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City Parkway, Parkway Avenue S9 4WA

Status: Available

Type: Industrial

Details: Download PDF

Prime Multi-Let Trade and Auto Park Investment

  • A rare opportunity to acquire a prime multi-let trade and auto park in Sheffield.
  • Exceptional position immediately off Sheffield Parkway (A57), the main dual carriageway into Sheffield city centre from the M1 (J33),and only 1 mile east of the city centre.
  • Highly prominent and established location with numerous similar occupiers nearby including Makro, Bookers, Costco and MKM.
  • City Park is a well configured multi-let trade and auto park consisting of eight units providing a total gross internal area of 134,330 sq ft (12,479.56 sq m).
  • Let to five tenants, producing an annual rent of £1,157,579 (including rental guarantees).
  • Excellent security of income provided by a diverse mix of tenants with occupiers including Jewson, HSS, Howdens and Pentagon Motors.
  • Attractive income profile with an AWULT of 9.2 years to lease expiries and 8.9 years to earliest determination.
  • Substantial site totalling 11.93 acres (4.83ha) providing a low site cover of 25% and offering potential for higher density future development.
  • Freehold. 
  • Offers are sought in excess of £16,070,000, (Sixteen Million and Seventy Thousand Pounds) subject to contract and exclusive of VAT.
  • A purchase at this level reflects an attractive net initial yield of 6.75%, and a reversionary yield of 6.97% based on fixed uplifts, assuming purchasers costs of 6.6‌8%.