Summary - 298 Osmaston Park Road, Derby, Derbyshire, DE24 DE24 8DA
3 bed 1 bath Detached
Three self-contained flats with development upside and immediate income potential.
Freehold investment, sold at auction, immediate completion possible
A rare freehold investment offered at auction, this post‑war property is arranged as three self‑contained one‑bed flats, two of which are currently let, providing immediate rental income. The building sits on a large corner plot with shared off‑street parking and a raised rear yard, giving strong potential for amenity space or reconfiguration.
The site offers development upside: the vendor notes scope, subject to planning, to increase capacity to seven to nine one‑bed units. For a buyer prepared to manage planning and conversion work, this presents a route to materially increase rental yield and long‑term capital value. The flats are served by separate kitchens and bathrooms and benefit from good local transport links and proximity to shops and local services.
Important considerations are that the property requires refurbishment and modernization throughout; fixtures, finishes and some appliances are dated and will need replacing. Two flats are occupied (some tenants on rolling notices), so purchasers should factor tenant status into short‑term plans. The area is classed as very deprived with a high local crime rate, which may affect tenant mix and rental levels but also supports steady rental demand in this location.
This lot will suit experienced investors or developers looking for an immediately income‑producing asset with clear scope for enlargement and value‑add through refurbishment and reconfiguration. Sale at auction means a prompt, unconditional purchase process; assess finance and survey matters in advance.
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