Retail

Sheffield

44-62 Pinstone Street Sheffield, South Yorkshire United Kingdom S1 2HN

Asking Price

NOI Net Operating Income

Cap Rate

Asking Price

NOI Net Operating Income

Cap Rate

Documents

Teaser

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Attributes

Property Reference Number	100052079577
Building Area

Property Description

The property comprises four well configured retail units, situated over ground floor and basement. Unit 60-62 Pinstone Street, let to Co-Op Bank benefits from a glazed dual frontage on the ground floor. The unit has been recently re-fitted to include a large sales staircase and an ATM on the side return. 44 Pinstone Street, is the only unit that offers ground floor only. The upper floors have been sold off on a Long Leasehold to Elmdom Real Estate for a term until 2153, proving with 135 years unexpired, at a peppercorn rent.

Investment Highlights

England’s sixth largest city and a significant shopping, leisure and cultural destination
Located in Sheffield’s £500m redevelopment of 1.5m sq ft of land in the “Heart of the City”
HSBC set to occupy 160,000 sq ft in June 2019 bringing an addition 2,000 employees to the area
Prominently located on the high footfall location linking The Moor and Fargate
2 recent lettings demonstrating occupier demand for Pinstone Street
Secured to national covenants of Co-Op Bank, Size and Tony & Guy
WAULT of 3.6 years to expiry and 8.6 years to breaks
Total rent of £189,450 per annum
Freehold

Last Updated Date: 23 Sep 2020

Frankie Maddox

Associate Director- Retail Investment

+0008004430006

Jonathan Heptonstall

Head of High Street Retail

+0008004430006

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Last Updated Date: 23 Sep 2020