42/52 Chapel Walk Sheffield South Yorkshire S1 2PD

42/52 Chapel Walk
Sheffield
South Yorkshire
S1 2PD

High Yielding Leasehold Parade Investment

Comprises parade of 6 shops
All shops let or renewed in 2021, 2022 and 2023
Tenants include a Vietnamese supermarket, a nail and spa salon, a games shop and a snooker memorabilia shop
Popular pedestrianised thoroughfare opposite Crucible Theatre benefitting from increased footfall from large Marks & Spencer Food Hall
Other nearby occupiers include H&M, Superdrug, WHSmith, Caffé Nero, Boots the Chemist, McDonalds and a Tesco Express
VAT free investment

Lot
36
Auction
30th March 2023
Rent
Gross: £120,250 per Annum
Net: £43,103
per Annum
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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High Yielding Leasehold Parade Investment

Comprises parade of 6 shops
All shops let or renewed in 2021, 2022 and 2023
Tenants include a Vietnamese supermarket, a nail and spa salon, a games shop and a snooker memorabilia shop
Popular pedestrianised thoroughfare opposite Crucible Theatre benefitting from increased footfall from large Marks & Spencer Food Hall
Other nearby occupiers include H&M, Superdrug, WHSmith, Caffé Nero, Boots the Chemist, McDonalds and a Tesco Express
VAT free investment

Lot 36
Auction 30th March 2023
Rent Gross: £120,250 per Annum Net: £43,103 per Annum
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 33 miles south of Leeds, 38 miles east of Manchester
Roads: A57, A61, A631, M1
Rail: Sheffield Railway Station
Air: Sheffield Robin Hood Airport, Manchester International Airport

Situation

The property is situated on Chapel Walk between the eastern side of the prime pedestrianised retail thoroughfare of Fargate and the west side of Norfolk Street, opposite the Crucible Theatre. The area benefits from a large Marks & Spencer Food Hall exiting onto Chapel Walk, vastly increasing pedestrian footfall. Other nearby occupiers include H&M, Superdrug, WHSmith, Caffé Nero, Boots the Chemist, McDonalds and a Tesco Express.

Tenure

Leasehold. Held for a term The Yorkshire Congregational Union (incorporated) for a term of 150 years from 23/02/1971 (98 years unexpired) at a current ground rent of £77,147.34 per annum, reviewable every 14 years.

Location

Miles: 33 miles south of Leeds, 38 miles east of Manchester
Roads: A57, A61, A631, M1
Rail: Sheffield Railway Station
Air: Sheffield Robin Hood Airport, Manchester International Airport

Situation

Tenure

Description

The property comprises six shops each comprising retail accommodation arranged on the ground floor only. The property forms part of a larger building, the remainder of which is not included in the sale.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Tenancy & Accommodation

Unit	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.
42	Retail/Ancillary	144.40	(1,554)	ELEMENT GAMES LTD (t/a Element Games) (1)	12 years from 02/09/2021 (1)	£24,250 rising to £27,250 by September 2026
44	Retail/Ancillary	109.70	(1,181)	AN INDIVIDUAL (t/a Bird's Yard Gift Shop) (2)	5 years from 02/09/2021	£16,000
46	Retail/Ancillary	108.85	(1,172)	RONNIE O'SULLIVAN SHOP LIMITED (3)	6 months from 03/02/2023 at £1,500 pcm (3)	£18,000
48	Retail/Ancillary	106.00	(1,141)	DUC MINH PHAT LIMITED with Guarantee (t/a Duc Minh Phat Vietnamese Supermarket)	6 years from 01/05/2022 (4)	£22,000 rising to £24,000 in May 2023
50	Retail/Ancillary	109.50	(1,179)	CAMILLA ANH TRANS NAILS LIMITED with Guarantee (t/a Camilla Luxe Nails & Spa) (5)	6 years from 01/06/2021	£22,000 rising to £24,000 in June 2023 rising to £25,000 in June 2025
52	Retail/Ancillary	93.90	(1,011)	AIRWAIR INTERNATIONAL LIMITED (t/a Dr Martens) (6)	6 months from 01/02/2023 (6) at £1,500 pcm	£18,000 (6)
Total		672.35	(7,238)			£120,250 rising to £126,250 by August 2023

(1) www.elementgames.co.uk - The lease is subject to a tenant only option to determine on 02/09/2024 and 3 yearly thereafter.
(2) www.birdsyard.co.uk
(3) The tenant is currently shopfitting and will be selling Snooker memorabillia. The tenant already trades from another shop in Meadowhall Centre, Sheffield (www.ronnieosullivanshop.com). The lease is subject to a tenant only option to determine on 01/05/2023.
(4) The lease is subject to a tenant only option to determine on 01/05/2026.
(5) www.camillaluxenailsspa.setmore.com
(6) Dr Martens have served notice to vacate the property. A new letting has completed to Ocean Homeland Limited (t/a Iwan Bubble Tea) for a term of 6 years from 01/08/2023 (no breaks) at a new rent of £20,000 p.a.

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.