Stratus, Cross Bedford Street, Sheffield, S6

Guide price £3400000.00

• Rare opportunity to acquire a purpose built student accommodation block, occupying a highly
prominent position fronting onto Penistone Road (A61), approximately 1.5 miles north of the City Centre.
• The property benefits from excellent transport connections with frequent bus and tram services available
from Shalesmoor to the City Centre, Sheffield Rail Station and Meadowhall Shopping Centre.
• Sheffield is home to The University of Sheffield (part of the Russell Group) and Sheffield Hallam University
with a substantial full time population of more than 60,000.
• The University of Sheffield is ranked 20th and Sheffield Hallam University is ranked 82nd in the
Times Good University Guide.
• Built in 2012, this seven storey development comprises a total of 80 units, arranged as 66 en-suite pods
with shared kitchen areas, together with 7 self-contained two bed cluster apartments.
• Freehold.
• Current gross rent is £274,079 per annum, with rates ranging from £85.00 to £95.00 per week for the
en-suites rooms and £120.00 - £130.00 per week for the two bedroom apartments.
• There are currently 10 vacant en-suite rooms and one vacant 2 two bed apartment, providing the
opportunity to grow the income.
• We have been instructed to seek offers in excess of £3,400,000 (Three Million, Four Hundred Thousand
Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a gross yield of 8.06%
and a modest capital value per bed space of £42,500.

Sheffield is England's fourth largest city and the commercial, administrative and retail centre of South Yorkshire, with an urban area population of approximately 640,000 and an estimated catchment of 1.4 million. The city is located strategically located 33 miles (53 km) south of Leeds, 38 miles (61 km) east of Manchester and 150 miles (240 km) north of London, and benefits from its central location within the UK, adjacent to the M1 motorway.

The city enjoys excellent access to the national motorway network, with Junctions 31 to 35 of the M1 on the eastern fringe of the city, providing direct access to the north (Leeds, Barnsley and Wakefield) and south (Nottingham, Milton Keynes and London). In addition, the M18, accessed at Junction 32 of the M1, provides direct access to the Humber region, while the A57 and M67 provide access to Manchester.

Sheffield has benefitted from a growth in cultural and tourist attractions including The Millennium Gardens, The English Institute of Sport, Sheffield Arena, and more latterly the Olympic Legacy Park, which aims to establish a world leading centre of excellence for research and innovation in health and wellbeing and medical technology.

Also in the city centre, Sheffield City Council's £480m Heart of the City II transformation is set to complete by 2025, creating 1.5 million sq ft of new individually designed and repurposed buildings across 17 acres surrounded by enlivened streets and public space.

The Sheffield City Region (now known as the South Yorkshire Mayoral Combined Authority) has a young and dynamic workforce, with a working population of approximately 906,000. It has a strong skills base in manufacturing, IT, creative and digital industries, aviation, engineering and logistics, which is to be bolstered by the announcement of the new South Yorkshire Investment Zone, the first in the UK to be set up by the Government, creating an expected 8,000 new jobs and bringing £1.2bn of private investment to the region by 2030.