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Land for sale
Mount Street, Derby, Derbyshire, DE1
£500,000
Mount Street, Derby, Derbyshire, DE1
£500,000
Our Summary
- ** ATTENTION DEVELOPERS / INVESTORS / BUILDERS ** AUCTION IS NOW LIVE **
- A fantastic development opportunity in Derby's City Centre to be sold by Modern Method of Auction
- There was FULL PLANNING CONSENT (REF: 03/14/00427) granted in 2016 for the construction of 3-Storey mixed residential and commercial unit with parking space for 10 cars
- FULL PLANNING PERMISSION IN PLACE
- The approved plans are available online at the Derby Planning Portal (REF 24/00914/FUL)
- This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period")
- FULL PLANNING PERMISSION GRANTED MAY 2025
- Investment / Development Opportunity
- Modern Method of Auction - NOW LIVE
Description
A rare development opportunity in Derby's city center is now up for auction. The site, which spans approximately 0.2 acres, has full planning consent for a 3-storey mixed-use building with retail and residential units. The approved plans allow for a commercial unit on the ground floor, with 2 one-bedroom flats and 10 studio apartments on the first and second floors. The commercial unit is approximately 251m2 and has designated parking and storage. The estimated Gross Developmental Value is around £2.4-2.5 million, with substantial rental yields expected from the completed units. The retail unit could fetch £300-400k, while the 1-bedroom flats and studio apartments could be sold for £100-140k and £600-650k, respectively. The combined annual rental income is estimated to be around £175k. With full planning permission in place, this is a fantastic opportunity for developers and investors to capitalize on the prime location near the city center, university, and transport links.