Mill Street
Derby
guide price
£2,000,000
Tenure: Freehold
Ref: DBY121960
- Auction date: tuesday 23rd june 2026
- 23 self-contained apartments across two blocks
- Gross income of £221,460 for the 2025/26 academic year
- Established, income-producing residential investment
- Strong tenant demand with consistent occupancy levels
- Potential for rental growth and asset management upside
- Auction date: tuesday 23rd june 2026 read more show less
monthly mortgage estimate
AUCTION DATE: TUESDAY 23rd JUNE 2026
A substantial 23-unit investment across two well-maintained blocks, generating a gross income of £221,460 (25/26). Offering strong rental demand and future potential, this is a ready-made, income-producing asset with multiple years of successful full-occupation.
A substantial 23-unit investment across two well-maintained blocks, generating a gross income of £221,460 (25/26). Offering strong rental demand and future potential, this is a ready-made, income-producing asset with multiple years of successful full-occupation.
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Council Tax Band: A
Tenure: Freehold
in detail
AUCTION DATE: TUESDAY 23rd JUNE 2026
This attractive residential investment comprises 23 self-contained apartments across two purpose-built blocks, forming a well-managed and cohesive scheme. The property delivers a strong gross income of £221,460 for the 2025/26 academic year, reflecting consistent demand and a proven lettings record.
The development, a high-quality conversion of a former school and youth centre, sits behind secure electric gates and includes limited on-site parking for residents and visitors. A low-maintenance courtyard garden provides access to external storage.
The accommodation offers a varied mix of unit types, primarily well-designed studios, alongside some with separate kitchens and duplex layouts, appealing to a broad tenant base and supporting high occupancy. Both blocks are efficiently configured, with separately rated units, individual electricity meters, and consumer units, enhancing management and cost control.
This is an ideal opportunity for investors seeking a fully operational, income-producing asset with immediate cash flow. Further growth potential is supported by Derby’s expanding student and rental market.
Conveniently located within walking distance of the city centre, University of Derby campuses, and excellent local amenities and transport links, this is a rare opportunity to acquire a substantial multi-unit investment with secure income and long-term capital growth prospects.
BIDDER REGISTRATION: BY 2pm MONDAY 22nd JUNE 2026
WHERE TO BID: Please ensure you are registered to bid on the Barnard Marcus Auctions website.
LEGAL PACK: Download from Barnard Marcus Auctions
Guidance notes are set out in the catalogue in relation to auction lots, particularly from a purchasing perspective.
This attractive residential investment comprises 23 self-contained apartments across two purpose-built blocks, forming a well-managed and cohesive scheme. The property delivers a strong gross income of £221,460 for the 2025/26 academic year, reflecting consistent demand and a proven lettings record.
The development, a high-quality conversion of a former school and youth centre, sits behind secure electric gates and includes limited on-site parking for residents and visitors. A low-maintenance courtyard garden provides access to external storage.
The accommodation offers a varied mix of unit types, primarily well-designed studios, alongside some with separate kitchens and duplex layouts, appealing to a broad tenant base and supporting high occupancy. Both blocks are efficiently configured, with separately rated units, individual electricity meters, and consumer units, enhancing management and cost control.
This is an ideal opportunity for investors seeking a fully operational, income-producing asset with immediate cash flow. Further growth potential is supported by Derby’s expanding student and rental market.
Conveniently located within walking distance of the city centre, University of Derby campuses, and excellent local amenities and transport links, this is a rare opportunity to acquire a substantial multi-unit investment with secure income and long-term capital growth prospects.
Investment Highlights
A robust, income-generating asset with immediate cash flow and potential for value enhancement through active management. Suitable for investors seeking a scalable residential portfolio with long-term income security and capital appreciation prospects.About The Area
The property is situated in a well-established residential area, benefiting from excellent access to a range of local amenities including shops, schools, and leisure facilities. Strong transport links provide convenient connections to surrounding towns and city centres, making the development particularly attractive to working professionals and long-term tenants alike. The area continues to experience consistent rental demand, supported by nearby employment hubs and ongoing local investment, reinforcing its appeal as a stable and desirable location for residential lettings.Auction Details
AUCTION DATE: TUESDAY 23rd JUNE 2026BIDDER REGISTRATION: BY 2pm MONDAY 22nd JUNE 2026
WHERE TO BID: Please ensure you are registered to bid on the Barnard Marcus Auctions website.
LEGAL PACK: Download from Barnard Marcus Auctions
Online Underwriting
FOR SALE VIA THE MIDLANDS AUCTION CENTRE IN ASSOCIATION WITH BARNARD MARCUS AUCTIONS TUESDAY 23rd JUNE 2026 AT 9.30AM AT THE DE VERE GRAND CONNAUGHT ROOMS, 61-65 GREAT QUEEN STREET, COVENT GARDENS, LONDON WC2B 5DA. YOU CAN ALSO REGISTER FOR ONLINE BIDDING.Conditions Of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendor's solicitors seven days prior to sale and the purchaser shall be deemed to have knowledge of the same whether inspected or not. Any questions relating to them must be raised prior to the auction. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn. The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.Health Safety Advice
Whilst the auctioneers make every effort to ensure the safety and security of viewers at lots, we have not carried out a detailed Health & Safety inspection of the lots in our auction and cannot therefore guarantee the safety and security of viewers. All persons attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds, outbuildings and boundaries. All unaccompanied inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers' risk.Guide And Reserve Prices
Guide Price: An indication of the seller's current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.Note
The auctioneers offer four ways to bid including internet, telephone, proxy, and live room bidding. Prospective purchasers will need to register to bid and pay a holding deposit before the sale commences by registering at Barnard Marcus Auctions website. We do not take credit card or cash deposits. The sale of each lot is subject to a documentation charge of £1,800 (including vat) payable on the fall of the hammer.Guidance notes are set out in the catalogue in relation to auction lots, particularly from a purchasing perspective.
Utilities, rights & restrictions
Utility supply:
- Electric Ask agent
- Water Ask agent
- Heating Ask agent
- Broadband Ask agent
- Sewerage Ask agent
Rights and restrictions:
- Private rights of way Ask agent
- Public rights of way Ask agent
- Listed property Ask agent
- Restrictions Ask agent
Risks:
- Flooded in last 5 years Ask agent
- Flood defences Ask agent
- Source of flood Ask agent
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*PLEASE BE AWARE, THESE RESULTS ARE FOR ILLUSTRATIVE PURPOSES ONLY AND SHOULD NOT BE CONSIDERED AS A MORTGAGE
QUOTE. THESE ARE BASED ON A REPAYMENT MORTGAGE AND MAY VARY DEPENDING ON THE TERM AND INTEREST RATE OF YOUR
MORTGAGE.
LENDER FEES MAY ALSO BE APPLICABLE. IF YOU WOULD LIKE GUIDANCE ON THE RIGHT MORTGAGE FOR YOU, WE RECOMMEND SPEAKING TO ONE OF OUR MORTGAGE CONSULTANTS WHO WILL BE MORE THAN HAPPY TO HELP.
**The 4.19% annual interest rate is based on the Connells Group average mortgage interest rate taken from this year YTD and is correct as at 17/03/2026.
Any fees payable will be explained in your initial no-obligation appointment, before you choose whether to use our Mortgage Services.
LENDER FEES MAY ALSO BE APPLICABLE. IF YOU WOULD LIKE GUIDANCE ON THE RIGHT MORTGAGE FOR YOU, WE RECOMMEND SPEAKING TO ONE OF OUR MORTGAGE CONSULTANTS WHO WILL BE MORE THAN HAPPY TO HELP.
**The 4.19% annual interest rate is based on the Connells Group average mortgage interest rate taken from this year YTD and is correct as at 17/03/2026.
Any fees payable will be explained in your initial no-obligation appointment, before you choose whether to use our Mortgage Services.
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