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Sheffield – City Centre Multi-let Office Investment

City Point, Velocity Village, Solly Street, Sheffield, S1 4DF

Property Type:
Commercial
Sub Types:
Retail, Leisure

Income

£342,992pa

Description

  • Prominent multi-let office and leisure investment located in the heart of Sheffield city centre.
  • The property comprises modern office and gym accommodation extending 34,792 sq ft (3,232 sq m) NIA.
  • Let to five well-regarded tenants including; Anytime Fitness, DLP Planning, Brewster Pratap, Wakesmith Solicitors and Search Consultancy.
  • Total passing rent of £342,992 per annum (£11.96 psf overall).
  • Attractive WAULT of 7.64 years to expiry (2.53 years to breaks).
  • Numerous asset management opportunities.
  • The 1st and 2nd floors previously benefitted from planning consent for conversion to 30 residential apartments underpinning strong alternative use value.
  • Offers invited in excess of £2,850,000, subject to contract and exclusive of VAT. This reflects an attractive Net Initial Yield of 11.30% and a low Capital Value of £82 psf, assuming standard purchasers costs.