Gadsby Nichols - Derby - Ref: 56200

A very attractive period office building with rear car parking, ideally suited for continued use as existing, or alternatively conversion to residential, subject to obtaining the necessary planning consents. Planned over three floors, providing a NIA of 3,957 sq. ft./367.6 sqm., together with useful basement storage of 205 sq. ft./19 sqm., and rear secure car parking for approx. 12 motor vehicles. Available To Let at £40,000 pax, or the vendors would consider a sale of the freehold interest at a guide price of offers in excess of‘ £495,000
Ground Floor Offices, inc. reception and boardroom - 1,708 / 158.6 First Floor Offices - 1,600 /148.6 Second Floor Offices & Storage - 649 / 60.2 TOTAL NIA - 3,957 / 367.6
The property is situated in a prominent position, off Vernon Street, close to the junction with Friar Gate, and lies approx. 0.25-miles west of Derby city centre. 6 Vernon Street is situated within a Conservation Area, and is a popular commercial and residential location. Ease of access is afforded to Uttoxeter Old Road and the A52, which in turn provides connections to Derbys‘ inner and outer ring road systems.
Leasehold / Freehold
PLANNING The property falls within Use Class E(c) as defined by the Town & Country Planning (Use Classes) Order 1987, (Amended) (England) Regulations 2020. The property is Grade II Listed, and falls within a Conservation Area. BUSINESS RATES From online enquiries of the VOA website, we note the property is listed as offices and premises‘ with a rateable value of £28,750.
LEASE TERMS/GUIDE PRICE The premises are available with vacant possession. The lease terms are to be a new full repairing and insuring (FR&I) lease for a terms to be negotiated, at a rent of £40,000 (forty thousand pounds) per annum exclusive (pax). Alternatively, consideration may be given to dispose of the freehold interest, with offers invited in excess of £495,000 (four hundred and ninety-five thousand pounds). VALUE ADDED TAX (VAT) We understand that the property IS elected for VAT, and therefore VAT will be payable on the rent/purchase price.