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Rotherham – Freehold Vacant Retail Investment with Residential Development Potential

For sale: £300,000.00|3,892 Sq Ft|Residential, Retail, General Retail, Retail - High Street

Property details

FOR SALE£300,000.00
SIZE3,892 Sq Ft
ADDRESS24-26 Effingham Street, Rotherham, South Yorkshire, S65 1AJ
TYPEResidential, Retail, General Retail, Retail - High Street
TENUREDevelopment Opportunity, For Sale Freehold
POSTED ON13th November 2021

Description

Investment Consideration:
Vacant possession
ERV: £23,000 p.a. GIY: 7.67%
VAT is applicable to this property
Comprises double fronted retail premises arranged over four floors and basement
Total area size of 361.70 sq m (3,892 sq ft)
Property benefits from large canopy area at the front and loading area at rear
Only property in area with a large covered canopy which would benefit a restaurant or café type
Residential development potential to convert upper floors, subject to obtaining the necessary consents
Prominent central pedestrianised location within short walk to Rotherham Market Hall and Rotherham Train Station
Busy market on certain days outside of the premises
Nearby occupiers include Santander, Greggs, Halifax, Nationwide and Tesco Extra, amongst others.

Property Description:
The property comprises double fronted retail premises arranged as ground floor shop with ancillary accommodation at basement, first, second and third floor. Development potential to convert upper floors to residential accommodation, subject to obtaining the necessary consents.

The property provides the following accommodation and dimensions:
Ground Floor: Shop 75.60 sq m (813 sq ft)
First Floor: Ancillary 82.60 sq m (889 sq ft)
Second Floor: Ancillary 63.90 sq m (688 sq ft)
Third Floor: Ancillary 58.20 sq m (626 sq ft)
Basement: Ancillary 81.40 sq m (876 sq ft)
Total area size: 361.70 sq m (3,892 sq ft)

Tenancy:
The entire property is at present vacant. ERV: £23,000 per annum.

Location:
Rotherham is a large minster town and the principal settlement of the Metropolitan Borough of Rotherham in South Yorkshire, England. Rotherham Central station has frequent trains connecting to Sheffield in 14 minutes, Manchester through a change in Sheffield is accessible within 70 minutes. The property benefits from central pedestrianised location within short walk to Rotherham Market Hall and Rotherham Train Station. Nearby occupiers include Santander, Greggs, Halifax, Nationwide, Tesco Extra and others.

Location

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Location: 24-26 Effingham Street, Rotherham, South Yorkshire, S65 1AJ

Rotherham Central (0.2 miles)

Meadowhall (2.6 miles)

Darnall (4.0 miles)

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