Retail premises for sale

Unit 1 Phase 3, Park Hill, Rhodes Street, Sheffield S2

Description

Park Hill is being developed in phases with the property comprising a ground floor retail space. It is situated under Phase 3, with Beton House above being a modern purpose built student block. It is one of only a limited number of retail spaces at Park Hill. The current tenant has fitted out the space as a convenience store. Neighbouring business occupants include bloc Hairdressers.

Location

Park Hill is like no other place. Iconic is an overused term, but it really does apply to Park Hill. Completed in 1961, the Grade II* Listed Park Hill (the largest Listed structure in Europe) is a landmark on the Sheffield skyline atop one of the city's seven hills. With the tram and train within a matter of minutes walk, it offers superb connectivity to public transport. Furthermore, a pay and display car park behind Park Hill offers parking for any staff and customers. Park Square Roundabout is just down the hill providing onward access to The Parkway and M1.

Tenancy

The property is let on an equivalent full repairing and insuring lease to Crown Convenience Store Ltd for a term of 10 years, commencing on 10 September 2021, at an annual rent of £25,000 pax. The tenant has an option to break after 5 years. A copy of the lease is available on request.
The property is held by way of a 250 year ground lease at a rent passing of 50p psf pa.
Copies of all the above documents are available on request.

Tenure

The property is available to purchase by way of long leasehold interest at a price of £270,000 plus VAT.