Derby mixed-use building bought by investor

William Speed outside 68-69 Friar Gate, Derby

A three-storey building at one of Derby’s key gateway intersections has been sold.

The property, 68-69 Friar Gate, which is at the Uttoxeter Old Road/Ashbourne Road crossroads, has been bought by a local investor.

The mixed-use investment property consists of two ground floor retail units, with two student-let apartments at first and second floor level.

William Speed of Salloway Property Consultants, who negotiated the deal on behalf of a private client, said: “We are seeing fewer investments coming up for sale in what can probably be described currently as a bull market so it was no surprise to see so much interest in such a prominent building with good reversionary leases in place. The appeal of property as an investment asset class appears to be stronger than ever and in my experience demand for investments in Derby is coming from far and wide.”

Kushi Bachada, director of RSB Holdings, who bought the property said, “I have had my eye out for any attractive investments over the past year and as soon as this property hit the market I was immediately interested. It was a rare opportunity to acquire a mixed-use investment that included two retail units both let on reversionary leases. Will at Salloway Property Consultants dealt with everything very professionally from start to finish.”

Speed added: “With investor demand currently remarkably high, we really encourage anyone thinking of selling their property to come forwards and speak to us. The market is incredibly strong and we have a long list of buyers keen to invest in all types of property, especially income producing investments.”

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