The property comprises two adjoining residential buildings known as Ashton Point and Ashton Works. Ashton Point is a purpose-built development completed in 2010 and Ashton Works is a character property, originally constructed as a mill over a century ago and converted into residential accommodation in 2008. The scheme comprises 65 flats in total, of which 25 at Ashton Point have been sold on long leaseholds. We are instructed to sell the remaining 40 flats together with the ground rent income received from the 25 leasehold units.
- Ref: 2097208
- Types: Residential Investment
- Size: 40 sq ft
- Freehold: £4,350,000
Key Features
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Two freehold blocks with 65 apartments (40 available)
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Purpose-built block and converted mill scheme
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Mix of studios, one and two bedroom apartments
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Well located for access into Sheffield City Centre
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40 EPCs in place rated B-D with expiries from 2027-2035
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Ground rent income from 25 apts sold off long leasehold
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Apartments 100% let producing £344,820 PA
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Ground rent income is £3,750 PA
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ERV of approximately £388,500 PA (Exc. ground rent)
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Guide price of £4,350,000 reflects 9.02% gross yield
Location
Ashton Point & Ashton Works, Upper Allen Street, Sheffield, South Yorkshire, S3 7GN
Located on Upper Allen Street, around 160m south-west of its junction with Meadow Street, providing access to Netherthorpe Road. The area is predominantly residential, with a mix of purpose-built accommodation and some commercial uses. Close to the University of Sheffield, it supports a strong student market, with the city centre an 18-minute walk or 15 minutes by bus.
Additional Info
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