Albion House, Savile Street, Sheffield
43,227 sq ft
Description
• Prominent office building of interest to investors, developers and owner occupiers.
• Situated in Sheffield, the fifth largest commercial centre outside of London.
• 43,227 sq ft together with 80 on site secure car parking spaces.
• Recent letting to ‘My Dentist‘ who we understand have spent circa £1 million fitting out the space creating a high-quality dental surgery.
• Currently produces a gross rent of £203,590 per annum with ERV of £326,971 per annum.
• Let to four excellent tenants, Learn Sheffield, Baby Basics, Autism Plus and Whitecross Dental Limited with lease terms 5-15 years.
• Low competitive rents at a major discount to the prime rents within the city centre of only £7.50 – £8.00 sq ft.
• Alternative use potential subject to obtaining the relevant planning permission.
We are seeking offers in the region of £1,750,000 (One Million Seven Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT. The above price reflects net of costs at 6.2% the following profile.
• £40/ Sq Ft Capital value
• 10.95% Initial yield
• 17.5% Revisionary yield
• Situated in Sheffield, the fifth largest commercial centre outside of London.
• 43,227 sq ft together with 80 on site secure car parking spaces.
• Recent letting to ‘My Dentist‘ who we understand have spent circa £1 million fitting out the space creating a high-quality dental surgery.
• Currently produces a gross rent of £203,590 per annum with ERV of £326,971 per annum.
• Let to four excellent tenants, Learn Sheffield, Baby Basics, Autism Plus and Whitecross Dental Limited with lease terms 5-15 years.
• Low competitive rents at a major discount to the prime rents within the city centre of only £7.50 – £8.00 sq ft.
• Alternative use potential subject to obtaining the relevant planning permission.
We are seeking offers in the region of £1,750,000 (One Million Seven Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT. The above price reflects net of costs at 6.2% the following profile.
• £40/ Sq Ft Capital value
• 10.95% Initial yield
• 17.5% Revisionary yield
BUILDING HIGHLIGHTS
Prominent office building.
43,227 sq ft.
Let to four excellent tenants.
Gross rent fo £163,090 per annum.
