Mixed-use property hits the market for over £1m

A Midlands property with two ground-floor businesses and 14 flats is up for sale for over £1m.

Bond Wolfe is marketing the mixed-use property at Jubilee House on Nottingham Road in Ripley, Derbyshire at £1,295,000.

The upper floors have 14 self-contained apartments, nine one-bedroom, three two-bedroom, and two studios, earning £75,000 a year in rent.

On the ground floor, United Carpets pays £18,000 annually for a 4,947 sq ft unit, and the Foundry Gym pays £15,000 annually for a 3,896 sq ft space.

James Mattin of Bond Wolfe 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.”