Yew Lane, Sheffield, South Yorkshire
- SIZE
4,341 sq ft
403 sq m
- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
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Key features
- New 30 year lease
- RPI rent reviews every 5 years
- Let to an established care operator
- Planning consent granted
Description
Formerly operating as The Players Lounge, a private club and leisure venue (recently demolished), the site is now has planning consent (Ref:23/01850/Ful) for redevelopment into a single-storey care home (Use Class C2) comprising:
6 high-quality residential apartments
A communal lounge, staff offices & training room
Ancillary amenity and parking areas
The property will be let to Bespoke Care & Support Limited at £176,000 per annum on a new 30-year lease with RPI rent reviews every 5 years (with no cap or collar) and no lease break (example lease available on request).
COVENANT
Bespoke Care & Support Limited, are a care company specialising in Transformative Care for over 18-year-olds who have severe learning disabilities or personality disorders. They have been trading since 2019. Thelma Turner is the CEO who has vast experience in this sector and in the 1990s she was CEO of a company which had 28 homes. The average fee per resident in the existing two homes is around £8,500 per week.
The company shows a profit before tax of £831,000 in the last set of accounts (2024) on a turnover of £5.4m (P&L for 2024 and 2023 available on request).
PRICE
We are insructed to receive offers in the region of £2,500,000 (TWO MILLION FIVE HUNDRED THOUSAND POUNDS) an offer at this level reflects a Net Initial Yield of 6.64% (after pruchasers costs of 6.08%).
AML
In accordance with the Money Laundering Regulations prospective purchasers will be asked to produce identification of the intended purchaser and other documentation to support any offers submitted to the vendors.
Brochures
Brochure- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Private
- GARDENA property has access to an outdoor space, which could be private or shared.
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- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Energy performance certificate - ask agent
Yew Lane, Sheffield, South Yorkshire
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Visit our security centre to find out moreDisclaimer - Property reference 7951FH. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Barnsdales Ltd - Commercial, Doncaster. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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