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For Sale£6,700,000.00

St. James House, Vicar Lane, Sheffield, S1 2EX

Office, Other, Offices, Other Property Types & Opportunities , 0 - 56984 Sq Ft
Property type: Office, Other, Offices, Other Property Types & Opportunities
Tenure: Business for sale, Development Opportunity, Investment Opportunity, For Sale Freehold
Size: 0 - 56984 Sq Ft
Price: £6,700,000.00
Location: St. James House, Vicar Lane, Sheffield, S1 2EX
One of Sheffield's landmark office buildings, located within the traditional professional district, close to all city centre amenities and transport links.

The property has recently undergone a major refurbishment, which will include modernisation of the reception and common areas as well as new glazing and M&E throughout the building.

The suites are refurbished to a modern specification, benefitting from:
> New air conditioning
> Perimeter trunking
> New double glazed, solar tinted windows
> 3 new passenger lifts
> Excellent floor to ceiling height
> Modern male, female and disabled WC's
> Modern, manned reception area
> New modern lighting specification
> On site car parking

Numerous asset management opportunities are available through letting the vacant space, lease renewals / lease re-gears.

The property has a currnet income of £595,976pa. Assuming fully let, based on a sensible ERV tone of £15.00 psf, the rental income could increase to £762,360 per annum.

We are instructed to seek offers in excess of £6,700,000 (Six Million Seven Hundred Thousand Pounds), subject to contract and exclusive of VAT.

After allowing for usual purchaser's costs of 6.64%,this reflects an attractive net initial yield of 9.44% (with 12 month rent guarantees on the vacant space) and a modest capital value of £118 psf.

( Agency Pilot Software Ref: 621 )
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