Multi-let office building in the centre of Sheffield with potential to increase income or occupy

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.

Key Points

• Income Producing
• Long Standing Tenants
• Central Location
• Rent - £32,300 pa with potential to increase income by letting vacant parts
• OIRO - £425,000

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.

Specifications

• Electricity (single phase)
• Gas
• Water
• Mains drainage
• Fire alarm
• Telephone
• Broadband
• Central heating

Terms

Passing rent of £33,200 pa with potential to increase income once offices are fully let. Offers in the region of £425,000 (Four Hundred & Twenty-Five Thousand).

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
BW Healthcafe Surveyors Ltd | £1,500 | 1 year from 3rd July 2020
Mr Saxby | £12,500 | 10 yr lease from 1st Sept 2019.
SMC | £8,000 | Holding over
Mrs Hill | £2,100 | Holding over
York Archaeology | £5,100 | Holding over
Total | £33,200 |  

Copies of tenancy agreements are available on request.
Offices on the ground floor are currently vacant and total 755 sq ft (70 sq m) as well as a first floor office. 

Tenure

The property is held on a 200 year lease from 25th March 1915.
Title Number - SYK416785