Property Description

An excellent freehold investment opportunity to acquire a very imposing former Restaurant and Hotel set well back from the road on a deep plot extending to approximately 0.55 acres. The property sits on a slightly elevated position on a broadly rectangular and level site, offering redevelopment potential, subject to the usual planning consent. The property has a wide, rendered frontage with accommodation arranged over two floors and is in need of full renovation, however does benefit from 48 car parking spaces. Most recently used as a Hotel and Restaurant, we are informed the property comprises twenty bedrooms (mostly en-suite), as well as two restaurants (with potential for around 150 covers combined), two lounges, kitchen, ancillary preparation area (with cold room and staff areas), bar and wcs, office and conference room. The believe the Total Gross Internal Area is approximately 1,200 sqm (12,924 sqft).

Accommodation

The auctioneers have not inspected the property but believe it to comprise: Main two storey property 851.5 sqm (9,166 sq ft) Single storey annex 100.7 sqm (1,083 sq ft) First floor link 60.3 sqm (649 sq ft) Coach house 188.2 sqm (2,026 sq ft) Gross Internal Floor Area 1,200.7 sqm (12,924 sq ft) Total Site Area 0.222 hectares (0.55 acres)

Location

The property is situated on the South-western side of Osmaston Road (A514) close to its junction with Grange Street. Located approximately 1 mile south of Derby City Centre the property benefits from easy access to and from the city centre. The M1 is only 9 miles to the east. Osmaston Road provides a mix of uses including residential, commercial as well as a Community Hospital. The open spaces of Derby Arboretum, the first public park in Britain, is close by.

Planning

The property benefits from the potential for a range of uses given its location and site area. Interested parties should make their enquiries of Derby City Council. Derby.gov.uk/planning

Value Added Tax

We are informed that VAT is not applicable.

Rates:

Derby City Council deem the property beyond Economic Repair.

Note:

The buyers fee on this lot is £2,400 inc VAT

Tenure

Freehold

Location

The property is situated on the South-western side of Osmaston Road (A514) close to its junction with Grange Street. Located approximately 1 mile south of Derby City Centre the property benefits from easy access to and from the city centre. The M1 is only 9 miles to the east. Osmaston Road provides a mix of uses including residential, commercial as well as a Community Hospital. The open spaces of Derby Arboretum, the first public park in Britain, is close by.