Summary - 27, Crossley Street DE5 3EE
1 bed 1 bath Commercial Property
Central Ripley investment with immediate rental income and retrofit potential.
- Two let units producing £16,000 pa income (current)
- Headline yield c.10% based on guide price
- Unit 3: 10-year lease from Sep 2024 (£6,000 pa + VAT)
- Unit 4: 25-year lease from Sep 2013 (£10,000 pa + VAT)
- EPC ratings: B and B
- Leasehold sale by auction; binding contracts on fall of hammer
- 10% deposit and 1.2% buyer's fee apply at auction
- Property has basic heating, solid brick walls, likely no insulation
A pair of income-producing leasehold units in a central Ripley location, offered with immediate trading income and a strong headline yield of 10% at the current guide price. Unit 3 is let to a dance studio on a 10-year lease from September 2024 (£6,000 pa plus VAT). Unit 4 is an Indian restaurant on a 25-year lease from September 2013 (£10,000 pa plus VAT). Both have EPC rating B.
The property is sold at auction with binding contracts exchanged at sale. Be aware of standard auction requirements: a 10% deposit (minimum £5,000) and a buyer’s fee of 1.2% (minimum £1,500 inc. VAT). Prospective buyers must review the Legal Pack for any additional special conditions or fees before bidding.
The building is a mid-terrace, mixed-use block (circa 1900–1929) totalling about 732 sq ft across four rooms, with double glazing and portable electric heating assumed in most rooms. Construction is solid brick without assumed cavity insulation; the property will suit investors prepared for routine maintenance and potential retrofit works to improve thermal performance.
This opportunity suits income-focused investors seeking an immediate return from existing tenancies. Significant positives (secure lets, central trading location, fast broadband, excellent mobile signal) sit alongside clear considerations: leasehold tenure, local area deprivation and very high crime statistics, basic heating, and possible retrofit costs. Assess risk and legal documents carefully before auction participation.
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