Sheffield is England’s fifth largest city, third largest metropolitan centre and the main commercial, administrative and retailing centre in South Yorkshire. The city is located 150 miles (240 km) north of London, 38 miles (61 km) east of Manchester, 35 miles (56 km) south of Leeds and 22 miles (35 km) south west of Doncaster.

The city of Sheffield is strategically located close to the geographical centre of the UK. The city is served well by the national motorway network, with junctions 31 to 34 of the M1 Motorway on the eastern fringe of the city, approximately 4 miles (6.5 km) from the city centre. The M1 provides direct access to key towns: to the north (Leeds, Barnsley and Wakefield) and to the south (Nottingham, Milton Keynes and London). In addition, the M18 Motorway, accessed at Junction 32 of the M1, provides direct access to the Humberside Ports. Furthermore, the A57 and M67 provide access to Manchester, approximately 38 miles (61 km) to the west.

Sheffield railway station provides direct services to many UK cities with the following approximate fastest journey times: London St Pancras 122 mins, Leeds 40 mins and Manchester 51 mins. The city benefits from a light railway service, Supertram and local bus network, making the city one of the least congested in the United Kingdom.

Sheffield will also be one of the key stations on the HS2 Northern Extension which encompasses Leeds, Manchester and an East Midlands hub between Nottingham and Derby. Manchester, East Midlands and Leeds-Bradford airports are located 47 miles (76 km), 53 miles (85 km) and 45 miles (72 km) away respectively. All provide a range of national, European and international services.

Sheffield has a strong financial presence with companies such as McLaren, Jaywing, Boeing, Sky Betting and Gaming, all recently making significant investments into the city. There is also a large public sector presence within Departments of Education & Skills, Work & Pensions and the Home Office being strong representations.

The City is home to two distinguished universities; The University of Sheffield and Sheffield Hallam University, with a combined student population of 60,000.

Sheffield is a tourism hub with an estimated 20 million tourists visiting every year. Attractions include the surrounding countryside, the Peak District, Winter Gardens and The Crucible Theatre. The population as of 2016 was over 575,000 and the city is the third largest district authority. It is projected that by 2039 the population will grow to over 650,000. [Source: www.sheffield.gov.uk].

The property has been measured by BKR Floor Plans and provides the following accommodation:

A set of floor plans is available to download and will be re-addressed to a purchaser at a cost of £495 + VAT.

The property is fully let to Santander UK Plc, on a full repairing and insuring lease for a term of 5 years from 1st January 2021 at a passing rent of £158,000 per annum. The lease is subject to a break option at the end of the third year, subject to 6 months written notice. 

The tenant has been in occupation since 1993. The most recent lease renewal took place in January 2021. As part of the lease renewal the rent was rebased down from £375,000 per annum to £158,000 per annum. The new rent is 42% of the previous rent.

As part of the lease renewal, the tenant received an incentive of 3 months’ rent free and 6 months at 50% rent. The vendor will ‘top-up’ the income by an appropriate adjustment on the completion sum in order that a purchaser does not suffer an income shortfall.

Based on our analysis, the passing rent relfects a net effective Zone A rate of £88 per sq ft.  

The property has not been registered for VAT, therefor VAT will not be charged on the purchase price.

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