For SaleRegent Terrace/Regent Street, Sheffield S3 7QA

• Student Investment Properties with 42 Beds

• 9 Cluster Flats ranging from 4 – 7 Beds

• Sheffield City Centre Locations Close to 2 Universities

• Offers invited in the region of £2.75m

LOCATION Sheffield is home to two of the largest universities in the UK, with a student population of over 60,000. The city has transformed itself from an industrial heartland to a vibrant centre for creative, digital and professional industries. Sheffield is a significant player in the Northern Powerhouse agenda and well connected with Manchester just under an hour away via train, and London two hours away. Regent Terrace is situated in Sheffield City Centre, adjacent to Sheffield University and within walking distance of Sheffield Hallam University campus. The building is just off West Street, Sheffield’s main student drinking circuit. The prime shopping areas of the city are within easy walking distance, and within 50 yards of the property is Sheffield’s Supertram system connecting to the bus and railway stations and the outlying suburbs.

DESCRIPTION Constructed in 2004, this is a 7 storey, purpose-built brick building with a ground/first floor leisure unit, which has been sold off on a long lease.

The student accommodation is designed in individual cluster flats, each with its own dining/kitchen area and each of the student bedrooms have en-suite facilities, with the exception of the 6th floor where facilities are shared.

ACCOMMODATION 42 student beds within 9 apartments, each having a communal kitchen. With the exception of the top floor 7-bed apartment, whish has shared WC & shower facilities, all the bedrooms are en-suite.

• 5 x 4 beds

• 3 x 5 beds

• 1 x 7 beds

FACILITIES All of the apartments in each building are fully equipped with: -

• double glazing throughout

• washer/drier

• dishwasher

• fridge/freezer

• microwave

• fire alarm

• phone/TV points

• broadband in each bedroom

TENANCIES The individual flats are let on Assured Shorthold Tenancy Agreements signed by all tenants, for a period of 12 months from the 1st July 2019 to 30th June 2020. All rents are inclusive of utilities with broadband paid by the individual tenants.

RENTAL INCOME Recent rental income figures are as follows:

2015/16 £197,824 2016/17 £203,424 2017/18 £210,965 2018/19 £210,132 2019/20 £190,057 2020/21 £205,348*

Notes * Estimated rents – currently letting for 2020/21

RUNNING COSTS For the 2018/19 academic year, running costs were around £35,376.

These figures cover utilities, general maintenance, testing, water hygiene, lifts, fire alarm & insurance.

Further details of the level of expenditure are available on request.

TENURE Regent Street is a virtual freehold with 601 years remaining on the ground lease. The ground floor bar has been sold off on a 115-year ground lease from 6th November 2015 at a term of 125 years at a fixed ground rent of £250 per annum.

PRICE Offers in the region of £2.75m are invited for the freehold interest, subject to the existing occupational tenancies.

MONEY LAUNDERING In order to comply with Money Laundering Regulations, purchasers will be required to provide identification documentation together with confirmation of the source of funding. Further details on request.

VIEWING ARRANGEMENTS Viewing arrangements, and any further information, can be obtained from Martin Crosthwaite at Crosthwaite Commercial on 0114 272 3888 or email martin@crosthwaitecommercial.com

SUBJECT TO CONTRACT & AVAILABILITY

February 2020

Location Plan

Internal Photos