Ground Floor, 25 – 29 Division Street, Sheffield – S1 4GE • Sainsbury’s Supermarkets Ltd (Co no. 03261722)

• 200 Degrees Coffee Shops Ltd (Co no. 08902756)

PRIME CITY CENTRE - COMMERCIAL INVESTMENT FULLY LET - PRODUCING £150,571 P.A.X. – WITH STEPPED

INCREASE AND RPI REVIEW

LOCATION

The property is situated in the very heart of Sheffield city centre (Population 551,800 –

2011 Census) in a prime position on Division Street, close to the City Hall and John Lewis

department store.

The immediate area has very high footfall and is a sought-after vibrant location on the

most central end of Division Street. The area is popular with students from both

universities as well as large numbers of office workers from a range of schemes including

the new multi-million-pound HSBC office is also situated close by.

Nearby occupiers include, Café Nero, Taylor Taylor, Yates Public House and John Lewis.

The subject investment sits immediately alongside the

part of Carver Street which is to be pedestrianised as part

of the Heart of the City II scheme.

This scheme will adjoin the key retail streets of Sheffield

City centre including Division Street and the design will

knit together these various streets and key areas.

It will also make use of the existing grid of streets including Carver Street. The scheme

will see major quality additions to the city’s offer in retail, leisure, Grade A offices, hotel

provision, inner city residential development, car parking, public amenity and public

spaces.

For further information on the Heart of the City scheme please visit the following link:

https://www.heartofcity2.com/wp-content/uploads/2015/05/2018-08-22_Heart-

of-the-City-II_Project-Master-Plan.pdf

Sheffield

Heart of

the City II

COVENANT STRENGTH AND LEASE DETAILS

Floor Description Floor Areas (VOA)

Tenant Term Rent p.a.x

R.R.

Ground Convenience Store

362.27 sq m

Sainsbury’s Supermarkets Limited

15 years from 14/11/2011. (1) on a full repairing and insuring lease.

£95,571 14/11/2021 (RPI)

Basement Staff and Storage

27.5 sq m

As above As above

Ground Café and Premises

176.8 sq m

200 Degrees Coffee Shops Limited

10 years from 23/04/2018. (2) on a full repairing and insuring lease.

£55,000 Rising to £60,000 From 23/04/2021

23/04/2023 (Market Rent)

Basement Storage - As above As above

(1) The lease provides for a tenant option to determine on 14/11/2021 subject to 6 months’ notice.

(2) The lease provides for a tenant option to determine on 22/04/2023 subject to 6 months’ notice

and a 3-month rent payment penalty.

TENANTS Sainsbury’s are one of the UK’s largest

food retailers with over 600

supermarkets and 800 convenience

stores.

Website www.sainsburys.co.uk

Sainsbury’s Supermarkets Ltd -

https://beta.companieshouse.gov.uk/company/03261722

200 Degrees Coffee started as an

independent roasting operation which grew

to include their own coffee shops which now

number 7 across the Midlands, Yorkshire

and Wales. They continue to supply

wholesale and have 4 barista schools.

Website https://200degs.com/

200 Degrees Coffee Shops Ltd -

https://beta.companieshouse.gov.uk/company/08902756

INVESTMENT CONSIDERATIONS

• Fully let commercial investment

• Full repairing and insuring leases

• Currently producing £150,571 pax

• Stepped increase to £155,571 from April 2021

• Index linked rent review for Unit 27-29

• Prime location in the heart of the city

• Heart of the City II redevelopment situated immediately adjacent ASKING - £2,350,000 Subject to Contract

TENURE

The properties are held by way of two ground leases both for a term of 150 years

less 2 days from 25th March 1991. The ground rent currently payable £150 per

annum, per lease. The leases provide for fixed increases of £50 per lease every 25

years. Last review 2016.

ASKING PRICE - £2,350,000 – Subject to contract

MONEY LAUNDERING

In accordance with Anti-Money Laundering Regulations two forms of ID and

confirmation of the source of funding will be required from the successful

purchaser.

VAT & COSTS

VAT is applicable.

Each party are to be responsible for their own costs.

ENERGY PERFORMANCE

The full EPC’s are available for download from our website.

For ease of reference the ratings are noted below.

Description Rating

25 Division Street D

27-29 Division Street D

FOR FURTHER INFORMATION

For further information please contact the sole agents – Mark Jenkinson and son Surveyor acting: Philip Dorman MRICS Tel: 0114 276 0151 Email: philip@markjenkinson.co.uk

Disclaimer – November 2018 These particulars are believed to be correct, however their accuracy is not guaranteed and they do

not form any part of any contract.