Major City Centre location close to Sheffield Hallam University
Comprises Retail Unit and residential flats let on long leases
Rent Reviews linked to the Retail Price Index (RPI) subject to a minimum of 1.5% and a maximum of 3.5% per annum compounded
Prominently positioned in one of Sheffield's main retail areas
Nearby occupiers include B&M and Subway
Lot 35
Auction 7th November 2024
Rent £73,351 per Annum Exclusive
Status Available
Guide* £475,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
2 Miles South-East of Manchester, 30 Miles South of Leeds
Roads
M1, A57
Rail
Sheffield Railway Station
Air
Leeds Bradford Airport
Situation
The property is situated on the west side of the busy Haymarket in Sheffield City Centre less than a mile from Sheffield Railway Station. Nearby occupiers include CO-OP Food, B&M Store and KFC with Sheffield Hallam University in close proximity.
Tenure
Freehold.
Location
Miles
2 Miles South-East of Manchester, 30 Miles South of Leeds
Roads
M1, A57
Rail
Sheffield Railway Station
Air
Leeds Bradford Airport
Situation
The property is situated on the west side of the busy Haymarket in Sheffield City Centre less than a mile from Sheffield Railway Station. Nearby occupiers include CO-OP Food, B&M Store and KFC with Sheffield Hallam University in close proximity.
Tenure
Freehold.
Description
The property comprises retail and ancillary accommodation on the basement and ground floors. The upper floors have been let on a long lease. The property benefits from a rear service yard accessed from King Street. There is an electricity sub station at the property. (3)
VAT
VAT is applicable to this lot.
Note
The Special Conditions of Sale provide on COMPLETION for the BUYER shall pay to the SELLER in addition to the amount payable under CONDITION G6.2, the seller’s full legal fees in the sum of £2,500 inclusive of VAT.
EPC
See Legal Pack
Description
The property comprises retail and ancillary accommodation on the basement and ground floors. The upper floors have been let on a long lease. The property benefits from a rear service yard accessed from King Street. There is an electricity sub station at the property. (3)
VAT
VAT is applicable to this lot.
Note
The Special Conditions of Sale provide on COMPLETION for the BUYER shall pay to the SELLER in addition to the amount payable under CONDITION G6.2, the seller’s full legal fees in the sum of £2,500 inclusive of VAT.
EPC
See Legal Pack
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground Basement
Retail Ancillary
206.40 74.80
(2,222) (805)
HERON FOODS LIMITED (CRN 01392197) (2)
19 years from 06/08/2013 until 2032
£73,351.00
06/08/2028 linked to RPI (5/8/2032) (4)
First Second Third
Accommodation
Not Measured
Not Measured
XTREME PROPERTIES (UK) LTD (CRN 06596238)
150 years from 04/03/2010
Peppercorn
Total Approximate Floor Area
281.20
(3,027) (1)
£73,315.00
(1) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk). (2) Heron Food Ltd currently operate from 250 shops throughout the North and Midlands (www.Heronfoods.com) In the year ending 26th March 2022 Heron Foods Limited (CRN 01392197) reported a pre tax profit of £10,773,000 and Net Assets of £73,286,000. (Company report 26th March 2022 Companies House 24/11/2022) (3) A very small part of the rear of the property upon which is an electricity substation and a bin store is held from Sheffield City Council for a term of 99 years from 25th July 1959 at a current rent reserved of £30 per annum. (4) The lease provides for the rent to be increased in line with the Retail Price Index (RPI) every 5 years subject to a minimum of 1.5% per annum compounded and a maximum of 3.5% per annum compounded.
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.
