32-44 Wingfield Road, Rotherham, S61 4AL
£1,895,000
£112.60 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
16,830 sq ft
1,564 sq m
- SECTOR
Commercial property for sale
Key features
- Freehold Residential Block & Convenience Store Investment (Fully Let)
- 25 self-contained flats (14 x 2 bed, 11 x 1 bed) & one commercial unit (convenience store)
- Located in the Greasborough area of Rotherham - convenient for J35 of the M1 and access across South Yorkshire
- Current gross rental income is £186,840 per annum
- Freehold site area is approximately 0.543 acres (0.22ha)
- An asking price offer reflects a Gross Yield of 9.86%
Description
Description
The property comprises 25 self-contained flats (14 x 2 bed, 11 x 1 bed) and one commercial unit (convenience store). The rear part of the property was converted / constructed in approximately 2010, with the former ground floor retail converted to residential and then upper floor one bed flats then newly constructed.
The flats are appointed to a good standard including carpeting, laminate flooring, decorated walls, double glazed windows, electric / gas heating, appointed kitchens & bathrooms (WC, bath/shower & wash basin). Externally there is a central courtyard car park and loading area.
Location
The property is located on Wingfield Road in the Greasborough area of Rotherham, South Yorkshire. Greasborough is located approximately just under 2 miles north of Rotherham town centre. The area is mainly residential with a local retailing offering to Fenton Road approximately 0.5 miles away.
The property is well positioned for access to Wortley Road which provides access to Junction of 35 of the M1 Motorway, which is approximately 3 miles away. Parkgate, Rotherham is approximately 1.5 miles away which provides tram line access to Meadowhall shopping centre, Sheffield city centre and wider Sheffield region. There are various bus links from Fenton Road across the South Yorkshire region.
Postcode for Satnav: S61 4AL
Accommodation
The commercial unit is approximately 1,600 sq ft. The 1 bed residential accommodation is between 420 sq ft - 490 sq ft and the 2 bed residential accommodation between 690 sq ft to 750 sq ft. A full accommodation schedule showing areas and unit breakdown is available.
The freehold site area is approximately 0.543 acres (0.22ha).
Tenure
Freehold (title number: SYK478308), subject to the existing tenancies.
Tenancy Details / Rental Income
Commercial: 42-44 Wingfield Road (Commercial Unit) Let at £20,400 pa on a FRI lease from 01/11/2024 until 31/10/2039 (no tenant breaks, with £1,200 increase in rent every 3 years).
Residential: The flats are let on AST's with a mixture on relatively recent AST agreements and more historic ASTs, at rents between £450pcm (1 bed) to £650pcm (2 bed).
The property is fully let, subject to a commercial lease for the convenience store and Assured Shorthold Tenancies for the residential, producing £186,840 pa. Further details are available by request.
Energy Performance Certificates
All EPCs are between C and E. Further details are available.
Council Tax
The flats are designated as council tax banding A
Additional Information
Additional information is available to view and download by request.
Price
Offers in the region of £1,895,000. (We are informed VAT is NOT payable on the price). Subject to all existing tenancies, subject to contract. An asking price offer reflects a Gross Yield of 9.86%.
Identity Checks
In order to comply with Anti-Money Laundering Legislation, the successful purchaser will be required to provide certain identification documents. The required documents will be confirmed to and requested from the successful purchaser.
The property comprises 25 self-contained flats (14 x 2 bed, 11 x 1 bed) and one commercial unit (convenience store). The rear part of the property was converted / constructed in approximately 2010, with the former ground floor retail converted to residential and then upper floor one bed flats then newly constructed.
The flats are appointed to a good standard including carpeting, laminate flooring, decorated walls, double glazed windows, electric / gas heating, appointed kitchens & bathrooms (WC, bath/shower & wash basin). Externally there is a central courtyard car park and loading area.
Location
The property is located on Wingfield Road in the Greasborough area of Rotherham, South Yorkshire. Greasborough is located approximately just under 2 miles north of Rotherham town centre. The area is mainly residential with a local retailing offering to Fenton Road approximately 0.5 miles away.
The property is well positioned for access to Wortley Road which provides access to Junction of 35 of the M1 Motorway, which is approximately 3 miles away. Parkgate, Rotherham is approximately 1.5 miles away which provides tram line access to Meadowhall shopping centre, Sheffield city centre and wider Sheffield region. There are various bus links from Fenton Road across the South Yorkshire region.
Postcode for Satnav: S61 4AL
Accommodation
The commercial unit is approximately 1,600 sq ft. The 1 bed residential accommodation is between 420 sq ft - 490 sq ft and the 2 bed residential accommodation between 690 sq ft to 750 sq ft. A full accommodation schedule showing areas and unit breakdown is available.
The freehold site area is approximately 0.543 acres (0.22ha).
Tenure
Freehold (title number: SYK478308), subject to the existing tenancies.
Tenancy Details / Rental Income
Commercial: 42-44 Wingfield Road (Commercial Unit) Let at £20,400 pa on a FRI lease from 01/11/2024 until 31/10/2039 (no tenant breaks, with £1,200 increase in rent every 3 years).
Residential: The flats are let on AST's with a mixture on relatively recent AST agreements and more historic ASTs, at rents between £450pcm (1 bed) to £650pcm (2 bed).
The property is fully let, subject to a commercial lease for the convenience store and Assured Shorthold Tenancies for the residential, producing £186,840 pa. Further details are available by request.
Energy Performance Certificates
All EPCs are between C and E. Further details are available.
Council Tax
The flats are designated as council tax banding A
Additional Information
Additional information is available to view and download by request.
Price
Offers in the region of £1,895,000. (We are informed VAT is NOT payable on the price). Subject to all existing tenancies, subject to contract. An asking price offer reflects a Gross Yield of 9.86%.
Identity Checks
In order to comply with Anti-Money Laundering Legislation, the successful purchaser will be required to provide certain identification documents. The required documents will be confirmed to and requested from the successful purchaser.
Brochures
32-44 Wingfield Road, Rotherham, S61 4AL
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Rotherham Central Station1.6 miles
- Meadowhall South/Tinsley Tram Stop2.7 miles
- Meadowhall Station2.7 miles
Notes
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Disclaimer - Property reference 236422-1. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by SMC Brownill Vickers, South Yorkshire. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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