Offers are invited in the region of £749,995
Key features
• BLUE CHIP TENANTED FREEHOLD SEMI-COMMERCIAL INVESTMENT PROPERTY
• GROUND FLOOR SHOP LET OUT TO PAPA JOHNS (UK) LTD ON A FR&I LEASE UNTIL 2034.
• 5 HIGH SPEC APARTMENTS ABOVE ACCESSED SEPARATELY. 3X 1 BED APTS, 2X STUDIOS. EPC RATING C.
• SHARED ROOF TERRACE GARDEN
• POTENTIAL COMBINED RENTAL INCOME £50,000PA
• EXCELLENT INVESTMENT OPPORTUNITY
This very prominent property is located on one of Sheffield's busiest arterial roads and comprises a double fronted A5 takeaway restaurant currently let to Papa Johns GB Ltd.
On the first and second floors are five self-contained apartments (3x 1 beds, 2x Studios) with a shared rooftop garden terrace.
The long FR&I lease to Papa Johns is for a term of 15 years from 26 November 2019 (TBO 10th year). The passing rent is £15,000 per annum and there are five yearly rent reviews to market rent. Papa Johns has an excellent covenant and has continued to trade very successfully throughout the Covid-19 health crisis.
The total estimated annual rent receivable for this property is £50,000 per annum.
Location
Ideally placed a short distance from many shops, bars, amenities and supermarkets, including; the new St James Retail Park, as well as the refurbished Graves Sports Centre, medical practice and pharmacy. Well placed for bus services and excellent transport links (e.g. M1 motorway and train station) to surrounding areas including Sheffield city centre and the Peak District. Examples of other retailers in the neighbourhood includes KFC, Costa, Domino's, Asda, Morrisons, TSB bank etc. Good Ofsted rated schools nearby.
Listed Features
- General Retail
- Multiple floors
- Retail Park
- Outdoor Space
- Refurbished
- Parking
- Restaurant
- Use Class - A5
