Lot

Auction Ends: 18/09/2024 12:51 - Bidding opens Tuesday 17th September 10:00 AM

58-60 Holme Lane, Hillsborough, Sheffield, South Yorkshire, S6 4JQ

Guide Price

£400,000 plus

Additional Costs / Fees will apply

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Property Details

Location

Description

INVESTMENT - £42,926pa - A substantial double fronted property comprising a ground floor Pharmacy with two flats above, occupying a high profile tram route location close to Hillsborough centre and adjoining the Tramways Medical Centre. The ground floor is let for 20 years from 1st February 2024 with a stepped rent currently standing at £16, 574.40pa and rising incrementally to £23,511 in 2042. Each flat comprises 3 bedrooms with shared facilities and produce rents amounting to £1,096 and £1,110 pcm with the landlord paying Council tax and utility bills.

Location

The property occupies a high profile location on the Malin Bridge spur of the Supertram which gives easy access to Sheffield city centre, The University and surrounding districts . Comprehensive facilities are close by in Hillsborough , including the Barracks Shopping Centre , a wide range of shops on Middlewood Road, Tramways Mecical Centre and open countryside in both the Loxley and Rivelin Valleys. The property is on the right hand side when travelling from Hillsborough centre, just before Haden Street and opposite Holme Close.

Accommodation

58-60 Holme Lane - Commercial Accommodation
Ground Floor	80.82 sqm (870 sqft)
Basement	Cellar Storage
58-60 Holme Lane - Residential
Flat 58A
Ground Floor	Rear Entrance
First Floor	2 Bedrooms & Shower Room/WC
Second Floor	Bedroom & Kitchen
Flat 60A
First Floor	2 Bedrooms & Shower Room/WC
Second Floor	1 Bedroom & Kitchen

Outside

Rear yard approached from Haden Street
Substantial store

Approx Site Area

Approximately 190 Sq M (2048 Sq F)

Tenancy

RENTAL INCOME SUMMARY

Commercial - 58-60 Holme lane	Monthly rent	Annual Rent
Ground Floor premises - details below*		£16,574.40
Residential Accommodation
58A Holme Lane - Landlord pays Council Tax and Utility bills	£1,096	£13,152
60A Holme Lane - Landlord pays Council Tax and Utility bills	£1,100	£13,200
Gross Annual Income		£42,926.40

*COMMERCIAL LEASE TERMS

The ground floor and basement are let for a period of 20 years from the 1st February 2024 on the basis of a stepped rent as follows-

(a) £16,574.40
per annum for the period from and

including the Rent Commencement
Date to and

including 31 January 2027;

(b) £17,568.86 per annum for
the period from and

including 1 February 2027 to
and including 31

January 2030;

including 1 February 2030 to
and including 31

January 2033;

(d) £19,740.38 per annum for
the period from and

including 1 February 2033 to
and including 31

January 2036

(e) £20,924.80 per annum for
the period from and

including 1 February 2036 to
and including 31

January 2039

(f) £22,180.29 per annum for
the period from and

including 1 February 2036 to
and including 31

January 2042

(g) £23,511.10 per annum for
the remainder of the

Contractual Term

Costs

Details of the Buyer's Premium and any additional fees payable are contained within the legal documents.

General

1. All the information provided on our website is for indicative purposes only and interested parties should refer to the contents of the legal pack and rely upon their own due diligence as a prudent bidder.

2. PLEASE NOTE BIDDING COMMENCES ON TUESDAY 17TH SEPTEMBER AND CLOSES ON WEDNESDAY 18TH SEPTEMBER.

3. Energy Performance Certificate = C.

4. The property is entered in the 2023 Rating List as "Shop and premises" " with a Rateable Value of £11,250 The Rateable Value (RV) is not the amount payable. 2. PLEASE NOTE BIDDING COMMENCES ON TUESDAY 17TH SEPTEMBER AND CLOSES ON WEDNESDAY 18TH SEPTEMBER.