Opportunity to acquire income producing commercial units at iconic Park Hill

Key Points

• Unique investment opportunity
• Income producing at an annual rent of £22,124
• Part of Phase 2 of the highly regarded Park Hill regeneration
• Let on a 5 yr lease from 12 October 2024
• Ideal for private investor
• Access provided from South Street

Description

Unit 6&7 are situated on the ground floor of Phase 2. Neighbouring occupiers on this strip of units include Nine Lives Barbers, La Cave and The Pearl. The tenant (www.heroofhealth.com) are currently fitting out and will be open and trading in the near future.

Available area

The property provides the following:

Location

Park Hill is like no other place. Iconic is an overused term, but it really does apply to Park Hill. Completed in 1961, the Grade II* Listed Park Hill (the largest Listed structure in Europe) is a landmark on the Sheffield skyline atop one of the city's seven hills. With the tram and train within a matter of minutes walk, it offers superb connectivity to public transport. Furthermore, a pay and display car park behind Park Hill offers parking for any staff and customers. Park Square Roundabout is just down the hill providing onward access to The Parkway and M1.

Tenancy

The property is let on an equivalent full repairing and insuring lease to Hero of Health Ltd for a term of 5 years, commencing on 12 October 2024, at an annual rent of £22,124 pax. A copy of the lease is available on request.
The property is held by way of a 250 year ground lease at a rent passing of 50p psf pa.
Copies of all the above documents are available on request.

Tenure

The property is available to purchase by way of long leasehold interest at a price of £240,000 plus VAT.