Office for sale in West Street, Sheffield S1

Offers over £825,000 (£226.03/sq. ft)
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Office for sale 3,650 sq. ft*

Property features

  • Comprises ground floor office space and 48 apartments (sold-off)
  • Ground floor office Let to solicitor firm for term of years expiring June 2025
  • Upper parts (48 apartments) ground rent rising to £14,400 in 2031
  • Prominent location opposite Sheffield City Hall and adjacent to Student Living

Property description

Investment Consideration:
Gross Initial Yield: 5.86%
Rental Income: £48,340 p.a.
VAT applicable to this property
Comprises six-storey building with ground floor office space and upper parts consisting of 48 apartments (sold off)
Ground floor office space Let to solicitor firm for term of years expiring 27th June 2025
Upper parts (48 apartments) ground rent rising to £14,400 in 2031
Located on the corner of West Street and Holly Street very close to the prime retail area of Fargate adjacent to Supertram stop and within easy reach of the railway and bus stations, numerous car parks.
Prominent location opposite Sheffield City Hall and adjacent to Prestige Student Living.

Property Description:
Comprises six-storey building with ground floor office space and upper parts consisting of 48 apartments (sold off). The ground floor commercial unit, which has A1, A1 and B1(a) planning consent, is accessed via a main entrance from West Street and has been fitted out to a high office specification with exclusive use of the ladies and gents toilets on the ground floor.

The specifications includes air conditioning, central heating, double glazing, suspended ceiling with recessed L2B fluorescent lighting and perimeter trunking with additional column mounted sockets.

The total net internal ground floor area is approximately 3,650 sq ft (339.1 sq m) and the property has the benefit of one car space in the secure basement car park plus shared use of a disabled bay.

Tenancy:
The ground floor office is at present let to Individuals t/a Best Solicitors for a term of years expiring 27th June 2025 at a current rent of £41,140 p.a. The lease contains full repairing and insuring covenants. Next rent review is on 27th June 2023, open market upward only.
The upper parts (48 apartments) are sold off on long leasehold for 150 years from April 2006 at a total ground rent of £7,200 p.a. (£150 per unit) doubling every 25 years. Ground rent for the upper parts will increase to £14,400 in 2031, £28,800 in 2056, £57,600 in 2081, £115,200 in 2106 and £230,400 in 2131.

Location:
Broughton House is located on the corner of West Street and Holly Street very close to the prime retail area of Fargate adjacent to Supertram stop and within easy reach of the railway and bus stations, numerous car parks.
Sheffield is a city in South Yorkshire, England. The City is located some 7 miles to the west of Rotherham, 15 miles to the south west of Barnsley and 22 miles to the west of Doncaster and benefits from good communication links being close proximity to both the M11 and M18. In addition, Sheffield benefits from Mainline train services to London St Pancras.
Sheffield had a population of 518,090 in the 2011 census, making it the second largest city in the Yorkshire and the Humber region. The Sheffield Built-up Area, of which the Sheffield sub-division is the largest part, had a population of 685,369 also including the town of Rotherham. The district borough, governed from the city, had a population of 584,853 at the mid-2019 estimate, making it the 3rd most populous district in England.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Blue Alpine Partners, SW1P on +44 20 3641 9157 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Blue Alpine Partners, and do not constitute property particulars. Please contact Blue Alpine Partners for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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