Summary - 2 NORTH PARADE DERBY DE1 3AY
1 bed 1 bath Guest House
High-yield multi-let block with conversion potential close to transport and university.
- Freehold Grade II listed Georgian terrace with period character
- Seven self-contained studio flats, each with private kitchen and bathroom
- Current total rent approx. £4,200pcm (£50,400pa) — gross ROI ~9.2%
- Potential to reconfigure, combine units or pursue separate titles (consents needed)
- Off-street parking and small rear garden/yard to the property
- Building and interiors are modest; cosmetic refurbishment recommended
- Listed status restricts alterations and may complicate conversions
- High local crime rate and area deprivation may affect tenant mix
A rare freehold block of seven self-contained studio flats in Derby city centre offering strong rental income and clear value‑add potential. The Grade II listed Georgian terrace retains period character and presents well to the street, while each studio already includes its own kitchen and bathroom for straightforward multi‑let management.
This is primarily an investor/developer opportunity: current gross income is strong for the guide price (approx. 9.2% ROI), with scope to refurbish to higher-spec rentals, reconfigure units into larger one- or two-bedroom flats, or pursue separate titles subject to consents. The location is highly convenient — close to Derby Railway Station, the university and central amenities — ensuring continued tenant demand, particularly from students and city workers.
Buyers should note material constraints: the building is Grade II listed, which will restrict alterations and may complicate conversions or title splits. The area scores high for crime and is classified as deprived, which could affect letting profiles and resale. Interiors are modest in size and would benefit from cosmetic updating and potential maintenance works. Off-street parking and small rear outside spaces are positives, but the overall plot is compact and urban rather than spacious.
Overall this property suits investors or developers seeking an income-producing asset with clear refurbishment and redevelopment upside, provided they are prepared to manage listed‑building consents and the local market dynamics.
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