STUART HOUSE, GREEN LANE, DERBY, DERBYSHIRE
, DE1 1RS
, england Price: Buy: POA
Size: 16000 sq ft1486 sqm Primary Category: Investment All Categories:
Investment, Office, Property Ref/Movehut: MH568030 Property Ref/Agent: STUART HOUSE - FOR SALE
*Please use the agent ref when calling the agent directly.
Property Date Information
Last Updated: September 17, 2018
Raybould & Sons are pleased to give advance notice of the proposed sale:
Approximately 16,000 sq ft of modern offices – Gross Internal Area
(excluding the two staircases, hall and landings and the lift shaft on four floors), together with a small car park to the rear for approximately 6 cars.
Town Planning: Planning approval for office use. However, with the possibility of residential conversion to apartments, subject to the granting of the necessary planning approval.
Tenure: Freehold – subject to a short term tenancy of part of the ground and first floor only, subject to landlord break options.
Details of the above current lease and rental income are available from the sole agents, Raybould & Sons.
Property Management: The building is managed by property agents, Lambert Smith Hampton in respect of internal and exterior maintenance, lift servicing, facilities management and cleaning of common parts.
Background: Stuart House, a modern office building of four storeys in height, was constructed in 1991 by Michael Goodall Homes and has been held by the present owners as an investment property since 20....... At the time of the acquisition, the ground floor shop was let to William Hill Ltd and has subsequently been let short term to Acorn Training Services , but will be vacant from August 2017.
The offices which form part of the ground floor and first, second and third floors, were originally let by way of a lease to Santander Bank. Since 2016 the offices have been available on short term leases on a floor-by-floor basis.
Currently the second floor and third floor are vacant.
The offices to the rear of the ground floor and first floor are currently leased, but on a short term basis with a landlord only break option.
Therefore an opportunity exists to acquire the building and obtain vacant possession for development by way of conversion to an alternative use, subject to planning, or to re-let the building on flexible lease terms on long term leases.
Location: Green Lane is situated in the centre of Derby, directly off Victoria Street. Vehicular access is directly off the new Inner Ring Road.
To access, take the Babington Lane turn, off the Inner Ring Road, which, via Gower Street, leads into Green Lane.
To exit – Green Lane leads directly onto the Inner Ring Road.
Derby is well-located for the motorway system. The dual carriageway (A52) leads directly to, and is only six miles from, J25 of the M1 Motorway. To the East, and to the North and South, the dual carriageway of the A38 gives access to Birmingham and the M1 North (J28) and the A50 dual carriageway, which leads to the M42 and the M6 Motorways.
Derby Midland Railway Station provides travel to London within 90 minutes, and is within a 15 minute walk.
Public Transport: Victoria Street, adjoining Green Lane, is a major bus stop hub for many of Derby’s suburbs. Also, the new principal bus station in the Morledge is within a 5 minute walk.
Description of Accommodation:
Ground floor double-fronted former retail unit (most recently
occupied by Acorn Training Services as a training centre): 176.34 sq m
Ground Floor Rear Offices – accessed off main office entrance: 197.97 sq m
First Floor Offices 374.73 sq m
Second Floor Offices 371.25 sq m
Third Floor Offices 363.21 sq m
Total: 1,483.45 sq m
(or: 15,967 sq ft)
All floor areas are Gross Internal, including toilet accommodation on each floor but excluding the two staircases, the landings and lift shafts.
Externally, a vehicular right of way to the side of the property leads to a private car park to the rear, which provides parking space for approximately six cars.
Features & Specification: Built to a high specification in 1991. Each floor has the benefit of good toilet accommodation.
Lift to all floors: The lift was refurbished in 2016 and is under warranty
Air-conditioning and gas-fired heating
Fitted kitchens to all floors
Five views over the City
Car parking for say 6 cars
All mains services
Floor Plans: Architects floor plans are available from Raybould & Sons.
Sale Price: ?????????
VAT: The price on the sale of the property will be subject to VAT at the standard rate.
Redevelopment in Victoria Street, Green Lane: Derby City Council have recently acquired the former Debenhams store on the corner of Green Lane and Victoria Street. , together. The other properties included in this transaction are numbers 22,24,36, 46 and 48 Green Lane, and 12 Macklin Street.
Derby City Council already own the site adjoining the old Debenhams store, namely Duckworth Square.
It is the Council’s intention, with funding from D2N2, to bring forward the redevelopment of these two important sites.
These two sites are well located between the highly successful Cathedral Quarter of Derby and the INTU shopping Centre, and this area will be a focal point for enterprise in the city centre.
Historic England: Grant Aid is available for the restoration of various Victorian commercial premises in Green Lane.
City Centre Living: Derby City Council have ‘loan funding’ to assist residential redevelopment in the city centre, subject to application and availability.
Energy Performance Certificates: Energy Performance Certificates for individual floors will be made available upon request.
Rateable Value: Currently on a floor by floor basis. Please contact Raybould & Sons for full details.
Legal Matters: Both parties to pay their own legal costs.
EPC for STUART HOUSE, GREEN LANE, DERBY, DERBYSHIRE
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