Summary Multi-let office building in the centre of Sheffield. Location The subject property is located in central Sheffield in close proximity to Sheffield Cathedral. It is within the heart of the traditional professional quarter of the city. Campo Lane is home to many small and medium scale professional practices. Due to the proximity to the center of the city public transport links are excellent with the Supertram (Cathedral Stop) within a few hundred meters. Description A semi-detached, mixed use, period building set within the conservation area. The property is predominantly office accommodation with a retail unit fronting Campo Lane. The accommodation is spread over 4 floors (lower ground to 2nd floor). The majority of the office space is let and income producing with several tenants currently holding over. A new 10 year lease has been agreed on the ground floor retail unit and part of the ground floor office space. Accomodation
Floor | Sq M | Sq Ft |
Lower Ground Floor | 129.69 | 1,396 |
Ground Floor | 143.99 | 1,550 |
First Floor | 168.61 | 1,815 |
Second Floor | 83.42 | 898 |
Total | 525.71 | 5,659 |
Tenancy Information
Tenant | Rent | Lease Status |
Poetry Business | £4,000 | 3 yrs from November 2017 |
Mr Denton | £1,500 | Holding over |
Mr Saxby | £12,500 | 10 yr lease from 1st Sept 2019. |
Mrs Hull | £5,100 | Holding over |
SMC | £8,000 | Holding over |
Mrs Hill | £2,100 | Holding over |
York Archaeology | £5,100 | Holding over |
Total | £38,300 |
Copies of tenancy agreements are available on request.
Offices on the ground floor are currently vacant and total 755 sq ft (70 sq m). These are available at a quoting rent of £10,500 pa.
Tenure The property is held on a 200 year lease from 25th March 1915. Title Number - SYK416785 Terms
Passing rent of £38,300 pax. Based on an asking price of £450,000 (Four Hundred & Fifty Thousand) reflects a net initial yield of 8.15% after purchasers costs of 4.28%. When fully let the net yield would be up to 10.38% assuming the vacant space is let at £10,500 pa.
Income Producing Long Standing Tenants Central Location Rent - £38,300 pax OIRO - £450,000