Let to tenants including The Co-Operative Bank Plc, Skipton Building Society and Toni&Guy
Includes new letting in February 2020 to Skipton Building Society
September 2020 (Toni&Guy) and July 2021 (Co-Op Bank) break options recently removed
Prominent position in heart of Sheffield City Centre's "Redevelopment Quarter" (Heart of the City II)
Nearby occupiers include John Lewis, Browns, Caffe Nero, Bill's & JD Sports, and adjacent to the proposed Radisson Blu Hotel
Lot 12
Auction 23rd September 2020
Rent £186,030 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
On Behalf of a Major Fund
Property Information
Location
Miles
37 miles south of Leeds
38 miles east of Manchester
Roads
A61, M1
Rail
Sheffield
Air
Doncaster Sheffield Airport
Situation
The property is situated on the west side of Pinstone Street, in a prominent location opposite Peace Gardens, a central and popular open public space in the heart of Sheffield City Centre, which hosts farmers markets, food festivals and winter gardens. Nearby retailers include John Lewis (100 metres to the west) Browns, Caffe Nero, Bill's & JD Sports.
Tenure
Freehold.
Location
Miles
37 miles south of Leeds
38 miles east of Manchester
Roads
A61, M1
Rail
Sheffield
Air
Doncaster Sheffield Airport
Situation
The property is situated on the west side of Pinstone Street, in a prominent location opposite Peace Gardens, a central and popular open public space in the heart of Sheffield City Centre, which hosts farmers markets, food festivals and winter gardens. Nearby retailers include John Lewis (100 metres to the west) Browns, Caffe Nero, Bill's & JD Sports.
Tenure
Freehold.
Description
The property comprises three well configured retail units, situated over ground floor and basement. The units have all been recently re-fitted. The upper floors have been let on a long lease.
VAT
VAT is applicable to this lot.
EPC
Available from the legal pack at www.acuitus.co.uk.
Description
The property comprises three well configured retail units, situated over ground floor and basement. The units have all been recently re-fitted. The upper floors have been let on a long lease.
VAT
VAT is applicable to this lot.
EPC
Available from the legal pack at www.acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Ground Basement
Banking Hall Ancillary
155.70 sq m 75.07 sq m
(1,676 sq ft) (808 sq ft)
THE CO-OPERATIVE BANK PLC (1)
10 years from 20/07/2016
£80,000
20/07/2021
Ground Basement
Retail Ancillary
61.13 sq m 45.43 sq m
(658 sq ft) (489 sq ft)
TONI & GUY NORTH LIMITED (2) t/a Toni&Guy
10 years from 07/09/2015 (2)
£33,000
07/09/2020
Ground Basement
Retail Ancillary
147.53 sq m 113.53 sq m
(1,588 sq ft) (1,222 sq ft)
SKIPTON BUILDING SOCIETY (3)
10 years from 11/02/2020 until 10/02/2030 (4)
£72,500
11/02/2025
Part Ground to Fourth
Residential
-
(-)
ELMDON REAL ESTATE
150 years from 01/08/2003
Peppercorn
-
Substation
-
-
(-)
NORTHERNPOWER
20 years from 29/09/2002
£530
-
Total
598.39 sq m
(6,441 sq ft)
£186,030
(1) Co-Operative Bank Plc was originally founded in November 1872 and now operates from over 60 branches throughout the UK (www.co-operativebank.co.uk). The July 2021 tenant break option was recently removed in return for a rent free period which has now expired. (2) TONI&GUY was founded in 1963 and now operates from more than 475 salons across 48 countries (www.toniandguy.com). The September 2020 tenant break option was recently removed in return for a rent free period which expires in March 2021. The Vendor has agreed to adjust the completion monies so that the lease will effectively produce £33,000 pa from completion. (3) Skipton Building Society was founded in 1853 and now operates from over 100 branches throughout the UK (www.skipton.co.uk). (4) The lease is subject to a tenant option to determine on 11/02/2025.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
