Mill Street
Derby
guide price
£2,000,000
Tenure: Freehold
Ref: DBY121960
- 23 self-contained student apartments across two blocks
- Fully let for 2025/26 academic year - £221,460 gross income
- Partially pre-let for 2026/27 academic year
- Established student accommodation investment
- Strong historic occupancy and demand
- Separately rated & metered units
- Secure gated site with parking and communal areas
- Planning reference: 08/18/01227 read more show less
monthly mortgage estimate
A substantial property comprising of 23 self-contained studios across 2 well-maintained blocks. The property is a fully operational, income-producing asset generating a gross income of £221,460 for the 2025/26 academic year, with a track record of full occupancy driven by consistent student demand.
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Council Tax Band: A
Tenure: Freehold
floor plans
in detail
AUCTION DATE: TUESDAY 23RD JUNE 2026
This attractive development consists of 23 self-contained units within two cohesive blocks, exclusively providing student accommodation. The property delivered a strong gross income of £221,460 for the 2025/26 academic year, reflecting consistent demand and a proven lettings record.Importantly, the scheme is already partially let for the 2026/2027 academic year, meaning it will be sold as an ongoing investment with tenants in situ. Prospective buyers are advised to check with the auction house in relation to occupancy levels. Tenancy agreements for 2026/27 will be included within the legal pack.
The accommodation sits behind secure electric gates, includes limited on-site parking for residents, and offers a mix of predominantly studio apartments, alongside some units with separate kitchens and duplex layouts, ensuring broad appeal within the student demographic and supporting strong occupancy levels year-on-year. The property additionally benefits from a low-maintenance courtyard garden with external storage areas
Both blocks are efficiently configured, with individual electricity & water meters and consumer units per unit, enhancing management and cost control. It is important to note that rates are included in the rent within the current terms and are therefore to be paid by the landlord.
Planning consent can be reviewed under reference: 08/18/01227, which confirms the permitted use and relevant conditions for the scheme.
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 development consists of 23 self-contained units within two cohesive blocks, exclusively providing student accommodation. The property delivered a strong gross income of £221,460 for the 2025/26 academic year, reflecting consistent demand and a proven lettings record.Importantly, the scheme is already partially let for the 2026/2027 academic year, meaning it will be sold as an ongoing investment with tenants in situ. Prospective buyers are advised to check with the auction house in relation to occupancy levels. Tenancy agreements for 2026/27 will be included within the legal pack.
The accommodation sits behind secure electric gates, includes limited on-site parking for residents, and offers a mix of predominantly studio apartments, alongside some units with separate kitchens and duplex layouts, ensuring broad appeal within the student demographic and supporting strong occupancy levels year-on-year. The property additionally benefits from a low-maintenance courtyard garden with external storage areas
Both blocks are efficiently configured, with individual electricity & water meters and consumer units per unit, enhancing management and cost control. It is important to note that rates are included in the rent within the current terms and are therefore to be paid by the landlord.
Planning consent can be reviewed under reference: 08/18/01227, which confirms the permitted use and relevant conditions for the scheme.
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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