retail / residential investment opportunity
FOR SALE
RETAIL / RESIDENTIAL INVESTMENT OPPORTUNITY On the instructions of the Joint LPA Receivers
CORPORATION BUILDING, SNIG HILL, SHEFFIELD, S3 8NB £1,150,000 \ 6 x retail units and 12 x serviced apartments. \ Situated in a prominent position within Sheffield city centre. \ Fully let and producing a gross annual income of £114,040 per annum.
AVAILABLE SPACE 0.08 hectares (0.2 acres)
LOCATION
TENANCY
The property is located adjacent to South Yorkshire Police Headquarters on Snig Hill within Sheffield City Centre, South Yorkshire.The main A61 Corporation Street and A57 Sheffield Parkway are in close proximity to the property. Junction 34 of the M1 motorway lies circa 4 miles east.
The property is currently fully let and producing a gross annual income of £114,040. A tenancy schedule is available on request.
DESCRIPTION
Description / Various
The property comprises a 5 storey mixed use building configured to provide 6 x retail units to the ground floor and 12 x serviced apartments to the upper floors.
Rateable value / £55,150
The building is of brick construction beneath a pitched slate covered roof with a mixture of timber and PVCu framed windows. The ground floor retail units benefit from glass display windows. The Approximate Net Internal Areas of the retail units are as follows:UNIT 18 Snig Hill 20 Snig Hill 22 Snig Hill 24 – 26 Snig Hill 28 Snig Hill
DESCRIPTION Ground floor Offices, w/c, basement storage Ground floor retail, basement storage Ground floor retail, kitchen, basement retail, wc Ground floor retail, kitchen, office, basement storage Ground floor retail, basement beauty treatment area
Total NIA
SQ FT 717 782
VAT Prices and rental are exclusive of VAT if chargeable.
TERMS Offers are invited in the region of £1,150,000 for the freehold interest.
LEGAL COSTS Each party to be responsible for their own legal costs incurred in the transaction.
1,046 1,600 1,126
5,271
The upper floors comprise 6 x 1 bedroom, 2 x 2 bedroom and 4 x 3 bedroom apartments. The property benefits from a car park to the rear providing 6 parking spaces.
0161 831 1690
RATEABLE VALUE
VIEWING By prior arrangement with the agents: Eddisons Tel/0161 8311690 Email /[email protected] Email / [email protected] OCTOBER 2015 SUBJECT TO CONTRACT FILE REF / 704.2336A
TENANCY SCHEDULE – CORPORATION BUILDING, SNIG HILL, SHEFFIELD S3 8ND ADDRESS 16/18 Snig Hill & 12 X apartments
TENANT City Lodgings Ltd
USE Office and serviced apartments
RENT (£pa) £69,000
TERM 1 March 2014 – 28 February 2019
TERMS Tenant responsible for internal repairs.
RATEABLE VALUE £7,600 (Unit 18 Snig Hill)
Tenant pays for all services. Insurance re-charged to tenant.
20 Snig Hill
Alpha Barbers
Hairdressers
£9,252
1 December 2010 – 30 November 2011 HOLDING OVER
Tenant has right to renew lease for period of 5 years with 6 months notice prior to expiry of existing lease. Lease to continue past expiry date on annual basis.
£9,500
Landlord or tenant can terminate lease with 6 months written notice. The landlord can review the rent with 3 months notice. Reviews are upwards only. Services/Insurance re-charged to tenant.
22 Snig Hill
Joanne Nolan
Cafe
£14,479.92
20 October 2008 – 19 October 2020
Tenant responsible for internal repairs & insurance. 3 yearly upwards only rent reviews.
£10,000
th
Tenant option to break on 20 October 2017 with 6 months notice required. Services/Insurance re-charged to tenant.
24/26 Snig Hill
Speakbook Company
Offices, gallery and storage.
£10,800 (Rent free until 18 November 2015)
19 August 2015 – 18 August 2018
Tenant responsible for internal repairs & insurance. th Tenant break options on 18 Nov 2015 & th 18 Nov 2016. Tenant responsible for internal repairs and insurance. Services re-charged to tenant.
£20,250
28 Snig Hill
Alicia Nang
Beauty Salon
£9,308
1 September 2014 – 31 August 2015
Tenant has right to renew lease for a period to be agreed with the Landlord with 3 months notice prior to expiry of existing lease. We understand this has been carried out but do not have any documentation to confirm. Rent review with 3 months notice – open market rent to be agreed between the LL & Tenant. Tenant responsible for internal repairs & insurance. Service charge is payable by the tenant.
Ground floor to the rear of Unit 18
Michael Foster
Studio/storage
£1,200 (Rent free until 18 November 2015)
19 August 2015 – 18 August 2018
Services/ insurance re-charged to tenant Tenant responsible for internal repairs & some external repairs. Tenant options to break on 18 November 2015 & 18 November 2016.
Total
USE
£114,039.92
£7,800
RETAIL / RESIDENTIAL INVESTMENT OPPORTUNITY On the instructions of the Joint LPA Receivers
CORPORATION BUILDING, SNIG HILL, SHEFFIELD, S3 8NB £1,150,000 \ 6 x retail units and 12 x serviced apartments. \ Situated in a prominent position within Sheffield city centre. \ Fully let and producing a gross annual income of £114,040 per annum.
AVAILABLE SPACE 0.08 hectares (0.2 acres)
LOCATION
TENANCY
The property is located adjacent to South Yorkshire Police Headquarters on Snig Hill within Sheffield City Centre, South Yorkshire.The main A61 Corporation Street and A57 Sheffield Parkway are in close proximity to the property. Junction 34 of the M1 motorway lies circa 4 miles east.
The property is currently fully let and producing a gross annual income of £114,040. A tenancy schedule is available on request.
DESCRIPTION
Description / Various
The property comprises a 5 storey mixed use building configured to provide 6 x retail units to the ground floor and 12 x serviced apartments to the upper floors.
Rateable value / £55,150
The building is of brick construction beneath a pitched slate covered roof with a mixture of timber and PVCu framed windows. The ground floor retail units benefit from glass display windows. The Approximate Net Internal Areas of the retail units are as follows:UNIT 18 Snig Hill 20 Snig Hill 22 Snig Hill 24 – 26 Snig Hill 28 Snig Hill
DESCRIPTION Ground floor Offices, w/c, basement storage Ground floor retail, basement storage Ground floor retail, kitchen, basement retail, wc Ground floor retail, kitchen, office, basement storage Ground floor retail, basement beauty treatment area
Total NIA
SQ FT 717 782
VAT Prices and rental are exclusive of VAT if chargeable.
TERMS Offers are invited in the region of £1,150,000 for the freehold interest.
LEGAL COSTS Each party to be responsible for their own legal costs incurred in the transaction.
1,046 1,600 1,126
5,271
The upper floors comprise 6 x 1 bedroom, 2 x 2 bedroom and 4 x 3 bedroom apartments. The property benefits from a car park to the rear providing 6 parking spaces.
0161 831 1690
RATEABLE VALUE
VIEWING By prior arrangement with the agents: Eddisons Tel/0161 8311690 Email /[email protected] Email / [email protected] OCTOBER 2015 SUBJECT TO CONTRACT FILE REF / 704.2336A
TENANCY SCHEDULE – CORPORATION BUILDING, SNIG HILL, SHEFFIELD S3 8ND ADDRESS 16/18 Snig Hill & 12 X apartments
TENANT City Lodgings Ltd
USE Office and serviced apartments
RENT (£pa) £69,000
TERM 1 March 2014 – 28 February 2019
TERMS Tenant responsible for internal repairs.
RATEABLE VALUE £7,600 (Unit 18 Snig Hill)
Tenant pays for all services. Insurance re-charged to tenant.
20 Snig Hill
Alpha Barbers
Hairdressers
£9,252
1 December 2010 – 30 November 2011 HOLDING OVER
Tenant has right to renew lease for period of 5 years with 6 months notice prior to expiry of existing lease. Lease to continue past expiry date on annual basis.
£9,500
Landlord or tenant can terminate lease with 6 months written notice. The landlord can review the rent with 3 months notice. Reviews are upwards only. Services/Insurance re-charged to tenant.
22 Snig Hill
Joanne Nolan
Cafe
£14,479.92
20 October 2008 – 19 October 2020
Tenant responsible for internal repairs & insurance. 3 yearly upwards only rent reviews.
£10,000
th
Tenant option to break on 20 October 2017 with 6 months notice required. Services/Insurance re-charged to tenant.
24/26 Snig Hill
Speakbook Company
Offices, gallery and storage.
£10,800 (Rent free until 18 November 2015)
19 August 2015 – 18 August 2018
Tenant responsible for internal repairs & insurance. th Tenant break options on 18 Nov 2015 & th 18 Nov 2016. Tenant responsible for internal repairs and insurance. Services re-charged to tenant.
£20,250
28 Snig Hill
Alicia Nang
Beauty Salon
£9,308
1 September 2014 – 31 August 2015
Tenant has right to renew lease for a period to be agreed with the Landlord with 3 months notice prior to expiry of existing lease. We understand this has been carried out but do not have any documentation to confirm. Rent review with 3 months notice – open market rent to be agreed between the LL & Tenant. Tenant responsible for internal repairs & insurance. Service charge is payable by the tenant.
Ground floor to the rear of Unit 18
Michael Foster
Studio/storage
£1,200 (Rent free until 18 November 2015)
19 August 2015 – 18 August 2018
Services/ insurance re-charged to tenant Tenant responsible for internal repairs & some external repairs. Tenant options to break on 18 November 2015 & 18 November 2016.
Total
USE
£114,039.92
£7,800
