17 Church Street
Sheffield
South Yorkshire
S1 2GN

Freehold Retail Investment (plus approx. 6,700 sq ft of Vacant self-contained accommodation)

  • Part let to Tesco Stores Limited until January 2034 (subject to option)
  • Includes self-contained bar/restaurant/retail opportunity
  • Grade II listed building - no empty rates
  • Nearby occupiers include Marks & Spencer, Boots the Chemist, WHSmith, TK Maxx, Caffè Nero and Lloyds Bank
  • Close to Supertram and numerous bus routes
  • Prominent position in the heart of Sheffield City Centre, opposite Sheffield Cathedral
  • Lot
    28
  • Auction
    14/Feb/2018
  • Rent
    £65,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £1,110,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Property Update
  • 17 Church Street<br>Sheffield<br>South Yorkshire<br>S1 2GN
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Property Information

Location
Miles
33 miles south of Leeds, 38 miles east of Manchester
Roads
A57, A61, M1 (Junction 33 & 34)
Rail
Sheffield Railway Station
Air
Robin Hood Doncaster/Sheffield Airport
Situation

Located opposite Sheffield Cathedral and in the heart of the City Centre, the property is prominently situated on the southern side of Church Street, which adjoins High Street and Fargate to the east. Nearby occupiers include Marks & Spencer, Boots the Chemist, WHSmith, Caffè Nero and Starbucks.
Orchard Square Shopping Centre is adjacent to the subject property, with retailers including TK Maxx, Costa and River Island represented. One of the City's tram lines stops to the front of the property.

Tenure

Freehold.

Description

The property, a landmark former bank building, is a Grade II listed property now comprising a large ground floor shop (convenience store) and separate self-contained accommodation accessed from Church Street with ornate features and a large floor to ceiling height at ground floor along with basement and part first floors benefitting from A1/A2 and A3 consent. There is also separate accommodation on part of the first floor, which is not currently let.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

Bidder's Legal Report

For the ease and convenience of prospective buyers,to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is advisable. For more information, please click here.

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
Part GroundRetail/
Ancillary
369.85 sq m
(3,981 sq ft)
TESCO
STORES
LIMITED (1)
20 years from 10/01/2014
until 09/01/2034 (2) on a full
repairing and insuring lease
£65,00010/01/2019
and 5 yearly
thereafter (3)
Part Ground
Basement
Part First
A1/A2/A3/
Ancillary
316.71 sq m
59.55 sq m
144.93 sq m
(3,408 sq ft)
(641 sq ft)
(1,560 sq ft)
VACANT
POSSESSION
---
Part First
(not accessed)
Ancillary
108.98 sq m
(1,173 sq ft)
VACANT
POSSESSION
---
Total
999.88 sq m
(10,763 sq ft)
  £65,000 

(1) For the year ending 25th February 2017, Tesco Stores Limited reported a turnover of £40,134,000,000, pre-tax profits of £266,000,000 and a total net worth of £749,000,000 (Source: Experian Group 10/01/2018).
(2) The lease provides for a tenant option to determine on 10th January 2024.
(3) The rent is reviewed in 2019 and 5 yearly thereafter to RPI capped at 4% and collared at 0%.

Property Documents

  • Catalogue Page
    Updated Date
    23.01.18
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    23.01.18
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George WatkinsGeorge Watkins +44 (0)20 7034 4861george.watkins@acuitus.co.uk
Seller's Solicitors
BBS Law The Edge, Clowes Street
Salford
M3 5NA
Daniel Berger 0161 832 2500daniel@bbslaw.co.uk

Useful Links

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