Retail premises for sale in St. James Street, Derby DE1

Investment Consideration:
Gross Initial Yield: 8.94%
Rental Income: £21,000 p.a.
VAT is not applicable to this property
Comprises ground floor shop with ancillary at basement
Situated on the north side of the pedestrianised St James' Street, between Corn Market and Victoria Street, in the heart of the City Centre.

Property Description:
Comprises mid-terrace ground floor shop t/a Estate Agents with ancillary accommodation at basement, providing the following accommodation and dimensions:
Ground Floor: 49.33 sq m (532 sq ft)
Open plan retail, storage
Basement: 38.74 sq m (417 sq ft)
Ancillary
Total area size: 88.07 sq m (948 sq ft)

Tenancy:
The property is at present let to Northwood (Derbyshire) Limited* for a term of 15 years from 25th March 2011 at a current rent of £21,000 p.a. And the lease contains full repairing and insuring covenants.
* Northwood Estate Agents are a leading nationwide Estate Agent that were established in 1995 and now trade from over 80 offices across the UK ()

Location:
The property is prominently situated on the north side of the pedestrianised St James' Street, between Corn Market and Victoria Street, in the heart of the City Centre. The property is located close to other Estate Agents and office providers and within close proximity to Derbion Shopping Centre, which has retailers including Marks & Spencer, Zara, Mango, Flannels, River Island, H&M, Zizzi, Wagamama, Five Guys, Nando's and Showcase Cinema.