Property Information
Address:
Regent House, 6 Queens Road, Sheffield
, S2 4DG
Price: Property no longer available.
Size: 2690 sq ft250 sqm
Primary Category: Investment
All Categories:
Investment, Land,
Property Ref/Movehut: MH352622
Property Ref/Agent: 564
*Please use the agent ref when calling the agent directly.
Property description
REQUEST FOR BEST AND FINAL OFFERS - 17:30PM Friday 28th October 2016 - SUBJECT TO CONTRACT
Offers must be submitted in writing or by email to either Martin Saunders or Francois Neyerlin by no later than 17:30 pm on Friday 28th October 2016.
The main building is a 2/3 three-storey detached property, probably originally built as a house, but used for many years as offices. It is constructed in stone with a tiled roof, most of the ground floor and the car parking/display area is occupied by the main tenant, Enterprise Rent a Car, who have occupied the site for over 18 years and are classed as 'very low risk' by Experian.
The other major tenant has occupied the vehicle repair workshop for over 12 years.
The upper floors of the main building are currently vacant, but have previously been let and produced £8,400pa.
We have been advised that the property is Freehold, but have not had sight of the Deeds.
The property is subject to two leases as follows:
a) Ground Floor offices and external car park/display -
Let to Enterprise Rent a Car on formal lease expiring 21st December 2018, at £39,600pa. Enterprise have occupied this site for over 18 years renewing the lease every five years. The tenant is responsible for keeping the whole of the premises in good condition, the landlord is responsible for the main structure and the roof. Within the L & T Act.
b)
Workshop and rear ground floor office - Let to David Watson (T/A Regent House Motors) on formal lease expiring October 2018, at £12,220pa. Excludes L & T Act. Regent House Motors have occupied this site for over 12 years, renewing the lease every five years.
c) Upper floors vacant.
Full rental details available on request.
REQUEST FOR BEST AND FINAL OFFERS - 17:30PM Friday 28th October 2016 - SUBJECT TO CONTRACT
Current rental income £51,820 per annum
EFRV over £60,000pa
Major tenants long established in this location
High profile position at the Junction of Queens Road with Duchess Road, a short distance from the City Centre
Long term development potential
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