32-38 Bank Street

Sheffield, S1 2DS

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32-38 Bank Street, Sheffield, Investment / Offices / Other For Sale - 36ALivingRoom.JPG
32-38 Bank Street, Sheffield, Investment / Offices / Other For Sale - 36A_Kitchen.JPG
32-38 Bank Street, Sheffield, Investment / Offices / Other For Sale - 36B_Kitchen.JPG
32-38 Bank Street, Sheffield, Investment / Offices / Other For Sale - 36BLivingRoom.JPG
32-38 Bank Street, Sheffield, Investment / Offices / Other For Sale - image.jpeg
32-38 Bank Street, Sheffield, Investment / Offices / Other For Sale - IMG_3101.jpeg
32-38 Bank Street, Sheffield, Investment / Offices / Other For Sale - IMG_3102.jpeg
Unique City Centre Investment
Property Type Investment / Offices / Other
Tenure For Sale
Size 4,715 sq ft
Price Offers from £810,000.00
Business Rates Upon Enquiry
Energy Performance Rating Upon enquiry

Unique contemporarily refurbished Georgian city centre property available to buy, including 2 apartments and renovation/refurb opportunity

Key Points

  • Attractive Georgian building
  • 2 upper floor apartments with ground floor studios & space offering refurbishment/renovation opportunity
  • Cathedral Quarter/Sheffield business district location
  • Income producing: ideal for investor/developer
  • Available as a whole only

Available area

The spaces within the property comprise the following:

Floor/Unit Description Building Type sq ft
Building 32-34 Bank Street Commercial Development 2,204
Building 36-38 Bank Street Office 671
Building 36-38 Bank Street Residential 1,840
Total 4,715

Location

The property is located in the Cathedral Quarter in Sheffield city centre. The Cathedral Quarter has witnessed a renaissance in recent years with a number of substantial buildings being converted into private residences. The property is a stone's throw from Fargate and thus enjoys fantastic transport links in terms of tram and bus stops. There is also on street and multi-storey car parking immediately nearby.

Description

The premises were formerly used by Bank Street Arts, providing a mix of small studios, galleries, offices and workshops arranged around 2 courtyards. The property has been sensitively refurbished to a high contemporary standard to provide:
- 2 upper floor apartments with 4 ground floor studios and basement storage area ("36-38 Bank Street")
- a refurbishment/renovation opportunity (with planning permission for residential conversion) ("32-34 Bank Street")

1. 32-34 Bank Street

The property is located to the rear of 36-38 Bank Street. With the benefit of planning permission for residential conversion, it is ready for refurbishment or conversion into apartments, offices or studios. This affords the purchaser the opportunity to maximise value.
The property is currently split into a basement, 3 studios at ground and a further 4 studios at first floor. It also enjoys access to the shared internal courtyard.

2. 36-38 Bank Street

The property comprises a 3 storey listed building fronting Bank Street. Sympathetically refurbished, it comprises 4 fully let, income producing studios at ground floor, with 2 self-contained 3-bedroom apartments on the first and second floors. These are let out via AirBNB and are currently letting well. There is also a basement area currently used for storage.
Accessed from Bank Street, the refurbishment work is of quality with each apartment having it's own distinct modern style.

Income

36-38 Bank Street are currently let.
The ground floor studios are let on licenses and the 2 apartments are let out via AirBNB/Booking.com
Below is a summary of the total income from the 3 elements.