105-107 Nottingham Road, Alfreton, Derbyshire DE55 7GR

Description

A freehold commercial / trade counter / workshop premises of approximately 2,572 sq ft (239 sq m), prominently located on Nottingham Road adjacent to the Co-op petrol station on the outskirts of Alfreton town centre. The premises is vacant and could be suitable for a variety of different uses, subject to planning permission. Originally a pair of residential dwellings, the current commercial accommodation comprises a largely open plan ground floor sales area with trade counter, ancillary rear stores / workshop room and a large adjoining workshop measuring approximately 1,356 sq ft (126 sq m) with roller shutter providing vehicle access direct from Nottingham Road. The first floor currently provides further ancillary storage, office, kitchen and W.C.s and could lend itself to conversion to a residential first floor flat. Outside there is an enclosed rear yard. Potential uses include full commercial premises, mixed use with ground floor commercial and first floor residential, or conversion back to full residential, all subject to planning permission / consents.

Accommodation

Ground Floor - 1,778 sq ft (165.2 sq m): Entrance Lobby; Open Plan Sales / Retail / Trade Counter; Rear Workshop Room; Adjoining Workshop With Vehicular Access (approximately 1,356 sq ft / 126 sq m). First Floor - 794 sq ft (73.8 sq m): Open Plan Retail Space; Office; Kitchen; W.C.s / Lobby; Room. Outside: Enclosed Rear Yard.

Location

Prominently located on Nottingham Road, adjacent to the Co-op petrol station, on the outskirts of Alfreton town centre.

Tenure / Property Information

Investment Analysis

The property is a vacant freehold commercial trade counter/workshop of approximately 2,572 sq ft. No sufficiently comparable commercial sold evidence or rental evidence has been supplied. The listed sold comparables are older residential transactions on the same road and are not reliable evidence of this property's commercial or conversion value. The £140,000 guide is therefore not independently supported as market value. Any residential or mixed-use value depends on planning permission and consents, which have not been evidenced.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Consider only after reviewing the legal pack, confirming permitted use and planning prospects, obtaining a commercial valuation and establishing realistic works and rental or resale figures.

Works Required

No specific physical defects or condition issues are evidenced, so no refurbishment allowance can be supported. Potential works could include reconfiguration for continued commercial use, mixed-use conversion or residential conversion, but these would require appropriate planning permission and consents. The legal pack should confirm permitted use and any required works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not currently underwritable. There is no supported residential GDV, rent, refurbishment budget or evidence that conversion to a flat or full residential use would receive planning permission. A refinance figure and cash-left-in calculation would therefore be speculative.

Buy-to-Let Analysis

A BTL assessment cannot be established because no sufficiently specific rental comparable, auctioneer rent estimate or residential GDV has been supplied. The property is currently vacant and its residential suitability is only described as potential, subject to planning and consents. The 2.34% buyer premium would be £3,276 on the £140,000 guide, before any other costs, but total project cost cannot be calculated without supported works and other legal-pack costs.

Flip Analysis

A flip surplus cannot be calculated because no supported GDV, refurbishment allowance, resale costs or planning outcome is available. The potential to convert the first floor or the whole property is expressly subject to planning permission and consents.

Investor Risks & Due Diligence

• Planning permission and other consents may be required for mixed-use or residential conversion.

• The property is vacant, with no passing income evidenced.

• No sufficiently specific commercial or residential rental evidence has been supplied.

• The available sold comparables are historic residential transactions and are not directly comparable to the subject commercial premises.

• Physical condition, EPC, heating and other operational details are not supplied.

• Additional fees may be listed in the Special Conditions of Sale and are currently unknown.

Recommendation

Do not bid on the current evidence alone. Consider only after reviewing the legal pack, confirming permitted use and planning prospects, obtaining a commercial valuation and establishing realistic works and rental or resale figures.

Strategy Rating

Analysis Confidence

The description and guide price are available, but there is no commercial comparable evidence, rental evidence, EPC, condition survey, planning confirmation, refurbishment budget or complete fee schedule.