The Bloomery Nile Street, Broomhill Sheffield South Yorkshire S10 2PQ

The Bloomery
Nile Street, Broomhill
Sheffield
South Yorkshire
S10 2PQ

Freehold Public House Investment

Prominent corner location in popular student neighbourhood
Let to Barley Pub Company Limited until 2099 (1)
VAT-free investment
RPI linked Rent Reviews every fifth year

Lot
61
Auction
11th July 2018
Rent
£22,680 per Annum Exclusive
Status
Sold
Price
£536,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of Executors

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Freehold Public House Investment

Prominent corner location in popular student neighbourhood
Let to Barley Pub Company Limited until 2099 (1)
VAT-free investment
RPI linked Rent Reviews every fifth year

Lot 61
Auction 11th July 2018
Rent £22,680 per Annum Exclusive
Status Sold
Price £536,000
Sector
Public House
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of Executors

Property Information

Location

Miles: 33 miles south of Leeds; 38 miles east of Manchester; 44 miles north of Nottingham
Roads: A57, A61, M1 (junction 33 & 34)
Rail: Sheffield Railway Station
Air: Rood Hood Doncaster/Sheffield Airport

Situation

The major university city of Sheffield is England’s fourth largest city in terms of population and is the principal retailing and commercial centre for South Yorkshire. The property is located in Broomhill, a prosperous mixed commercial/residential suburb, 1.5 miles south- west from Sheffield city centre. The main Sheffield University Campus, Sheffield Hallam Collegiate Campus and Royal Hallamshire Hospital are all located within 0.5 miles and Sheffield United football stadium is located 1.5 miles to the east. The property is situated on Nile Street, close to its junction with Fulwood Road (A57). The A57 connects Sheffield city centre with Manchester to the west. Occupiers close by include Costa Coffee, Morrisons, Sainsbury’s, Boots, Balti King and HSBC, amongst others.

Tenure

Freehold.

Location

Miles: 33 miles south of Leeds; 38 miles east of Manchester; 44 miles north of Nottingham
Roads: A57, A61, M1 (junction 33 & 34)
Rail: Sheffield Railway Station
Air: Rood Hood Doncaster/Sheffield Airport

Situation

Tenure

Freehold.

Description

The property comprises a public house arranged on ground and first floor. The ground floor comprises bar, restaurant and gaming area. The first floor has customer WCs and ancillary accommodation. There is on-site car parking for 4 cars.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Tenant	Term	Rent p.a.x	Reviews
Ground & First	Public House	BARLEY PUB COMPANY LIMITED t/a the Bloomery (2)& BUTLERS RETAIL LIMITED (1)	99 years from 23rd October 2000 on a full repairing and insuring lease (1)	£22,680 (2) (4)	RPI linked reviews 2020 and every 5th year thereafter (1) (3)
Total				£22,680

(1) Tenant’s option to determine in the 25th, 50th and 75th years.
(2) For the year ended 25th September 2016, Barley Pub Company Limited reported a turnover of £61,708,000, pre-tax profits of £1,578,000 and net total worth of £450,000 (Source Experian Group 8/06/2018). The property was refurbished in 2016 (Source : www.social- quirrel.com/thebloomery).
(3) The rent reviews are five yearly and linked to the Retail Price Index (RPI).
(4) Rateable value £44,000 (Source: www.tax.service.gov.uk).