292 Ringinglow Road

Sheffield, South Yorkshire, S11 7PX

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Under offer
Property Type Investment
Availability For Sale
Size 0 to 614 sq ft
Freehold Price £120,000
Business Rates (based on rateable value of £5,400)
Energy Performance Rating Upon enquiry

GROUND FLOOR RETAIL INVESTMENT

Location

This is a busy small local centre, and a butchers business has been established in this location for very many years.

Bents Green is a very popular residential area, and the centre benefits from a good degree of local trade, including at lunch times bearing in mind the proximity of well regarded schools.

Key Points

  • Established tenant
  • Tenant willing to sign a new lease
  • Rental income of £10,000 per annum
  • Net initial yield of just under 8%

Description

This is an established butchers shop with ancillary accommodation, occupying the ground floor of a mid parade building. The upper floor flat is in a separate ownership.

Accommodation

Ground Floor - 614 sq ft (57 sq m)

Tenure

Long leasehold, 800 years from 29th December 1930.

Lease Details

The current tenant has bene in occupation for many years, and is holding over on a effective full repairing and insuring lease at a rental of £10,000 per annum. The tenant has indicated a willingness to sign a new six year lease at the same rent.

Price Required

£120,000. This represents a net initial yield of a little under 8%.