Summary - 40 LEOPOLD STREET DERBY DE1 2HF
2 bed 1 bath Block of Apartments
Two flats, parking and garage — strong current income with scope to increase.
Freehold block on a large corner plot with development potential
Total current income £29,040 per annum from flats, parking and garage
Two let flats: 1F flat £925pcm, GF flat £875pcm (both tenanted)
Nine parking spaces let to NCP on rolling lease (£420pcm)
Double garage vacant; achievable rent approx £200pcm
EPC rating E; pre-2002 double glazing and assumed uninsulated walls
Located in very deprived area with very high crime — factor in security
Sold at auction: 10% deposit plus buyers’ fee and legal pack checks required
This freehold block on a large corner plot in Derby offers a strong existing income and clear upside for an investor. Two flats are currently let, with nine parking spaces producing contracted income and a vacant double garage that could be re-let for additional rent. Total current income is £29,040 pa, with scope to increase rents and better utilise the vacant garage.
The building dates from the early 20th century and retains period character including a bay-windowed ground-floor apartment and high ceilings. Construction is solid brick with double glazing installed before 2002; the EPC is rated E and the walls are assumed uninsulated, so buyers should budget for energy-efficiency work and potential modernisation. Internal layouts provide average-sized rooms across approximately 659 sq ft total.
Material considerations are straightforward and important: the property sits in a very deprived neighbourhood with very high recorded crime, which may limit tenant profiles and resale premiums. The auction sale is unconditional at exchange, so purchasers must be prepared for a 10% deposit (minimum £5,000) plus a buyers’ fee (1.2%, minimum £1,500 inc. VAT) and review the Legal Pack for any additional costs.
This is a tactical buy for cash-ready investors or landlord-operators seeking immediate yield from let units and parking income, with practical refurbishment potential to improve EPC, reduce running costs and raise rents. Proximity to the city centre, train station and commuter routes supports demand, but budgeting for retrofit and security measures is essential.
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