Price Offers in the region of £960,000

Rates Payable £16,467 per annum Interested parties are advised to verify this information with the local Rating Authority.

EPC Rating Property graded as C-E (44-77)

Description

The property is prominently located on Ecclesall Road (A625). Ecclesall Road is regarded as one of Sheffield’s prime leisure pitches and is situated approximately 1 mile south-west of Sheffield city centre. Neighbouring occupiers include Kettle Black, Copa Caffe, Papa John’s, Oliver Bonas, M&S, Starbucks, Uncle Sams, The Nursery Tavern amongst many others. Opposite is Sheffield Hallam University’s Collegiate Crescent Campus.

The property comprises a mid-terrace retail unit with three separate self-contained two bed flats above.

The ground floor retail unit is currently vacant and available to let at a quoting rent of £47,500 per annum. The flats are let on a 12 month AST’s producing a total monthly rent roll of £2,825pcm.

Offers are being sort in the region of £960,000 for the freehold interest. A purchase at this level reflects an attractive net initial yield of 8.02% assuming usual purchaser’s costs of 5.72% and the retail unit is let at the quoting rent.

Viewings

Strictly by appointment with the sole agents

Terms

Offers are being sort in the region of £960,000 for the freehold interest. A purchase at this level reflects an attractive net initial yield of 8.02% assuming usual purchaser’s costs of 5.72% and the retail unit is let at the quoting rent.

Tenancies

The ground floor retail unit is currently vacant and available to let at a quoting rent of £47,500 per annum.
The flats are let on a 12 month AST’s as follows;

297a Ecclesall Road - 2 beds - £1,000 PCM
297b Ecclesall Road - 2 beds - £875 PCM
297c Ecclesall Road - 2 beds - £950PCM
Total - £2,825

Business Rates/Council Tax

The premises have the following assessments:

297-299 Ecclesall Road - £33,000 RV
297a Ecclesall Road - CT Band A
297b Ecclesall Road - CT Band A
297c Ecclesall Road - CT Band A

Energy Performance Certificate (EPC)

297-299 Eccesall Road - C (60)
297a Ecclesall Road - E (44)
297b Ecclesall Road - E (46)
297c Ecclesall Road - C (77)

Costs

Each party is to be responsible for their own legal costs incurred in the transaction.

VAT

All prices, premiums and rents etc. are quoted exclusive of VAT at the prevailing rate.

Money Laundering

The Money Laundering Regulations require us to conduct checks upon all purchasers. Prospective purchasers will be required to provide identification documents.