A fantastic opportunity has arisen to buy a landmark multi-let office building totalling 56,984 sq ft (5,294 sq m). Key features to note include the following:
- Situation: in a prime location within the Sheffield City Centre, with excellent public transport links.
- Rental growth potential: average passing rent on the occupied office space is just £11.22 psf, offering unrivalled rental growth potential.
- Vacancy: just 5,310 sq ft (493 sq m).
- Rental: current contracted gross rental income is £595,976 per annum (£674,376 with 12 months’ rent guarantee on the vacant space at £15.00 psf).
colloco are instructed to seek offers in excess of £6,700,000 (Six Million Seven Hundred Thousand Pounds), subject to contract and exclusive of VAT. Allowing for usual purchaser’s costs of 6.64%, this reflects an attractive net initial yield of 9.44% (with 12 month rent guarantees on the vacant space) and a modest capital value of £118 psf.
Take a look at the brochure on our website for further details:
https://colloco.co/find-a-property/properties/959-st-james-house-investment-opportunity-sheffield
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