Mixed-use property in Midlands producing £108,000 rent goes on market for nearly £1.3 million

A substantial Midlands property that hosts two ground floor businesses and 14 flats above that produce rents of £108,000 a year is up for sale for £1,295,000.

We are pleased to market this mixed-use property investment opportunity at Jubilee House on the Nottingham Road in Ripley, Derbyshire. The 14 self-contained apartments on the upper floors include nine one-bedroomed, three two-bedroomed and two studio apartments, and together these bring in £75,000 a year in rents.

On the ground floor, current tenants include United Carpets, which pays £18,000 rent a year for its 4,947 sq ft unit, and the Foundry Gym, which pays £15,000 rent a year for its 3,896 sq ft space. James Mattin, agency managing director, explained that the purchaser’s net initial yield would be 7.87%, based on a sale price of £1,295,000.

Mr Mattin said: “This is a substantial freehold mixed-use investment opportunity in a prominent position, with nearby businesses including HSBC, Lidl, Wetherspoon and Costa Coffee. The property is located in the heart of the town centre, and the nearby Market Place provides ample parking, with weekly open-air markets on Fridays and Saturdays. A new fibreglass roof was installed on Jubilee House in 2023 with the benefit of a 10-year warranty, and the Foundry Gym has carried out a comprehensive refurbishment of its premises.”

Ripley is a popular and busy market town in the heart of the Amber Valley with excellent transport ion links, with both the A38 and A610 close by. Amber Valley Borough Council’s town hall and the headquarters of Derbyshire Constabulary are both located in Ripley.

Any interested parties can contact Mr Mattin on 0121 525 0600, 0121 524 1172 or by email at [email protected].