A mixed-use property investment opportunity in a Derbyshire town 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 4,947sq ft and is let to United Carpets (Property) until March 2026 at £18,000 per annum, while the 3,896sq 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.”