Garages, Crookesmoor Road, Sheffield S10 1BJ

LOCATION
The subject site is located within the popular Crookesmoor area in one of Sheffield’s most vibrant and sought-after neighbourhoods. On street parking in the area is both limited and controlled.

The site is within easy walking distance of the main campus of the University of Sheffield, making it an ideal location for those studying or working at the university.

The site also benefits from excellent transport links into Sheffield city centre, with regular bus routes and pleasant walking or cycling routes connecting Crookesmoor to the wider city.

DESCRIPTION
The site is split level and broadly rectangular in shape sloping away from the vehicular access to Crookesmoor Road.

The site comprise a purpose built court and benefits from 33 single/double garages on a site of approximately 0.38 acres.

ACCOMMODATION (All areas being approximate)
Site Area 0.38 acres 0.15 ha

TENANCIES
The garages are fully let on licence agreements currently producing £54,840 per annum. Please note there is a waiting list for vacant units.

PRICE
£375,000 representing a gross yield of 14.6%.

TENURE
The site is held leasehold under title number SYK676761 for the residue of a 99 year lease from 25th December 1961 at a fixed annual ground rent of £108pa.

Please note the freehold is unavailable as is an extension to the current lease.

MONEY LAUNDERING
To comply with Money Laundering Regulations, purchasers will be required to provide identification documentation together with confirmation of the source of funding. Further details on request.

LEGAL COSTS
Each party are to be responsible for the payment of their own legal fees in connection with this transaction.