S3 36-40 Waingate, Sheffield

Mixed Use Investment in Sheffield City Centre producing £42,000 pa

The property comprises a substantial three storey building which includes a ground floor shop unit (with basement storage) and two upper floor two bed flats .

The shop is tenanted by an individual t/a 'Waingate Food & Wine.' The accommodation includes a ground floor sales area, rear kitchenette, WC and basement storage. The residential accommodation is accessed via a side front door which leads to an internal staircase for access to two well appointed flats. There are 2 x two bedroom flats to the upper floor; one to the first floor and one to second floor. The flat accommodation at both first floor and second floor includes a kitchen / lounge area, bedroom 1, bedroom 2 and bathroom (WC, wash basin, and shower). We are informed the utilities are split between the commercial and residential parts.

The property is offered for sale on a Long Leasehold basis subject to the current tenancies stated within these details. Long Leasehold, 200 years from 9th August 1928 - Title number SYK78251

The ground floor at 36 Waingate is let on the following basis:

Lease Dated: 1st July 2021 Tenant: Private individual (lease now assigned) Term: 7 years from 1st July 2021 Rent: £18,000 pa Tenant Repair Covenant: Effectively FRI

The two x 2 bed flats are let on assured shorthold tenancies (ASTs) let £1,000pcm for each flat. Producing a total income of £24,000 pa from the flats.

The total current approximate income is £42,000 pa. Further details are available by request.

Offers in excess of £400,000, subject to contract. We understand VAT is not payable on the purchase price.

The property fronts onto Waingate in Sheffield city centre, close to Bridge Street. The area is undergoing regeneration and is close in proximity to the retailing areas of Haymarket, High Street and Fargate. Castlegate is set to be transformed to include public open space, and accommodation for shops and businesses, education, community, hotels, and residential use, or for use as an amusement centre, car park, hostel, drinking establishment, and hot food takeaway. Notable occupiers nearby include Sheffield Magistrates Court, Snig Hill Police Station, Kommune and various other retail, leisure and office occupiers.