London Road, Sheffield, South Yorkshire, S2

COMMERCIAL INVESTMENT OPPORTUNITY

FOR SALE BY MODERN METHOD OF AUCTION - Bidding is Open Now!

Flats 1-5 & Shops 300 and 302, 298-302 London Road, Sheffield


Overview
Presenting an exceptional investment opportunity on London Road, Sheffield—a thriving area known for its vibrant community and diverse amenities. This mixed-use development consists of five residential flats and two commercial units, currently generating a combined income of £46,660 per annum. The property is being offered for sale through the modern method of auction, allowing potential buyers to bid transparently and secure this valuable asset.

Residential Properties
Flats 1-5, 298 London Road

Flat 1: 1 Bedroom
Flat 2: 1 Bedroom
Flat 3: 2 Bedrooms
Flat 4: 1 Bedroom
Flat 5: 1 Bedroom
Current Residential Income: £30,660 per annum

Tenancy Information: All residential units are let on Statutory Periodic Tenancies (SPT), offering flexibility for rent reviews and potential for increased income.

Commercial Properties
Shops 300 and 302, London Road

Shop 300: Currently operated as a general store
Shop 302: Currently operated as a restaurant and sports bar
Current Commercial Income: £8,000 per annum each, totalling £16,000 per annum

Key Benefits of Purchasing on London Road, Sheffield
Prime Location: London Road is a bustling thoroughfare in Sheffield, renowned for its diverse array of shops, eateries, and cultural venues. The area enjoys high foot traffic and is a popular destination for both locals and visitors.

Strong Rental Demand: The proximity to Sheffield city centre, universities, and hospitals ensures a steady demand for rental properties, both residential and commercial.

Income Growth Potential: With all residential units on SPT tenancies, there is an opportunity for immediate rent reviews and income enhancement. The current rental income of £46,660 per annum offers a solid return on investment, with room for growth.

Diverse Tenant Mix: The commercial units cater to a variety of customer needs, enhancing the appeal of the location and providing a stable income stream.

Transport Links: The area is well-served by public transport, with easy access to major roads and public transport routes, making it convenient for residents and customers alike.

Auction Details
Method: Modern Method of Auction
Bidding: Now Open!
Auction Platform:
Fees: Auction fees will apply to secure the property.
How to Bid
To place a bid or for further information, you can:

Register online at
Speak to a member of our sales team who can assist you in placing your bid immediately.

Viewing Arrangements
We invite prospective buyers to arrange a viewing to fully appreciate the potential of this investment. Please contact our sales team to schedule a visit.

**** AUCTION TERMS ****

Auctioneer Comments This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited. This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey). The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded. This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the preparation cost of the pack, where it has been provided by iamsold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change. Referral Arrangements The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.


IMPORTANT NOTE TO POTENTIAL PURCHASERS & TENANTS: We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller. POTENTIAL TENANTS: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in every case.

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