Lot
082
Auction: October 2024 Online Auction 16/10/2024 - Bidding opens Tuesday 15th October 10:00 AM

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

Property Details
Location
Auction Details
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 FloorBedroom & Kitchen 
Flat 60A
First Floor2 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;

(c) £18623.00 per annum for the period from and

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 15TH OCTOBER AND CLOSES ON WEDNESDAY 16TH OCTOBER.

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.

Our Nearest Office

Sheffield 600x300

Sheffield

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