483 - 493 Glossop Road Sheffield South Yorkshire S10 2QE

483 - 493 Glossop Road
Sheffield
South Yorkshire
S10 2QE

Freehold Retail & Residential Investment

Prominent corner location
Unbroken parade in popular student neighbourhood
Comprises three shops, one triple fronted shop and five flats
In the same ownership for circa 50 years
Potential dilapidation/reinstatement claim (1)
VAT free investment

Lot
42
Auction
14th February 2019
Rent
£104,050 per Annum Exclusive
Status
Sold
Price
£910,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail & Residential Investment

Prominent corner location
Unbroken parade in popular student neighbourhood
Comprises three shops, one triple fronted shop and five flats
In the same ownership for circa 50 years
Potential dilapidation/reinstatement claim (1)
VAT free investment

Lot 42
Auction 14th February 2019
Rent £104,050 per Annum Exclusive
Status Sold
Price £910,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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 of 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 Glossop Road at its junction with Ashgate Road, close to 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 an unbroken parade of four ground floor retail units, one of which is a triple fronted unit (Lloyds Bank, not in occupation). The upper floors comprise five self-contained flats, four accessed from Ashgate Road and one from Glossop Road. Four flats comprise three rooms, kitchen and bathroom with No. 487/491 comprising six rooms, kitchen and bathroom. There is a rear yard used for car parking.

VAT

VAT is not applicable to this lot.

EPC

Available from the legal pack at acuitus.co.uk.

Description

VAT

VAT is not applicable to this lot.

EPC

Available from the legal pack at acuitus.co.uk.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
483	Ground	Retail	36.8 sq m	(397 sq ft)	INDIVIDUAL t/a Frilly & Gifts	6 years from 01/04/2015	£10,500	2018
483a	First Second	Residential Residential	3 rooms, kitchen & bathroom		INDIVIDUALS	AST expiring 30/06/2019 (2)	£9,360	(2019) (2)
485	Ground Basement	Retail Not inspected	33.6 sq m	(362 sq ft)	INDIVIDUALS	5 years from 14/01/2019	£9,250 (4)	(2024)
485a	First Second	Residential Residential	3 rooms, kitchen & bathroom		INDIVIDUALS	AST expiring 30/07/2019	£9,360	(2019)
487 - 491	Ground Basement	Retail Ancillary	99.7 sq m 80.4 sq m	(1,073 sq ft) (865 sq ft)	LLOYDS BANK PLC (not in occupation) (1)	Term of years expiring 26/03/2024 (1)	£28,000
487a- 491a	First Second	Residential Residential	3 rooms, kitchen & bathroom 4 rooms		VACANT
487a	First Second	Residential Residential	3 rooms, kitchen & bathroom		INDIVIDUALS	AST expiring 30/06/2019	£14,040	(2019)
493	Ground	Retail	41 sq m	(441 sq ft)	INDIVIDUALS t/a Galaxy 4	6 years from 05/04/2014	£9,500	(2020)
493a	First Second	Residential Residential	3 rooms, kitchen and bathroom		INDIVIDUALS	AST expiring 30/06/2019 (3)	£14,040	(2019) (3)
Total Commercial			291.5 sq m	(3,138 sq ft) and 5 flats			£104,050 (4)

(1) March 2019 break option exercised. Potential dilapidation and reinstatement claim for which the Vendor has taken no action.
(2) AST agreement signed for 1 year for 2019 to 2020 at £9,576.
(3) AST agreement signed for 1 year for 2019 to 2020 at £14,040.
(4) Rent free period until 14/03/2019.