Mary Street, Sheffield
- BEDROOMS
33
- BATHROOMS
14
- SIZE
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Key features
- Fully let residential investment opportunity
- 33 beds arranged over 14 flats
- Offers in the region of £2,000,000
- Net rent of £165,000 per annum
- Potential reversionary rent of £187,000
- Net yield of 7.9%
- Located centrally in Sheffield
- For Sale
Description
14 Apartments providing 33 beds
Fully let residential investment opportunity located centrally in Sheffield
Sale Considerations - Converted steel mil providing a 33 bed residential accommodation investment opportunity over 14 flats comprised of 3 bed, 2 bed and 1 bed apartments
Arranged over first and second floor
The Long Leasehold interest is available for sale. 200 years from 29 September 1935.
Title number YWE27600
Offers in the region of £2,000,000 subject to contract
Fully let to students of Sheffield Halam University for the next academic year
Gross income of £216,814 per annum. Al inclusive rental costs are £51,480 per annum giving a net renal income of circa £165,000 per annum
A purchase at this level would reflect a Net Yield of 7.9% (assumingcommercial stamp duty of £89,500 - 4.48%)
The potential reversionary rental income is circa £187,200 per annum (subject to non inclusive rents calculate at prevailing market rent for 3 bed, 2 bed and 1 bed apartments in Sheffield)
The reversionary Net Yield is 8.95%
Location - The property is situated on Mary Street within Sheffield’s Cultural Industries Quarter, immediately to the south of Sheffield city centre. The surrounding area comprises a mix of converted former industrial buildings, residential accommodation, offices, creative studios and independent leisure occupiers, providing an established mixed-use urban environment.
Sheffield city centre provides a comprehensive range of retail, leisure and commercial amenities. Sheffield railway station is located nearby and offers direct services to London St Pancras International, Manchester, Leeds and Nottingham. (National Rail)
Description - Hawk Works comprises a converted former manufacturing plant of brick elevations with part pitched slate and part flat roofs. A feature building the property retains a lot of character from its original use.
The development offers stylish, high-quality apartments alongside a peaceful courtyard and two impressive roof gardens. The apartments are arranged over the first and second floors of the property with the other parts on ground floor falling within the demise of the asset disposed of on sub Long Leaseholds.
This spacious one-bedroom apartment features a sleek open-plan kitchen and lounge. The flats have all modern appliances and all aspects are compliant and up to regulation standard.
The entire property has been recently refurbished and decorated to a high standard keeping its condition competitive with comparable properties in the Sheffield private rented sector.
Additional Information - PRICE
Offers in the region of £2,000,000 subject to contract and exclusive of VAT if applicable
REVERSIONARY RENTAL
The property’s rental income has the potential to be increased to net £187,000 per annum through asset management opportunities.
EPC
EPC certificates available upon request
LEGAL COSTS
Each party is to be responsible for their own legal costs incurred in the transaction.
Brochures
Hawk Works, 101 Mary Street, Sheffield, S1 4RT.pdf- 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.
- Exempt
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Ask agent
- GARDENA property has access to an outdoor space, which could be private or shared.
- Yes
- 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
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Visit our security centre to find out moreDisclaimer - Property reference 34867602. 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 Pantera Property, Harrogate. 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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