Substantial Retail & Residential Property located in Hillsborough Centre SOLD

Key Points

• Shop with a potential income once let at approximately £15,000 per annum
• Two residential flats above with potential combined income of £11,220 pa
• Located in a very busy shopping area in the centre of Hillsborough
• Potential for total income of £26,220 pa if fully let
• Potential for owner occupation of the shop (and one of the flats)

Description

The property is a three storey inner terrace building of traditional construction. The property is comprised of separarte commercial and residential parts.

The commercial part includes a ground floor shop with double frontage providing excellent visibility. There is also basement storage, kitchen and WC facilities on the ground floor.

There are two flats located on the upper floors which can be accessed via a rear external staircase. This includes one 2 bed and one 3 bed flat.

Location

The subject property is located on Langsett Road in the suburb of Hillsborough which is approximately 3 miles North of Sheffield City Centre. Langsett Road and Middlewood Road provide a good local shopping centre for the surrounding residential area. Occupiers within the area include Costa Coffee, Wetherspoon, Fellas hairdressing, South Yorkshire PTE, Morrisons and Subway. In addition to this there are also various local traders, bars, restaurants and take way outlets in the area.

Accommodation

The shop provides the following approximate net internal areas:
Ground Floor Sales: 84 sq m (904 sq ft)
Kitchen 6 sq m (54 sq ft)
WC
Basement Store: 56 sq m (603 sq ft)

At first and second floors there is one two bedroom flat and one three bedroom flat. The two bedroom flat comprises of a bathroom, WC, kitchen and lounge at first floor level and two bedrooms at second floor level. The three bedroom flat comprises of bathroom, WC, bedroom, and open plan lounge/kitchen at first floor level and two bedrooms at second floor level. Both flats are accessed via a rear external staircase and separate from the commercial part of the property.

Tenure

Long Leasehold, 800 years from 29th September 1896 - Title number SYK408083

Tenancy Information

Investment with the premises being let as follows:
1.) Ground Floor and basement shop is current vacant (suitable for owner occupation or to let as an investment)
2.) The two bedroom flat is currently vacant (suitable for owner occupation or to let as an investment)
3.) The three bedroom flat is let at £475pcm on an AST.

Prices

Offers in the region of £280,000 for the long leasehold interest. We are informed VAT is not payable on the purchase price or the rent.