Mixed use, income producing investment
Situated approximately 4.5 miles to the North East of Sheffield city centre and approximately 3 miles South West of Rotherham town centre. The property sits in the Wincobank area of Sheffield. The surrounding properties are predominantly residential with a mixture of industrial and retail in the wider area. Meadowhall Shopping Centre is located a short distance away. The property benefits from good road, rail and bus links with Meadowhall Interchange a short distance away. Similarly access onto junction 34 of the M1 Motorway is a short distance away.
The property is a former public house which has been converted to provide commercial accommodation, 1x2 bed flat and 1x1 bed flat. The property also benefits from a decent sized car park to the side which has 7 marked bays.
The accommodation to the ground floor comprises a mix of open plan space and treatment rooms and is currently occupied by The Foundry which is a beauty and ladies gymnasium.
|Area||Sq M||Sq Ft|
|Commercial Ground Floor||117.10||1,260|
|Flar 1||One bed flat - Not inspcted|
|Flat 2||Living Room, Kitchen, bathroom, Bedroom 1 & Bedroom 2|
We understand both flats are let on AST's with the following income;
Flat 1 - £425 pcm
Flat 2 - £500 pcm
The ground floor commercial space is held under licence until the 4th of June at a passing rent of £833pcm (£999.60 pcm inclusive of VAT)
Total income of £21,096 per annum exclusive of VAT.
Copies of the commercial lease and ASTs can be provided upon request.
The property is available freehold with sitting tenant with an asking price of £235,000+VAT. Vacant possession of the ground floor can be obtained prior to exchange & completion should the purchaser wish to occupy themselves. Assuming purchases costs of 2.52% results in a net yield of 8.76%
Main road and corner frontage
Two self contained flats & tenanted commercial ground floor
Mixed use investment; Commercial at £833pcm, Flat 1 at £425pcm, & Flat 2 at £500pcm. Total income of £21,096 pa (ex. of VAT)
May be suitable for other uses/conversion or sub-division into small units
Off-road car parking for at least 7 vehicles at present