Summary - 40, Magellan Way, DERBY DE24 1AD
2 bed 2 bath Apartment
Ready-made rental with long lease and allocated parking for investor convenience.
Buy-to-let with tenants in situ and immediate rental income
This ground-floor, two-bedroom apartment in Magellan Way offers a ready-made buy-to-let opportunity with tenants in situ and strong rental demand. The property produces a gross yield of 9.0% and a net yield of 7.1% at the asking price, supported by an advertised £795pcm rent and low maintenance modern finishes including double glazing and a fitted kitchen. The long lease (138 years remaining) and allocated parking add practical value for tenants.
Accommodation includes two double bedrooms (one with en-suite), a spacious lounge with French doors, and a main bathroom. Heating is electric and the building is secure with entry system; communal areas are described as well kept. Annual outgoings include a service charge of £1,908.52 and a ground rent of £165, which should be factored into net returns.
Important location and risk factors: the property sits close to Derby city centre, Pride Park, and key road links, making it attractive to professionals. However, the local area scores high for crime and is classed as very deprived — factors that can affect tenant profiles, management needs and resale. Broadband and mobile signal are strong, which supports modern tenant expectations.
This is a straightforward, low-maintenance investment for a landlord seeking immediate income. Being sold with tenants in place and with full lettings/property management options available, the purchase can be hands-off if preferred. Prospective buyers should review tenancy terms, confirm service charge arrangements, and factor local-area considerations into longer-term exit plans.
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