Block of flats for sale in Exchange Street, Sheffield S2
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Property features
- To be offered on Tuesday 24 September
- A freehold single collection
- Ground rent investment
- Subject to one overriding head lease
- Of 250 years having approx. 238 years unexpired
- Secured upon a student development of 25 self-contained studio units
- 10 yearly rent reviews - next review 2032
- Rents doubling for the first three reviews then rising by rpi
- Currently producing £8750 per annum
Property description
Strapline
Auction Sale - 24/09/2024
A freehold single collection rising ground rent investment subject to one overriding head lease of 250 years and secured up a student development of 25 studio units
Description
The property comprises a prominent corner building constructed over ground, first and second floors and arranged as 25 self-contained studio units.
Location
Alexandra House occupies a prominent corner position close to the south bank of the Don River and around half a mile to the north of Sheffield City centre. Sheffield University is within 15 minutes' walk to the west.
Transport
The A61 (Derek Dooley Way )is immediately to the north and connects to the M1 Motorway. The Sheffield Supertram service stops within five minutes' walk at Castle Square and provides access to the Meadowhall Shopping Centre, Sheffield Arena and the University. Sheffield Station is about half a mile to the south.
Tenancy
The property is subject to one overriding head lease for a term of 250 years (approx. 238 years unexpired) from 1 October 2012 at a current rent of £8750 per annum with 10 yearly rent reviews. On the 10th, 20th and 30th anniversaries, the rent doubles . It then increases in line with the Retail Price Index (rpi) every 10 years thereafter. The next review is in 2032
Accommodation
The property comprises 25 self-contained studio units.
For more information about this property, please contact
Savills - National Auctions, W1G on +44 20 8022 4160 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Savills - National Auctions, and do not constitute property particulars. Please contact Savills - National Auctions for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.
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