Summary - Friar Gate, Derby DE1 1NU
2 bed 2 bath Apartment
Turnkey investment with strong rental return and parking included.
- Two double bedrooms; master includes en suite
- Bright open-plan living with large windows
- One allocated off-street parking space
- Secure fob entry and lift access
- 7.45% gross rental yield; monthly rent £900
- Leasehold: 241 years remaining; low ground rent
- Service charge approx £1,518.15pa; additional building insurance
- Electric storage heating; medium flood risk and very high crime
This spacious two-bedroom, two-bath apartment in Norman House is presented as a turnkey investment with a strong gross rental yield of 7.45% (quoted monthly rent £900). The bright open-plan living, dining and contemporary fitted kitchen suit long-term tenants and city professionals; the master bedroom includes a private en suite for added tenant appeal.
Practical features include secure fob entry, lift access and one allocated off-street parking space — a notable asset in the city centre. The long lease (241 years remaining) and modest ground rent support resale or portfolio growth, though there is an annual service charge to factor into returns.
Buyers should weigh operating costs and local risks: service charge approx. £1,518.15pa, building insurance approx. £272.21pa, and ground rent approx. £108.44pa. Heating is via electric storage heaters and mains electricity, which can increase running costs compared with gas. The property sits in a very deprived area with very high recorded crime and a medium flooding risk, factors that may affect tenant demand and insurance premiums.
Overall, this apartment suits investors seeking immediate income from a modern, centrally located flat with long lease security. Owner-occupiers who prioritise low-maintenance city living will appreciate the turnkey condition, but should accept higher running costs and the neighbourhood’s safety and deprivation context.
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