For SaleSaxon Works, Rutland Road, Sheffield S3 9PT

• Industrial Investment For Sale

• 16,785 sq ft on 1.18 Acre Site

• Asset Management Opportunities – Reversionary Asset

• £680,000 - Low Capital Value £40 psf

• Fully Let - Current Total Income £49,300 p.a (6.9% Net Yield)

LOCATION Saxon Works fronts onto Rutland Road (B6070), which is part of Sheffield’s Outer Ring Road, leading directly onto Penistone Road (A61) and Barnsley Road (A6135) which leads to Meadowhall and the M1. The premises offer easy access into Sheffield City Centre and to the M1 at Junctions 34, 35 and 36. Nearby is Parkwood Industrial Estate with the proposed New Sheffield Ski Village complex close by.

DESCRIPTION Saxon Works extends to approximately 1.18 acres and compromises a variety of buildings. To the south section of the site there is a semi-detached two storey brick-built workshop incorporating office and storage accommodation. To the rear of this are two workshop units of steel frame construction with a surfaced yard accessed directly from Rutland Road. At the northern end of the site is a steel framed building and adjoining this a plot of land utilised as a car wash. On the northern boundary of the site there is a 20ft x 10 ft advertising hoarding facing the northbound traffic on Rutland Road.

ACCOMMODATION

(Approximate Gross internal areas) Unit 1 8,584 sq ft 797.5 sq m Unit 1a 7,847 sq ft 728.9 sq m Car Wash Unit 354 sq ft 32.9sq m Total 16,785 sq ft 1,599.4 sq m

EPC There are various EPC ratings all within Bands D & E. Full Energy Performance Certificates will be provided on request.

TENANCIES Units 1 & 1a are let to Bag It Don’t Bin It Ltd on an Internal Repairing Lease for a term of 10 years from 20th October 2017, expiring 19th October 2027. The current rental is £36,000 per annum with a CPI linked rent review on 20th October 2022. There is also a mutual break clause on the same date. The car wash is let to a private individual who is paying £12,000 per annum and currently holding over. The advertising hoarding is let to Outdoor Systems Limited and paying £1,300 per annum. They are holding over on a lease from 2004. Total Rental Income - £49,300 pa.

COVENANT STRENGTH Bag It Don’t Bin It Ltd (Co. No. 06307861) has been established since 2007. The 2018 accounts show total current assets of £931,000 and a net worth of £354,000. The Car Wash is let to a private individual and the lease is in their personal name. Outdoor Systems Limited (Co. No. 03781418) has been established since 1999. The 2019 accounts show total current assets of £41,000 and a net worth of £6,000.

PRICE Offers in the region of £680,000 are invited for the Freehold interest which would reflect a low capital value of £40 per square foot and a net initial yield of 6.9%. We understand that VAT will NOT be payable.

ASSET MANAGEMENT POTENTIAL The South Yorkshire light industrial market continues to strengthen with strong levels of demand and a lack of supply contributing to improving rents. We consider Units 1 & 1a to present the potential for rental growth at reversion. The mutual break clause means the units could also have potential to be owner occupied. In respect of the car wash and advertising hoarding tenancies, these could both be formalised to provide greater certainty on income.

VIEWING ARRANGEMENTS Viewing arrangements, and any further information, can be obtained from the sole agents, Crosthwaite Commercial – Mark Holmes on 0114 272 3888 or email mark@crosthwaitecommercial.com

SUBJECT TO CONTRACT AND AVAILABILITY

March 2020

Site Plan