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For Sale
OPPORTUITY
INVESTMENT
20-30 Eldon Street Barnsley S70 2JB
South Yorkshire
SUMMARY
Attractive Net Initial Yield of 12.25% (assuming purchasers costs of 5.8%) Rental income of £78,000 p.a. Multi-let investment opportunity with ground floor retail Prominent town centre location Active asset management opportunity 983.05 Sq m (10,581 Sq Ft)
Freehold Offers in the region of £600,000 20-30 Eldon Street Barnsley S70 2JB South Yorkshire
Location Barnsley is a town in South Yorkshire, which lies on the River Dearne and is 15 miles north of Sheffield and 24 miles south of Leeds . The town is accessed from Junctions 36, 37 and 38 of the M1 motorway and has a railway station on the Hallam and Penistone lines. The Metropolitan Borough of Barnsley has a population of 231,900 with Barnsley town population being circa 86,000 people. 20–30 Eldon Street is centrally located in Barnsley, just off the main shopping thoroughfare. Other nearby occupiers include, Marks & Spencer, NatWest, Lloyds Bank, WH Smith, Carphone Warehouse and Boots. The building is located adjacent to the new town centre £50m redevelopment.
20-30 Eldon Street Barnsley S70 2JB South Yorkshire
Description
20-30 Eldon Street Barnsley S70 2JB
20–26 Eldon Street, is a four-storey, late Victorian property constructed of Ashlar Stone with attractive ornamental features and a centre pediment. This building has a pitched slate roof and the windows are a mixture of double and single glazed with UPVC and timber frames. 28-30 Eldon Street is a four-storey building, which has an artificial stone face. The building provides accommodation for three ground floor retail units with mixed-use accommodation above. UNIT
SQM
SQFT
121.49
1,307
20—22 Eldon Street (Basement)
62.71
675
24—26 Eldon Street (Ground Floor)
95.57
1,028
24—26 Eldon Street (Basement)
70.89
763
28—30 Eldon Street (Ground Floor)
59.48
640
28—30 Eldon Street (First Floor)
46.85
504
28—30 Eldon Street (Second Floor)
72.14
776
20—26 Eldon Street (First Floor)
163.7
1,762
Second & Third Floors over 26 Eldon Street
156.93
1,689
Third Floor
133.29
1,434
TOTAL
983.05
10,581
20—22 Eldon Street (Ground floor)
24/26 Eldon Street – Yorkshire Traction Company - Sub-leased to Scissors & Razors Hairdressing salon Ground floor retail unit, which has undergone extensive internal refurbishment to provide accommodation as a hair dressing salon. To the rear of the unit is a staff kitchenette and access to the lower ground floor.
20/22 Eldon Street – RAL Limited (Quicksilver Arcade) Ground floor retail unit, that was fully refurbished in 2015 to a high standard, providing accommodation for a retail arcade. The lower ground level provides an office, staff room, training room, kitchenette and store.
South Yorkshire
28/30 Eldon Street – Carnival Ground floor retail unit, fitted for a specialised goods store, with shelving and racking throughout. To the rear is access to the basement which is used for storage. This unit also benefits from storage on the first floor.
20–26 First Floor – Vacant The first floor is fitted for office use and is partitioned into eight cellular offices. Each benefits from a suspended ceiling with strip lighting, skimmed and painted walls, a mixture of laminate and carpeted flooring. The accommodation also benefits from fully fitted WCs.
28/30 Second Floor – HR Essentials Providing office accommodation with carpeted flooring, suspended ceiling with integrated cassette mounting lighting, skimmed and painted walls and kitchenette facilities.
20/26 Second Floor – Laura White (Dance Studio) This unit is currently being used as a dance studio. It has a suspended ceiling with integrated cassette mounted lighting, laminate flooring and skimmed and painted walls. It is partitioned into three rooms and benefits from fully fitted WCs.
Asset Management The building is located adjacent to the new town centre £50m redevelopment scheme, which will see the traditional markets transformed creating an exciting new public square including a new library, extended metropolitan centre, office accommodation and meeting place. This will provide an excellent opportunity in the future to gain reversions in the rental income as the profile of the immediate locale will improve significantly, likely creating a higher footfall on Eldon Street.
Currently, the building offers an excellent prospect for active asset management. The vacant floor provides an opportunity to seek a new tenant to increase the buildings income. Additionally, the occupier ‘Laura White’ who operates a Dance School is at present on a Tenancy at Will and have indicated they wish to negotiate a new extended lease. If the upper floors were to become vacant, they would be well suited to residential conversion (Subject To Planning Permission) or indeed full refurbishment to improve the accommodation offered to attract new tenants.
Accommodation & Tenancies
20-30 Eldon Street Barnsley S70 2JB Lease Start
Lease End (Break Option)
Term (Years)
Next Review
Rent PA
Rent PSF
1,301 Ground 590 Basement ITZA 753
25/03/14
24/03/24
10
25/03/19
£27,250
£35 Zone A assuming £1.50 psf on basement
Agreed re-gear of lease to new 10 year term without break
24/26
887 Ground 871 Basement ITZA 597
29/09/04
28/09/19
15
£22,000
£35.39 Zone A assuming £1 psf on basement
Premises sub-let to Scissors & Razors at a rent rising to £16,000 pa
K Schofield t/a Carnival
28/30
712 Ground 368 Basement 504 First
18/09/14
17/09/17
3
£15,000
HR Essentials
28/30 2F
776
12/08/11
11/08/16
5
£5,500
VACANT
20/26 1F
1,688
Laura White
20/26 2F
1,637
Tenant
Unit
RAL Ltd
20/22
Yorkshire Traction Ltd
Size (sqft)
£5,000
28/08/13
Tenancy at Will
TOTAL
Comments
South Yorkshire
Passing rent is £12,000 rising to £15,000 pa from 18/09/16. The Vendor will top the rent up to £15,000.
Rental guaranteed for 12 months
£3,250 £78,000
RAL Limited
K Schofield t/a Carnival
RAL Ltd operator arcades and gambling machines throughout the UK. The main high street brand is ‘Quicksilver Arcades’.
Carnival is a successful and independently run retail outlet that sells novelty and specialist gift goods.
13/06/15
14/06/14
08/06/13
Turnover
£60,811,00
£57,110,000
£47,482,000
Pre Tax Profit
£3,311,000
£2,490,000
-£374,000
Shareholders
£22,716,000
£18,636,000
£16,732,000
HR Essentials The tenant is a recruitment firm which operates 7 offices in the South Yorkshire and Midlands area.
The Yorkshire Traction Company Limited
Laura White
Yorkshire traction are a south Yorkshire Bus operator. They have sub-let their lease to Scissors & Razors who are a local independent hairdressing and beauty salon.
The tenant operates an independent Dance School, servicing the local area.
30/04/15
30/04/14
30/04/13
Turnover
£57,201,000
£47,057,000
£22,141,000
Pre Tax Profit
£4,677,000
£6,193,000
£2,011,000
Shareholders
£10,239,000
£6,279,000
£2,014,000
Vacant The vendor is willing to offer a 12-month rental guarantee at £5,000 per annum exclusive.
VAT The property has been elected for VAT.
EPC The EPC’s are available upon request.
Legal Costs Each party to be responsible for their own legal costs incurred.
Viewing By appointment only with the joint agents:
Matthew Edwards Telephone: 0113 386 8823 Mobile: 07778 131872 [email protected]
Jake Pygall Telephone: 0113 386 8802 Mobile: 07703 281242 [email protected]
Andrew Corbett Telephone: 01226 298 456 Mobile: 07831 102641 [email protected]
(i) the particulars are set out as a general outline only for the guidance of intended purchasers or lessees, and do not const itute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary per missions for use and occupation, and other details are given without responsibility and any intending purchasers or tenant s should not rely on them a s state ments or representations of fact but must satisfy the mselves by inspection or otherwise as to the correctness o f each of t he m; (iii) no person in the employment of Messrs Ryden has any authority to make or gi ve any representation or wa rranty whatever in relation to this property.
OPPORTUITY
INVESTMENT
20-30 Eldon Street Barnsley S70 2JB
South Yorkshire
SUMMARY
Attractive Net Initial Yield of 12.25% (assuming purchasers costs of 5.8%) Rental income of £78,000 p.a. Multi-let investment opportunity with ground floor retail Prominent town centre location Active asset management opportunity 983.05 Sq m (10,581 Sq Ft)
Freehold Offers in the region of £600,000 20-30 Eldon Street Barnsley S70 2JB South Yorkshire
Location Barnsley is a town in South Yorkshire, which lies on the River Dearne and is 15 miles north of Sheffield and 24 miles south of Leeds . The town is accessed from Junctions 36, 37 and 38 of the M1 motorway and has a railway station on the Hallam and Penistone lines. The Metropolitan Borough of Barnsley has a population of 231,900 with Barnsley town population being circa 86,000 people. 20–30 Eldon Street is centrally located in Barnsley, just off the main shopping thoroughfare. Other nearby occupiers include, Marks & Spencer, NatWest, Lloyds Bank, WH Smith, Carphone Warehouse and Boots. The building is located adjacent to the new town centre £50m redevelopment.
20-30 Eldon Street Barnsley S70 2JB South Yorkshire
Description
20-30 Eldon Street Barnsley S70 2JB
20–26 Eldon Street, is a four-storey, late Victorian property constructed of Ashlar Stone with attractive ornamental features and a centre pediment. This building has a pitched slate roof and the windows are a mixture of double and single glazed with UPVC and timber frames. 28-30 Eldon Street is a four-storey building, which has an artificial stone face. The building provides accommodation for three ground floor retail units with mixed-use accommodation above. UNIT
SQM
SQFT
121.49
1,307
20—22 Eldon Street (Basement)
62.71
675
24—26 Eldon Street (Ground Floor)
95.57
1,028
24—26 Eldon Street (Basement)
70.89
763
28—30 Eldon Street (Ground Floor)
59.48
640
28—30 Eldon Street (First Floor)
46.85
504
28—30 Eldon Street (Second Floor)
72.14
776
20—26 Eldon Street (First Floor)
163.7
1,762
Second & Third Floors over 26 Eldon Street
156.93
1,689
Third Floor
133.29
1,434
TOTAL
983.05
10,581
20—22 Eldon Street (Ground floor)
24/26 Eldon Street – Yorkshire Traction Company - Sub-leased to Scissors & Razors Hairdressing salon Ground floor retail unit, which has undergone extensive internal refurbishment to provide accommodation as a hair dressing salon. To the rear of the unit is a staff kitchenette and access to the lower ground floor.
20/22 Eldon Street – RAL Limited (Quicksilver Arcade) Ground floor retail unit, that was fully refurbished in 2015 to a high standard, providing accommodation for a retail arcade. The lower ground level provides an office, staff room, training room, kitchenette and store.
South Yorkshire
28/30 Eldon Street – Carnival Ground floor retail unit, fitted for a specialised goods store, with shelving and racking throughout. To the rear is access to the basement which is used for storage. This unit also benefits from storage on the first floor.
20–26 First Floor – Vacant The first floor is fitted for office use and is partitioned into eight cellular offices. Each benefits from a suspended ceiling with strip lighting, skimmed and painted walls, a mixture of laminate and carpeted flooring. The accommodation also benefits from fully fitted WCs.
28/30 Second Floor – HR Essentials Providing office accommodation with carpeted flooring, suspended ceiling with integrated cassette mounting lighting, skimmed and painted walls and kitchenette facilities.
20/26 Second Floor – Laura White (Dance Studio) This unit is currently being used as a dance studio. It has a suspended ceiling with integrated cassette mounted lighting, laminate flooring and skimmed and painted walls. It is partitioned into three rooms and benefits from fully fitted WCs.
Asset Management The building is located adjacent to the new town centre £50m redevelopment scheme, which will see the traditional markets transformed creating an exciting new public square including a new library, extended metropolitan centre, office accommodation and meeting place. This will provide an excellent opportunity in the future to gain reversions in the rental income as the profile of the immediate locale will improve significantly, likely creating a higher footfall on Eldon Street.
Currently, the building offers an excellent prospect for active asset management. The vacant floor provides an opportunity to seek a new tenant to increase the buildings income. Additionally, the occupier ‘Laura White’ who operates a Dance School is at present on a Tenancy at Will and have indicated they wish to negotiate a new extended lease. If the upper floors were to become vacant, they would be well suited to residential conversion (Subject To Planning Permission) or indeed full refurbishment to improve the accommodation offered to attract new tenants.
Accommodation & Tenancies
20-30 Eldon Street Barnsley S70 2JB Lease Start
Lease End (Break Option)
Term (Years)
Next Review
Rent PA
Rent PSF
1,301 Ground 590 Basement ITZA 753
25/03/14
24/03/24
10
25/03/19
£27,250
£35 Zone A assuming £1.50 psf on basement
Agreed re-gear of lease to new 10 year term without break
24/26
887 Ground 871 Basement ITZA 597
29/09/04
28/09/19
15
£22,000
£35.39 Zone A assuming £1 psf on basement
Premises sub-let to Scissors & Razors at a rent rising to £16,000 pa
K Schofield t/a Carnival
28/30
712 Ground 368 Basement 504 First
18/09/14
17/09/17
3
£15,000
HR Essentials
28/30 2F
776
12/08/11
11/08/16
5
£5,500
VACANT
20/26 1F
1,688
Laura White
20/26 2F
1,637
Tenant
Unit
RAL Ltd
20/22
Yorkshire Traction Ltd
Size (sqft)
£5,000
28/08/13
Tenancy at Will
TOTAL
Comments
South Yorkshire
Passing rent is £12,000 rising to £15,000 pa from 18/09/16. The Vendor will top the rent up to £15,000.
Rental guaranteed for 12 months
£3,250 £78,000
RAL Limited
K Schofield t/a Carnival
RAL Ltd operator arcades and gambling machines throughout the UK. The main high street brand is ‘Quicksilver Arcades’.
Carnival is a successful and independently run retail outlet that sells novelty and specialist gift goods.
13/06/15
14/06/14
08/06/13
Turnover
£60,811,00
£57,110,000
£47,482,000
Pre Tax Profit
£3,311,000
£2,490,000
-£374,000
Shareholders
£22,716,000
£18,636,000
£16,732,000
HR Essentials The tenant is a recruitment firm which operates 7 offices in the South Yorkshire and Midlands area.
The Yorkshire Traction Company Limited
Laura White
Yorkshire traction are a south Yorkshire Bus operator. They have sub-let their lease to Scissors & Razors who are a local independent hairdressing and beauty salon.
The tenant operates an independent Dance School, servicing the local area.
30/04/15
30/04/14
30/04/13
Turnover
£57,201,000
£47,057,000
£22,141,000
Pre Tax Profit
£4,677,000
£6,193,000
£2,011,000
Shareholders
£10,239,000
£6,279,000
£2,014,000
Vacant The vendor is willing to offer a 12-month rental guarantee at £5,000 per annum exclusive.
VAT The property has been elected for VAT.
EPC The EPC’s are available upon request.
Legal Costs Each party to be responsible for their own legal costs incurred.
Viewing By appointment only with the joint agents:
Matthew Edwards Telephone: 0113 386 8823 Mobile: 07778 131872 [email protected]
Jake Pygall Telephone: 0113 386 8802 Mobile: 07703 281242 [email protected]
Andrew Corbett Telephone: 01226 298 456 Mobile: 07831 102641 [email protected]
(i) the particulars are set out as a general outline only for the guidance of intended purchasers or lessees, and do not const itute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary per missions for use and occupation, and other details are given without responsibility and any intending purchasers or tenant s should not rely on them a s state ments or representations of fact but must satisfy the mselves by inspection or otherwise as to the correctness o f each of t he m; (iii) no person in the employment of Messrs Ryden has any authority to make or gi ve any representation or wa rranty whatever in relation to this property.
