Frank-Steier Price Ltd. Leading niche commercial property investment practice Logo for Midlands Property Awards 09

October 2019

Activity Centre and Car Park Investment – Copeland Street, Derby, DE1 2QD

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The property is located in Derby city centre adjacent to the Intu Shopping Centre and within walking distance of both Derby Railway Station and the Cathedral Quarter.  It is also located adjacent to the Castleward Regeneration Area.  The property comprises a 14,092 sq.ft leisure unit and a 1,494 sq.ft industrial unit let to Time 2 Play on two new leases expiring 30 June 2034.  There is also a 15 space car park let to Excel Parking Services Ltd on a lease expiring 18 September 2023 (subject to landlord rolling break options).  WAULT of 13.9 years with a total income of £155,500 per annum.  Time 2 Play Ltd has recently completed an extensive £350,000 fit-out of the leisure unit as an indoor inflatable theme park.  Offers sought in excess of £1,500,000 which reflects an attractive net initial yield of 9.80%.