44 - 62 Pinstone Street
Sheffield
South Yorkshire
S1 2HN

Freehold City Centre Retail Parade Investment

  • Let to tenants including The Co-Operative Bank Plc, Skipton Building Society and Toni&Guy
  • Includes new letting in February 2020 to Skipton Building Society
  • September 2020 (Toni&Guy) and July 2021 (Co-Op Bank) break options recently removed
  • Prominent position in heart of Sheffield City Centre's "Redevelopment Quarter" (Heart of the City II)
  • Nearby occupiers include John Lewis, Browns, Caffe Nero, Bill's & JD Sports, and adjacent to the proposed Radisson Blu Hotel
  • Lot
    12
  • Auction
    23/Sep/2020
  • Rent
    £186,030 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On Behalf of a Major Fund
Important Auction & Property Update
  • 44 - 62 Pinstone Street<br>Sheffield<br>South Yorkshire<br>S1 2HN
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* More information on the term "price" can be found here

Property Information

Location
Miles
37 miles south of Leeds
38 miles east of Manchester
Roads
A61, M1
Rail
Sheffield
Air
Doncaster Sheffield Airport
Situation

The property is situated on the west side of Pinstone Street, in a prominent location opposite Peace Gardens, a central and popular open public space in the heart of Sheffield City Centre, which hosts farmers markets, food festivals and winter gardens. Nearby retailers include John Lewis (100 metres to the west) Browns, Caffe Nero, Bill's & JD Sports.

Tenure

Freehold.

Description

The property comprises three well configured retail units, situated over ground floor and basement. The units have all been recently re-fitted. The upper floors have been let on a long lease.

VAT

VAT is applicable to this lot.

EPC

Available from the legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview/
(Reversion)
Ground
Basement
Banking Hall
Ancillary
155.70 sq m
75.07 sq m
(1,676 sq ft)
(808 sq ft)
THE
CO-OPERATIVE
BANK PLC (1)
10 years from
20/07/2016
£80,00020/07/2021
Ground
Basement
Retail
Ancillary
61.13 sq m
45.43 sq m
(658 sq ft)
(489 sq ft)
TONI & GUY
NORTH LIMITED
(2) t/a Toni&Guy
10 years from
07/09/2015 (2)
£33,00007/09/2020
Ground
Basement
Retail
Ancillary
147.53 sq m
113.53 sq m
(1,588 sq ft)
(1,222 sq ft)
SKIPTON
BUILDING
SOCIETY (3)
10 years from
11/02/2020 until
10/02/2030 (4)
£72,50011/02/2025
Part Ground
to Fourth
Residential
-
(-)
ELMDON REAL
ESTATE
150 years from
01/08/2003
Peppercorn-
Substation-
-
(-)
NORTHERNPOWER20 years from
29/09/2002
£530-
Total
 
598.39 sq m
(6,441 sq ft)
  £186,030 

(1) Co-Operative Bank Plc was originally founded in November 1872 and now operates from over 60 branches throughout the UK (www.co-operativebank.co.uk). The July 2021 tenant break option was recently removed in return for a rent free period which has now expired.
(2) TONI&GUY was founded in 1963 and now operates from more than 475 salons across 48 countries (www.toniandguy.com). The September 2020 tenant break option was recently removed in return for a rent free period which expires in March 2021. The Vendor has agreed to adjust the completion monies so that the lease will effectively produce £33,000 pa from completion.
(3) Skipton Building Society was founded in 1853 and now operates from over 100 branches throughout the UK (www.skipton.co.uk).
(4) The lease is subject to a tenant option to determine on 11/02/2025.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    11.09.20
    File Size
    137 MB
    Login to View
  • Site Plan
    Updated Date
    02.09.20
    File Size
    614 KB
    View PDF
  • Catalogue Page
    Updated Date
    04.09.20
    File Size
    6 MB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    15.09.20
    File Size
    57 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Associate Auctioneers
JLL 1 Curzon Street
London
W1J 5HD
Frankie Maddox +44 (0)207 399 5744frankie.maddox@eu.jll.com
Seller's Solicitors
Forsters LLP 31 Hill Street
London
W1J 5LS
Grace Cassidy 020 3872 1174grace.cassidy@forsters.co.uk

Useful Links

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