Property description

Unique investment and development opportunity in central Sheffield.
Newly refurbished fully let 27x studios plus ground floor retail.
All studios will be let on ASTs.
This is the income generating component.

There is a warehouse to the rear has this planning application and it will be determined 30/9/21.

Here, 14 x additional / new build apartments – valued at £95k each.
This values the land at £30k a plot as they will cost £35k to build.
Price to convert 14 units is around £490k
This is the development component.

Seller will accept below (no lower offers)
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27 Studios @£80k each = £2.16m
Retail £150k = £150k
14 x Plots @30k each = £420k
Total price £2.73m (in spv so 0.5% sdlt)

Total value when complete = £3,775,000
ie £555k profit.

Freehold building / land sold on a spv so only 0.5% sdlt to pay on completion.
Amenities

Central heating

Double glazing

Wood floors

Unique freehold investment with development opportunity

Spv sale - Minimal purchase tax

Great city centre location