Summary - Apartment 3, 37-38 Iron Gate DE1 3GA
1 bed 1 bath Apartment
Low‑maintenance investment in Derby’s historic heart with immediate rental income.
Central Cathedral Quarter location, walking distance to amenities
Studio layout with modern kitchenette and integrated appliances
Built-in wardrobe, desk and drawers maximise usable space
Stylish shower room; compact but functional
Tenants in situ on 12‑month agreement; immediate rental income
Long lease (244 years) and very low council tax reduce costs
Very high local crime and very deprived area — affects insurance/let quality
Very slow broadband and electric room heaters may raise running costs
This compact studio apartment sits in Derby’s Cathedral Quarter, a central location popular with professionals and students. The open-plan layout is efficient, with a modern fitted kitchenette, built-in storage, and a neat shower room — designed for low-maintenance city living.
Offered with tenants in situ on a 12-month agreement and a documented rental history, the property is presented as an investment with an advertised c.8% return. The long lease (244 years remaining) and very low council tax reduce holding costs and simplify resale or continued letting.
Buyers should note material location and service factors: the area is classified as very deprived with very high crime rates, which may affect tenant profiles and insurance terms. Broadband speeds are reported as very slow and the property relies on electric room heaters, which can raise energy costs for occupants.
Overall this is a straightforward, low-maintenance rental unit in a prime city-centre position — suitable for investors seeking an immediate income stream, but requiring acceptance of local area challenges and basic electric heating.
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