Apartment 58, 9 Hazel Court, Drage Street, DERBY, Derbyshire, DE1 3RW

Description

Long leasehold first floor purpose built selfcontained flat requiring modernisation Investment Location: The property is situated on Drage Street in the popular Chester Green area of Derby. Public transport links include Derby Railway Station together with a network of local bus services serving the surrounding vicinity. Road links include the A38 and A52. Shopping amenities can be found locally within Derby City Centre, with an extensive range of shops, bars and restaurants being found throughout the city centre. Recreational pursuits can be found locally at the open spaces of Darley Park and the River Derwent. Accommodation: Two bedrooms Outside: Allocated parking EPC rating: B Council Tax Band: B Tenancy: The property is let on a tenancy agreement (AST) at a rent of £710 per calendar month. Rent reserved: £8,520 per annum Lease: Held on a long lease for a term of 300 years from 1st June 2005 (Thus having approximately 279 years remaining) To view: Strictly by arrangement with the au

Location

The property is situated on Drage Street in the popular Chester Green area of Derby. Public transport links include Derby Railway Station together with a network of local bus services serving the surrounding vicinity. Road links include the A38 and A52. Shopping amenities can be found locally within Derby City Centre, with an extensive range of shops, bars and restaurants being found throughout the city centre. Recreational pursuits can be found locally at the open spaces of Darley Park and the River Derwent. Accommodation: Two bedrooms Outside: Allocated parking

Investment Analysis

Investment Snapshot

Property & Refurbishment

Initial feasibility allowance: £15,000–£25,000. This is not a contractor quotation and should be confirmed following inspection and detailed scope.

Rental Analysis

The auctioneer-published rent identified in the source is approximately £8,520 per annum.

GDV / Resale Analysis

No independent RICS/Land Registry comparable valuation has been inserted solely from the scraped auction data. End value should be confirmed against recent genuinely comparable transactions before bidding.

Properties Sold Within Approx. 5 Miles

No independently verified sold comparables are inserted from the auction scrape alone. Confirm recent Land Registry/RICS comparable evidence before relying on a GDV.

Investor Risks & Due Diligence

• Review the full legal pack and title before bidding

• Confirm all auction administration / contract charges

• Verify property condition and obtain appropriate surveys

• Confirm refurbishment costs with contractor quotations

• Confirm lease length, ground rent, service charge and major works

Recommendation

Preferred strategy: BRRR / Buy-to-Let. This recommendation is an initial appraisal based on the auctioneer's published property information and should be tested against the legal pack, inspection, finance and local market evidence.

Strategy Rating

BRRR: ★★★★☆

Buy-to-Let: ★★★★☆

Flip: ★★★☆☆