Property Details

Ripley is a popular Derbyshire market town situated approximately 12 miles to the North of the City of Derby and 15 miles North West of Nottingham, at the Junction of the A38 and A610 roads.
Vehicular accessibility is good, with the A610 linking with Junction 25 of the M1 Motorway (South) before connecting with Nottingham, and the A38 leading to Junction 28 of the M1 Northbound, and the City of Derby to the South. Ripley has a resident population in the order of 20,000.
The town has a large retail centre focused around Oxford Street, High Street / Market Place, Church Street and Grosvenor Road.
The property is situated on the west side of High Street, close to Oxford Street.
The property comprises a two-storey building constructed of solid brick masonry having a loft conversion all beneath a slate roof. The property has been extended to the rear with a single-storey lean to of solid brick beneath a single pitched felt roof.
The ground floor provides a self-contained retail unit with traditional glazed frontage let to a hairdresser. The ground floor retail unit provides open plan retail sales with WC and kitchen to the rear. The retail shop benefits from laminate floors and walls, plastered ceilings, spotlights and upvc double glazed retail frontage.
The vacant upper floors comprise of self-contained offices/rooms with potential for redevelopment into residential. The first floor has two rooms and a bathroom on the first floor and two further rooms in the loft. The upper floors have carpets, painted plaster walls, pendant lighting and upvc windows.

Externally the property is flush to High Street to the front. A shared alleyway provides a pedestrian access to the access to the self-contained upper floors and to a rear yard. There is a single storey outhouse in the yard suitable for basic storage.
We understand mains water, electricity and drainage services are connected to the property. We have not tested these services interested parties should make their own investigations.
The ground floor is let to two individuals T/A Divas. The lease commenced 1st January 2022 and is for a term of 5 years therefore expiring 1st January 2027. The lease is drawn upon effective full repairing and insuring terms. The current rent reserved is £8,760 per annum exclusive effective at the rent review date 1st January 2024. The lease appears to be contracted outside of the Landlord and Tenant Act 1954. A copy of the lease is available from the sole agents upon request.
The estimated rental value when fully let is £14,760 per annum exclusive.
The upper floors have prior approval for conversion into a two-bedroom flat under permitted development (LSP-PDR/2024/0016). The permission is valid for 3 years from 21st May 2024. A copy of the permission and associated drawings are available from the agent upon request.
According to the Valuation Office Agency website the ground floor has a Ratable Value of £7,000 in the 2023 rating list. We were unable to trace a rating assessment for the upper floors. Interested parties should make their own enquiries with Amber Valley Borough Council.
Guide Price £169,950.
We are advised that VAT is not applicable
The property has an EPC of ‘D‘ valid until May 2031. A copy is available from the agent upon request.
In accordance with Anti-Money Laundering Regulations, two forms of ID and confirmation of the source of funding will be required from the successful purchaser.