Summary - 24-25 Cornmarket, Derby, Derbyshire, DE1 2DP DE1 2DP
1 bed 1 bath Retail Property (high street)
**Standout Features:**
- Prominent retail corner building in Derby city centre
- Total area of approximately 675.90 sq m (7,274 sq ft) with substantial further vacant accommodation
- Change of use potential for upper floors (subject to consents) for residential or student accommodation
- Freehold property with existing rental income of £48,000 per annum from ground floor shops
- Nearby major retailers including Primark, Tesco, and more, enhancing foot traffic and visibility
- High ceilings and ornate Victorian architectural details provide character and charm
**Concerns:**
- Potential for planning hurdles for conversion to residential or alternative uses
- High crime rate in the surrounding area
- Need for future maintenance and potential renovations to suit new use
**Summary:**
Seize the opportunity to acquire this expansive freehold retail property located in the bustling heart of Derby city centre, perfectly positioned at the intersection of Cornmarket and Albert Street. With a generous total area of around 675.90 sq m (7,274 sq ft), this prominent corner building not only offers substantial existing rental income but also boasts significant potential for redevelopment. The upper floors could be converted into desirable residential or serviced accommodations, making it an attractive investment for families or investors looking for rental returns in an area with a large student population.
Despite the incredible potential, it's essential to consider the current structural condition and the potential complexities of obtaining necessary planning consents for any future renovations. The property is surrounded by a thriving commercial environment and boasts excellent local amenities, making it an exciting prospect for those looking to make their mark in a rapidly developing neighborhood. Don't miss the chance to capitalize on this unique investment opportunity before it's gone!
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