Savile Business Park, Attercliffe Road, Sheffield S4 7WW_Property for Sale

101 Attercliffe Road, Sheffield, S4 7WW, UK

Savile Business Park, Attercliffe Road, Sheffield S4 7WW

Description

The property comprises a highly prominent fully let industrial / trade counter scheme extending to a total Gross Internal Area (GIA) of 37,839 sq ft, currently divided into 6 units. The units, located on an island site that extends to a gross site area of 3.17 acres benefits from above average parking and yard provision in addition to a large (0.5 acre) communal car park which has scope for future development (subject to necessary planning consents).

The site is strategically positioned between two arterial routes into Sheffield, Savile Street (A6109) to the north an Attercliffe Road (A6178) to the south, benefitting from outstanding prominence and visibility in an area of substantial traffic flow. The property is positioned approximately 1 mile to the north east of Sheffield City Centre and 2.5 miles south west of Junction 34 of the M1 motorway.

The property is held under a 999-year Long Leasehold (effective Freehold), with the option to purchase the Freehold in 2030 for £1.00.

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Attributes

Building area net

37,402 sf

Occupancy

100%

WAULT to expiries

7.1 years

WAULT to breaks

3.1 years

Media

Investment highlights

Current passing rent £300,700 per annum equating a low rate of just £8.04 per sq ft

WAULT of 7.1 years to expiries and 3.1 years to breaks

Significant scope for reversion in the short term with upcoming lease events across all tenancies within the next 18 months

Strong tenant lineup, including Screwfix & Halfords Autocentres

We are instructed to seek offers in excess of £4,700,000 (Four Million Seven Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level equates to a net initial yield of 6.00%, assuming standard purchaser's costs of 6.58%