Commercial property for sale in 11 Marlborough Road, Sheffield, South Yorkshire S10

Location

Sheffield boasts a thriving student population of over 60,000, creating a robust demand for rental properties. Despite rising rental prices, the city remains relatively affordable compared to other UK student hubs.

With a shortage of high quality private rented accommodation and increasing competition for properties, presents a compelling investment opportunity for landlords seeking strong rental growth

The subject property is in a prime location, adjacent to 4 local hospitals and surrounded by prominent University of Sheffield buildings. The property is immediately adjacent to the brand new University of Sheffield "Wavw" building costing £65m.

Description

11 Marlborough Road comprises 14 recently refurbished apartments within a period building benefiting from modern extension. The refurbishment of the building was completed in 2021.

Each of the 14 apartments benefits from its own kitchen, wc and utility supplies. The building has been developed to an impeccably high standard with apartments targeting working professionals and students. The building is attractive to tenants due to its unbeaten locations adjacent to University buildings and Sheffield Hospitals.

Total rental income of £181,280 per annum.

There is potential for individual sales of units, with prices in the area ranging between £175,000 - £200,000 per unit for 1 bed apartments and prices for 2 bed apartments ranging between £250 - £275,000 per unit.

Terms

Quoting price £2,800,000 reflects a Net initial Yield of 6.08%, Allowing for purchaser costs of 6.43%