The property is situated on Abbey Street on the out skirts of Derby City Centre, with access to the city within 15 minutes on foot. There are an array of local amenities, schooling, transport links and bus routes in the vicinity.
The new Derby University Law & Criminology Department is only 0.7 miles north east of the property. It is close to major Derby employers such as Rolls Royce, Bombardier, Royal Derby Hospital and London Road Community Hospital all with transient workforce. Royal Derby Hospital, is one of two teaching hospitals in the city of Derby, the other being the London Road Community Hospital. Derby train station is situated 2 miles to the east and is ideal for professionals commuting to the City Centre.
This two storey end terrace property has been renovated to an excellent standard and is a ready made investment. It is available with vacant possession.
Internal accommodation briefly comprises of kitchen, living room, shower room, en-suite, WC and five lettable bedrooms.
The ground floor comprises of a new modern fitted kitchen with high gloss white base and eye level units with complimentary wood effect laminate tops and tiling to splashback areas. Living room with uPVC french doors leading to the rear patio area and two bedrooms one having en-suite shower room housing free standing shower cubicle, low flush WC and wash hand basin.
The first floor landing provides access to modern family shower room comprising of free standing shower cubicle, low flush WC and wash hand basin. Separate WC and three further bedrooms all having wood effect laminate flooring. One having a built in shower cubicle.
Externally there is a patio area to the rear, that can be accessed through the living room ideal for outdoor entertaining. Parking is available on adjacent streets.
GF 49.12m2 528ft2
FF 35.19m2 378ft2
Total 84.31m2 907ft2
Approx. gross internal floor area
Kitchen: 2.87m x 2.23m (max.)
Living Room: 5.2m x 2.78m (max.)
Shower Room: 2.23m x 2.80m (max.)
WC: 0.71m x 1.47m
Bedroom 1: 4.00m x 3.34m (max.)
Bedroom 2: 2.85m x 3.09m (max.)
Bedroom 3: 3.37m x 2.75m
Bedroom 4: 2.36m x 3.33m
Bedroom 5: 3.37m x 2.28m (max.)
We understand the property has mains gas, electricity, water and drainage.
This fully renovated property is ready to rent out. We believe the property would let on a room by room basis for between £65 – £90 per room per week. See below rental schedule. This would provide for a gross annual income of £20,540 pa. Representing a gross yield of 18.67% and a net yield of 14.94% allowing for 20% management and void periods.
Bed 1 (GF) £90 pw £4680 pa
Bed 2 (GF) £65 pw £3380 pa
Bed 3 (FF) £80 pw £4160 pa
Bed 4 (FF) £75 pw £3900 pa
Bed 5 (FF) £85 pw £4420 pa
Total £20,540 pa
Furthermore, the income could potentially be increased to £95 per week per room (inc. bills) if let to students, totalling £24,700 pa. The new Derby University Law & Criminology Department is only 0.7 miles from the property.
The current owner has spent signifcant money on the property to create a fantastic Buy to Let investment. Works include: plastered & painted walls; new bathroom; new kitchen; new heating system; part new electrics; insulated walls and roof; new uPVC double glazed windows; new fire doors and smoke alarms. The finishing touches are currently being made to the property and will be completed by the time the auction commences.
To view this property, please contact John Pye Property – email@example.com – 0115 970 6060
271 Abbey Street
✓ Five lettable rooms – ready to rent out
✓ Ideal for letting on a room by room basis (£65 to £90 per week)
✓ Potential £20,540 per annum
✓ Possible gross potential yield of 18.67%
✓ Income increased if rented to students – £24,700 pa (22% yield)
✓ Popular location
✓ Close to Derby City Centre
✓ Close to Derby University
Phone: 0115 970 6060
Our Ref: PR105