lonsdale & Derby College of Higher Education. It is now a major employer and home to some 34,000 students.Chellaston is a popular residential suburban village located on the southern outskirts of Derby located some 2-3 miles south of the city centre. It has a population of just over 15,000 and good access to the Derby southern bypass which forms part of the A50 Uttoxeter Road. The properties are situated on the north of High Street relatively close to Derby Road which connects directly between the southern bypass (A50) and Derby City Centre. The surrounding properties are occupied for a variety of residential uses. The area is particularly popular due to the excellent schools located close by including one towards the rear of the subject property. This property has a main frontage to the high street and the benefit of rear servicing and car parking. This property situated in a densely populated residential area where there is a strong demand for residential accommodation.The property comprises a parade of nine flats located above the retail shops at ground floor level and formingpart of the original development of nine shops with flats above.Access to the flats is via the rear service yard where car parking is provided for the tenants. These are extremely good sized three bedroom flats totaling 70.32m² (757ft²) per unit.All flats are separately metered and have the benefit of mains, water and electricity. Heating is via electric night storage heaters.All flats are let on ASTs in accordance with the attached schedule of accommodation and tenancies.This is a densely populated residential area midway between Derby City Centre and the southern bypass affording easy access to other parts of the country. Like elsewhere throughout the United Kingdom, there is astrong demand for residential properties such as this. As evidenced from our opinion of rental value, the rents are highly reversionary, and we see the potential for the property to be upgraded and for increased rents to be obtained as and when the flats become vacant.At the front of the property there is a pubic transport bus stop.  These sales particulars have been prepared by FHP Living on the instruction of the vendor. Services, equipment and fittings mentioned in these particulars have NOT been tested, and as such, no warranties can be given. Prospective purchasers are advised to make their own enquiries regarding such matters. These sales particulars are produced in good faith and are not intended to form part of a contract. Whilst FHP Living have taken care in obtaining internal measurements, they should only be regarded as approximate.Purchaser information - Under the Protecting Against Money Laundering and the Proceeds of Crime Act 2002, FHP Living require any successful purchasers proceeding with a purchase to provide two forms of identification i.e. passport or photocard driving license and a recent utility bill. This evidence will be required prior to FHP Living instructing solicitors in the purchase or the sale of a property. BrochuresBrochure