Redvers House, Union Street, Sheffield S1 2JQ

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Abigail Kennedy
5 years ago
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LANDMARK CITY CENTRE OFFICE/RETAIL BUILDING OFFERING ASSET

1 On the Instructions of LPA Receivers Development / Investment Opportunity FOR SALE Redvers House, Union Street, Sheffield S1 2JQ LANDMARK CITY CENTRE OFFICE/RETAIL BUILDING OFFERING ASSET MANAGEMENT OPPORTUNITIES OFFICE REFURBISHMENT POTENTIAL INCOME PRODUCING ASSET

2 LOCATION Sheffield is England s 4 th largest city with a population of around 530,000. Redvers House is located in the centre of Sheffield's prime business district close to the Heart of the City which is the city's most prestigious office location. This area has undergone substantial regeneration over the past 10 years including St Paul's Place with the development of 2 office buildings currently occupied by DLA Piper solicitors, RBS and Barclays in the first building and the Departments of Business & Innovation and Education in the second. The final building within this scheme, comprising some 80,000 sq ft of speculative Grade A space, is currently under construction with completion scheduled for Other Heart of the City attractions include The Winter Gardens, St. Pauls City Lofts residential tower, the Mercure St Paul's 4* hotel and a range of restaurants and bars including Pizza Express, Cosmo, Café Rouge and Piccolinos. Also nearby is Sheffield s proposed New Retail Quarter, a comprehensive shopping scheme currently under consultation, which could provide up to 800,000 sq ft of new shopping & leisure located less than 75 yards north on the corner of Furnival Gate and Pinstone Street. Immediately adjacent to Redvers House on the Union Street frontage is Howden House which is Sheffield City Council s principle office open to the public. Diagonally opposite Currys is The Moor shopping precinct where The Moor Market, Sheffield s new indoor market has recently relocated. Scottish Widows are undertaking a comprehensive redevelopment of the area with phase 2 being a new 200,000 sq ft retail and leisure scheme adjacent to Debenhams including a 45,000 sq ft store for Primark and a cinema complex. The 3rd phase is to be the former Co-operative store and block directly opposite Currys, fronting Furnival Gate. Redvers House is less than 100 yards from the main campus of Sheffield Hallam University and the University of Sheffield campus is within 10 minutes walk. Between them the two universities have over 60,000 students. Sheffield s central transport interchange with the bus and train stations is less than 5 minutes walk away, with the nearest Supertram stop around 500 yards distance on West Street.

cladding. The property comprises an 11 storey office tower with a ground floor reception fronting Union Street together with a 3 storey retail unit on the corner of Union Street and Furnival Gate.

3 DESCRIPTION Redvers House was built in 1971 by the construction firm Newman Doncaster Associates. Constructed of a concrete frame and standing to a height of 177 feet (54 metres), the building benefitted from a major 7m refurbishment in 2005 which include the exterior being re-clad in its present cladding. The property comprises an 11 storey office tower with a ground floor reception fronting Union Street together with a 3 storey retail unit on the corner of Union Street and Furnival Gate. The offices provide open plan air conditioned space on each floor served by 3 passenger lifts and two staircases, with male and female WC s on each floor. The retail unit provides open plan retail floor space on ground and first floors (although the first floor is not used at present) with extensive double height glazed frontages to both Union Street and Furnival Gate, together with storage at second floor level. The unit has a loading bay to the rear and the 3 floors are served by a goods lift. ACCOMMODATION We have been provided the following Gross and Net Internal Floor Areas; Accommodation Gross Net sq. ft. sq. m. sq. ft. sq. m. Tower (Office) Ground Mezzanine First 6, , Second 6, , Third 6, , Fourth 6, , Fifth 6, , Sixth 6, , Seventh 6, , Eighth 6, , Ninth 6, , Tenth 6, , Eleventh 6, , Roof Sub-Total 68,982 6, ,210 5,036.2 Podium (Retail) Ground 13,724 1, ,881 1,196.7 First 13,724 1, ,242 1,230.2 Second 14,073 1, ,257 1,231.5 Sub-Total 41,521 3, ,380 3,658.4 Total 110,503 10, ,590 8,694.8

TENANCIES The property will be sold with the benefit of the following tenancies; TENANT ANNUAL RENT COMMENTS DSG Retail Limited 370,000 pa Lease expires 26 th September 2019 Orange Personal

Communication Station and Premises 12,000 TOTAL RATEABLE VALUE 869,500* *The Uniform Business Rate for the financial year 2014/15 is 48.2 pence in the pound.

4 TENANCIES The property will be sold with the benefit of the following tenancies; TENANT ANNUAL RENT COMMENTS DSG Retail Limited 370,000 pa Lease expires 26 th September 2019 Orange Personal Communication Services Limited 11,750 pa Lease expired 7 th March 2013 (tenant holding over) TOTAL ANNUAL INCOME 381,750 pa RATES Description RV Offices and Premises 565,000 Shop and Premises 292,500 Communication Station and Premises 12,000 TOTAL RATEABLE VALUE 869,500* *The Uniform Business Rate for the financial year 2014/15 is 48.2 pence in the pound. TENURE Freehold with vacant possession of office tower and subject to occupational leases. PRICE Offers are invited in the region of 7,000,000, subject to contract. This reflects a capital value of 50 psf for the office tower and 8.15% NIY on the remaining income. PLANNNING Interested Parties should make their enquiries with the Local Planning Authority:

Sheffield City Council Howden House, 1 Union Street, Sheffield S1 2SH Tel: 0114 203 9183 EPC Energy performance certificates will be provided on request.

Mobile: 07767 401700 Email: martin@crosthwaitecommercial.com Simon C. Parsons, MRICS Pyle Owen LLP Tel: 01572 338 303 Mobile: 07711 042330 Email: simon.parsons@pyleowen.

5 Sheffield City Council Howden House, 1 Union Street, Sheffield S1 2SH Tel: EPC Energy performance certificates will be provided on request. VIEWING & FURTHER INFORMATION For further information or to make arrangements to view please contact either of the joint agents: Martin Crosthwaite FRICS Crosthwaite Commercial Tel: Mobile: martin@crosthwaitecommercial.com Simon C. Parsons, MRICS Pyle Owen LLP Tel: Mobile: simon.parsons@pyleowen.com PROPERTY MISDESCRIPTION ACT 1991 Details amended January 2015 All statements contained within these particulars have been provided in good faith and are understood to be correct. Accuracy in respect of all statements cannot be guaranteed as we rely on information provided and they do not form part of any contract or warranty and accordingly. 1) Dimensions, distances and floor areas are approximate and given for guidance purposes only. Potential purchasers should satisfy themselves as to the validity of the guide figures given. 2) Information on tenure or vacancies is provided in good faith and prospective purchasers should have this information verified by their solicitors prior to purchase. 3) Information on rating assessments, availability of services and Town and Country planning matters have been obtained by an oral enquiry to the appropriate planning authority. Pyle Owen Group do not warrant that there are no connection charges inherent in the availability of services to the unit. Prospective purchasers should obtain written confirmation prior to entering into any contract for purchase or lease. 4) Detailed test have not been undertaken on services, central heating installations, plumbing installations etc. and purchasers/leasees should undertake independent tests as to the condition of all services and mechanical engineering installations. 5) All guide price and rental figures are quoted exclusive of VAT unless expressly stated to the contrary.

TO LET FULLY REFURBISHED COMFORT COOLED OFFICES IN HIGHLY REGARDED TOWN CENTRE LOCATION SUITE 5, IMPERIAL HOUSE HOLLY WALK, LEAMINGTON SPA, CV32 4JG

On the Instructions of TO LET FULLY REFURBISHED COMFORT COOLED OFFICES IN HIGHLY REGARDED TOWN CENTRE LOCATION SUITE 5, IMPERIAL HOUSE HOLLY WALK, LEAMINGTON SPA, CV32 4JG Net internal area: 2,270 SQ FT