Commercial property proved popular in SDL Auctions Graham Penny’s April Derby auction at Pride Park Stadium with £5.2m raised in sales.

City Pizza, 71 Wardwick in Derby city centre, a part let, part vacant investment opportunity certainly delivered, selling for £224,000 from a *guide price of £125,000+.

Bidders recognised the potential in the four storey freehold property. The ground floor and basement are currently let on a rental of £15,500 on a 15 year lease expiring in 2026, but the potential for growth is contained upstairs.

The vacant first and second floors are self contained and are ideal for conversion to residential units under permitted development rights, subject to planning permission.

As expected, this popular development project in Derby sold quickly. The development site is located on the corner of Uttoxeter Old Road and Parcel Terrace and is for seven luxury apartments. With a guide price of £110,000+, it sold for £120,000.

And the popularity of potential building plots was once again demonstrated by a site to the rear of 545 Burton Road in Littleover which sold for £68,000 from a guide price of £65,000.

Nick Trow, commercial auctions valuer at SDL Auctions Graham Penny said: “Commercial property is clearly growing in popularity in our East Midlands auctions and we are keen to talk to potential sellers to discuss the options for their particular lot. We’re already inviting entries for our next auction, which we expect to attract some really interesting commercial lots.”

The next SDL Auctions Graham Penny auction in Derby takes place on Thursday 31 May at Pride Park Stadium. Property owners looking to sell can request a free auction appraisal by calling 01332 242880 or emailing [email protected].