£300,000
(£230.24/sq. ft)
Office for sale40A Bank Street, Sheffield S1
1,303 sq. ft
EPC Rating: F
Freehold
About this property
Unique business centre investment
Historic building comprehensively refurbished
7 studios - fully let
Net income of £30,233 pa
Competitive 10% yield
Of interest to investors or owner occupiers
EPC - the property has an A rating
Description
40A Bank Street is a 2 storey refurbished building providing 7 studios, with shared WC and kitchenette facilities. The refurbishment has been recently completed and benefits from:
- Underfloor heating
- Fully redecorated
- New double glazing
- Lighting
- Feature entrance and staircase
- Communal internet
- Shared external courtyard
- A EPC rating
The property is accessed via a shared ginnel between 40 and 42 Bank Street.
Location
The property is located in the Cathedral Quarter in Sheffield city centre. The Cathedral Quarter has witnessed a renaissance in recent years with a number of substantial buildings being converted into private residences. The property is a stone's throw from Fargate and thus enjoys excellent transport links in terms of tram and bus stops. There is also on street and multi-storey car parking immediately nearby.
Tenure And Tenancy
The property is held freehold and is currently fully let to 7 separate tenants, all on short term contracts with 3 month notice (further details available on request).
The tenancies are all on an all exclusive basis (except business rates) and provide a total annual income of £32,280 pax. This provides a net annual income of £30,233 pax.
The Opportunity
The property is ideal for an investor seeking a well let small investment with management responsibilities. Alternatively it could appeal to a potential owner occupier.
Availability
The property is available to purchase freehold for £300,000 with the benefit of the existing tenancies. The property is not elected to pay VAT.
40A Bank Street is a 2 storey refurbished building providing 7 studios, with shared WC and kitchenette facilities. The refurbishment has been recently completed and benefits from:
- Underfloor heating
- Fully redecorated
- New double glazing
- Lighting
- Feature entrance and staircase
- Communal internet
- Shared external courtyard
- A EPC rating
The property is accessed via a shared ginnel between 40 and 42 Bank Street.
Location
The property is located in the Cathedral Quarter in Sheffield city centre. The Cathedral Quarter has witnessed a renaissance in recent years with a number of substantial buildings being converted into private residences. The property is a stone's throw from Fargate and thus enjoys excellent transport links in terms of tram and bus stops. There is also on street and multi-storey car parking immediately nearby.
Tenure And Tenancy
The property is held freehold and is currently fully let to 7 separate tenants, all on short term contracts with 3 month notice (further details available on request).
The tenancies are all on an all exclusive basis (except business rates) and provide a total annual income of £32,280 pax. This provides a net annual income of £30,233 pax.
The Opportunity
The property is ideal for an investor seeking a well let small investment with management responsibilities. Alternatively it could appeal to a potential owner occupier.
Availability
The property is available to purchase freehold for £300,000 with the benefit of the existing tenancies. The property is not elected to pay VAT.
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