Wesley House, Highfield Place, Sheffield, S2 4UR

Fully let residential investment opportunity located in Sheffield. 3 Apartments providing 23 beds Freehold for sale

Sale Considerations - Stunning period building providing a 23 bed residential accommodation investment opportunity over 3 flats.

Arranged over basement, ground and first floor

Situated in a very popular area near Abbeydale road which has a varied and vibrant retail, leisure and hospitality offering

The Freehold interest is available for sale.

Title number SYK189484

Grade II listed

Offers in the region of £895,000 subject to contract

Fully let to Four Trees Lettings (company number 11380321)

Gross income of £95,910 per annum. Outgoing costs are utilities and council tax totaling £28,724 per annum

The tenant, Four Trees Lettings, let and manage the property and guarantee a rent of £347.50 per room per month.

A purchase at this level would reflect a Net Yield of 7.23% (assuming commercial stamp duty of £34,250 - 3.83%)

Potential to increase rental income to £117,300 per annum giving rise to a Net Yield of 9.53%

Location - The property is located on Abbeydale Road, which is one of the main arterial routes leading to and from Sheffield City Centre to the south western suburbs. The area is located less than 1 mile south west of Sheffield City Centre, and is within a local suburb of largely independent retailers and restaurants on London road. The area has a high concentration of residential occupants and commercial operators including retailers, cafes, restaurants and hot food uses.

Description - The property is a stunning grade II listed period building of stone construction with a grand presence fronting onto Highfield Place set under a pitched slate roof. Arranged over ground floor, first and second floor the property extends to a total of 4,864 sq ft (GIA) with the main entrance from Highfield Place leading to the first floor. A separate rear entrance is at ground floor. (plans available on request) Internally the property is utilised to offer 23 bedrooms. The whole property has recently undergone a full refurbishment and redecoration with all appliances being upgraded. Each floor has its own kitchen and bathroom facilities essentially creating 3 separate flats. The property complies with all current regulations for HMO’s and other associated legislation. The property is currently fully let The property is owned on a Freehold basis,

Land Registry Title (SYK189484

Price - £895,000 subject to contract

Estimated Rental Value - The property has an Estimated Rental Value of £117,300 per annum subject to asset management