Auction of former Derbyshire pub where rented flats bring in £47,640 per annum and there is scope for two additional apartments

The property, formerly known as the Royal Hotel, at 1-9 Southgate, Eckington currently attracts annual rents of more than £47,000. There is scope to add two more studio flats (subject to necessary planning permission).

A guide price of £450,000 has been placed on the building which will be offered for sale during a livestreamed auction on Thursday, March 30, 2023.

Accommodation includes two one-bedroomed and one two-bedroomed flats on the ground floor, two one-bedroomed flats and two studio flats on the first floor, and two one-bedroomed flats on the second floor.

The freehold property is subject to the existing assured shorthold tenancies, with rents ranging from £395 to £475 per month, totalling £3,970 per month or £47,640 per year.

Ron Darlington, a consultant director at Bond Wolfe auctioneers, said: “Standing in the centre of the village, the property benefits from a car park to the rear for several vehicles and offers easy access to local shopping, the bus station and leisure centre.”

For more details and to register to bid visit www.bondwolfe.com/property-auctions-west-midlandsor email [email protected] or call 0121 312 1212 or 01902 928 510.

*Please note that the auctioneers have been unable to inspect the property internally and therefore images should not be relied upon.