Prime Opportunity

Property Type
Availability	For Sale
Size	0.34 Acres
Price	offers by informal tender
Energy Performance Rating	Upon enquiry

Prime development opportunity on the gateway to Sheffield City Centre. For sale by way of tender process

Location

The property is bound by Tenter Street, Queen Street, West Bar and Silver Street and occupies a gateway site within the Cathedral Quarter. It is close to Kelham Island and the main retail and office centres. New riverside walkways and bridges link the site to these popular destinations.

Key Points

• Suitable for a range of Residential or Commercial uses (subject to necessary consents)
• A 70,654 sq. ft. building with a basement car park and 7 storey tower above
• Freehold Site Area 0.68 acres. Building footprint 0.34 acres
• Prominent gateway site within the Cathedral Quarter, close to Kelham Island and the main retail and office centres
• Potential for a significant mixed-use tower development, or conversion of the existing structure
• For sale with vacant possession
• Offers invited for the freehold (or a virtual freehold) interest

Available area

We are informed that the property comprises the following.

Floor/Unit	Description	Size
Ground	Site	0.34 Acres
Building	Parking	12,917 sq ft
Ground	Parking/Loading/Office	12,917 sq ft
1st	Office/Shell	12,917 sq ft
2nd	Office/Shell	12,917 sq ft
3rd	Office/Shell	2,713 sq ft
4th	Office/Shell	2,713 sq ft
5th	Office/Shell	2,713 sq ft
6th	Office/Shell	2,713 sq ft
7th	Office/Shell	2,713 sq ft
8th	Office/Shell	2,713 sq ft
9th	Office/Shell	2,713 sq ft
Ground	Total Building	70,654 sq ft

Description

Weston Tower comprises a substantial office building that has been vacant for a number of years.

The property sits on a site of circa 0.34 acres.

We believe that this presents an opportunity for either conversion of the existing building or a wholesale demolition and redevelopment.

Planning

We believe the site has potential for redevelopment with an opportunity for significant increase in the height and massing of the built form, subject to a quality design being at the heart. Urbana Town Planning have carried out a planning assessment from which we are led to believe a residential development will be acceptable.

The document is available to download - see download section.

The Sale

The opportunity is being offered by way of informal tender. Offers are invited on a subject to planning basis. However, unconditional offers may also be considered. Again, more details are available in the brochure.

Tenure/Proposals

Freehold registered under SYK637448.

Long leasehold registered under SYK300602.

Sheffield City Council own the freehold of the wider area as edged red, which includes part of the adjoining road, Westbar Green. The Council are interested in facilitating the development of the long vacant site and will work with the selected purchaser to reach agreement on a suitable new legal title arrangement.

The long lease interest held by Romiga West Limited, hatched blue, measures to 0.34 acres and is the minimum net developable area on offer. Following discussions with Sheffield City Council, we have agreed to front all offers regarding the freehold and long leasehold interests.

We are instructed to request bids for the freehold, or an effective freehold interest by way of a new long lease interest to be negotiated.
Interested parties are therefore encouraged to make their own assessment of the likely net developable area of the site assuming the existing ownership interests are merged.