The Square, Sheffield_Property for Sale
The Square, Sheffield_Property for Sale
2 Broad Street West, Sheffield, South Yorkshire, S1 2BQ, UK

The Square, Sheffield

Asset Description

Grade A City Centre Office Investment For Sale

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Attributes

Asking price
A$12,478,000
Building area net
3,972 m²
Occupancy
83%
Year built
2008

Media

Investment Highlights

  • Grade A multi-let office building located in Sheffield City Centre, extending to 42,759 sq ft
  • The Square forms part of a prestigious office development prominently located at the head of the A57 Sheffield Parkway
  • Let to 2 tenants with a WAULT of 1.6 years to expiry and 1.25 years to break
  • 83% let with a very strong tenant line-up
  • Average rent of £18.50 psf representing significant discount to prime rent at £27.00 psf
  • Strong tenant line-up including First Customer Contact Limited and Sopra Banking Software Limited - both have a Creditsafe rating of Very Low Risk
  • The current passing rent of the property is £790,846 per annum equating to £18.50 psf
  • The property has a BREEAM rating 'Very Good'
  • Sheffield is the largest city in the South Yorkshire region
  • Long Leasehold
  • We are instructed to seek offers in excess of £6,500,000
  • This reflects an attractive Net Initial Yield of 11.40%, a Reversionary Yield of 12.33% assuming purchaser's costs at 6.64% and a low capital value of £152 psf

Contact brokers

The Square, Sheffield (0 Properties)

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Last updated
14 Mar 2024