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Normanton Road, Derby DE23 6WD
Freehold Betting Office & Restaurant Investment
Offered for Sale by Property Options Estate Agents
Property Options Estate Agents are pleased to present this substantial freehold commercial investment located on the ever busy Normanton Road, one of Derby’s most established and high footfall trading parades. This is a rare opportunity to acquire a high yielding, income producing asset in a thriving commercial district.
Derby is a major East Midlands city with a population of approx. 223,000, positioned just 8 miles from the M1 (J24/25) and 11 miles from East Midlands Airport, offering excellent regional connectivity.
Location
The property occupies a prominent position on the west side of Normanton Road (A5250), a heavily trafficked route running south from Derby city centre. The surrounding area is a vibrant mix of independent retailers, restaurants and service businesses, ensuring strong footfall and consistent tenant demand.
Property Description
The accommodation is arranged over ground and first floors, with a large rear yard, and comprises:
Ground floor lock up betting office – currently trading as Paddy Power
Restaurant unit – occupying part of the ground floor and the entire first floor
Flexible commercial layout with established tenants in situ
Asset management opportunity to re-let or renew lease with Oodles Wok (interest already expressed at £38,000 p.a.)
Tenancy & Income
The property is fully let, producing a total income of £62,000 per annum.
Unit 274–276 & First Floor (274–280)
Tenant: Mohamed Fazeel Firoz Sheikh (trading as Oodles Wok) Lease: 6 years from 1 January 2021 Rent: £34,000 per annum Repair: Full repairing & insuring via service charge Notes: £6,000 rent deposit held. Lease outside the L&T Act 1954.
Unit 278–280 (Paddy Power)
Tenant: Power Leisure Bookmakers Ltd (guaranteed by Paddy Power plc) Lease: 15 years from 1 May 2014 Rent: £28,000 per annum Rent Review: Every 5th year Break Clause: Tenant option with 6‑month rent penalty Repair: Full repairing & insuring via service charge
Additional Information
VAT: Not applicable
EPC: Available on request
Investment Highlights
Attractive freehold commercial investment
Two established tenants, including a national covenant (Paddy Power)
No VAT – ideal for private investors and SIPP'S
Medium term lease security with expirie's in 2026 and 2029
Strong trading location with consistent footfall
Asset management opportunity with Oodles Wok lease expiry approaching
Yield & Investment Summary
Guide Price: £745,000 Current Income: £62,000 p.a. ERV: £70,000 p.a.
At the asking price, the property delivers a 9.13% net initial yield, significantly above typical yields for:
National bookmakers
Mixed use retail/restaurant investments
Derby city assets
This represents an exceptionally strong return for a freehold investment with national covenant strength and medium term income security.
Summary for Buyers
This is a rare opportunity to acquire a high yielding, low maintenance freehold investment in the heart of the famous Normanton Road. With secure tenants, strong footfall, no VAT, and clear asset management potential, this property offers both immediate income and future growth potential.
For enquiries or to arrange a viewing, contact Property Options Estate Agents.
