Freehold Shop & Flat Investment located on Middlewood Road, Hillsborough

Key Points

• Located on the Middlewood Road, the main retailing centre in Hillsborough, Sheffield
• Busy retail location close to Hillsborough Shopping Centre
• Ground floor shop is let at £13,080 per annum and self contained flat is let at £5,720 per annum.
• Total gross income of £18,800 per annum.
• Long standing established tenants

Description

The property comprises a mid-terrace building of traditional brick and artificial slate construction. The property is split between retail to the ground floor and a self contained flat to the upper floors.

The ground floor and basement (commercial part) is occupied by 'EW Pearsons & Sons' who operate as a butchers. To the ground floor is a front sales area, rear preparation area, rear store and external detached store. There is further basement storage.

The flat (49a Middlewood Road) is accessed via a rear staircase which leads to external decking. The flat includes a bathroom (WC/shower/wash basin), kitchen, and living room to the first floor, and two attic bedrooms. The flat includes radiators, carpets, dormer windows with a boiler located in the hallway.

Location

The property is located on Middlewood Road in the main centre of the Hillsborough retail district, which is approximately 2 miles north of Sheffield city centre. Middlewood Road is serviced via a bus and supertram network. This area is a busy retailing area with many local and national retailers within a close proximity including Subway, Halifax, British Heart Foundation, B&M, Boots, Beres Sandwich Shop, and many others. Hillsborough is a popular Sheffield suburb with a mix of housing types within a short walk of the subject property.

Tenure

The property is offered for sale on a Freehold basis subject to the current tenancies stated within these details.

Freehold - Title Number SYK93351

Tenancies

The ground floor and basement at 49 Middlewood Road is subject to an existing lease (rent and business equipment), and a new lease (same tenant) will be entered into to coincide with the sale, at a rent of £13,080 pa (£1,090pcm) on the basis of a new 5 year lease.

The flat to 49a Middlewood Road is let on an assured shorthold tenancy (AST) producing a total income of £5,720 pa (£110 per week). A new AST from 9th June 2023.

Both tenants are long standing and have been in occupation for over 10 years.

The total current approximate income is £18,800 pa. Further details are available by request.

Price

£200,000. We understand VAT is not payable on the purchase price.

Identity Checks

In order to comply with Anti-Money Laundering Legislation, the successful purchaser will be required to provide certain identification documents. The required documents will be confirmed to and requested from the successful purchaser.