Property Description

A freehold former Police Station located along Derby Road benefitting from full planning consent for a high specification residential development on the prestigious Park location, close to the City Centre. ***6-8 Week Completion*** A two storey former Police station located along Derby Road (The Park), benefitting from full planning permission (20/00731/PFUL3) for the creation of eight luxury residential units, within walking of the distance of The Park and City Centre. The planning proposes a stunning four storey development comprising of a mixed range of 1, 2 and 3 bedroom apartments, some with large terraces on the third and fourth floors and benefiting from stunning views over The Park with seven car parking spaces beneath. We feel a scheme of 9 units may be achievable subject to additional planning consent. A scheme of this size in our opinion would have a GDV of circa £3,000,000 subject to a high specification on completion of the development. Careful consideration to the aesthetic appearance of the development has been taking into account to ensure the scheme sits well within the local area. The property also benefits from having a current tenant partly occupying the premises over the ground and first floors. The basement is retained by the landlord. The tenant in occupation currently pays £15,000pa on a 3 month notice period, on a licence agreement without protection under the 1954 Landlord and Tenants Act. We have been informed that the draft lease agreement contained in the legal pack is to be entered into shortly. Interested parties are to see the legal pack for further information and are to rely on their own investigations in this respect.

Tenure

Freehold

---