0 bed Block of flats (for sale) West Bar Green, Sheffield S1

£2,750,000
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London Property Zone
Britannia House, 1-11 Glenthorne Road, London
020 3478 3495
First Published

19th Oct 2021

Last Published

3rd Nov 2021

 

Features

  • Type: Block of flats
  • Bedrooms: 0
  • Listing status: sale
  • Country: England

Description

Unique investment and development opportunity in central Sheffield.
Newly refurbished fully let 27x studios plus ground floor retail.
All studios will be let on ASTs.
This is the income generating component.

There is a warehouse to the rear has this planning application and it will be determined 30/9/21.

Here, 14 x additional / new build apartments – valued at £95k each.
This values the land at £30k a plot as they will cost £35k to build.
Price to convert 14 units is around £490k
This is the development component.

Seller will accept below (no lower offers)
=============================
27 Studios @£80k each = £2.16m
Retail £150k = £150k
14 x Plots @30k each = £420k
Total price £2.73m (in spv so 0.5% sdlt)

Total value when complete = £3,775,000
ie £555k profit.

Freehold building / land sold on a spv so only 0.5% sdlt to pay on completion.

 

Local info for S1

 

Property Value Data/Graphs for S1

Property Type % Avg. current value Avg. # beds Avg. # bathrooms
Flat 79.2% £125,579 1.4 1.1
Studio 12.8% £72,405 0.3 0.7
Other 3.6% £84,633 0 0.9
Block of flats 3.2% £2,262,500 0 0
End terrace house 0.4% £230,000 4 2
Lodge 0.4% £80,000 2 2
Terraced house 0.4% £165,000 3 1

Area Information

Average Price Paid

£124,094

Sales

746

Current Average Value

£186,073

Value Change

£61,979 49.9%

 

Current Asking Prices in S1 Average: £186,073

Property Type 1 Bed 2 Beds 3 Beds 4 Beds 5 Beds
Houses £71,032 (11) - £165,000 (1) £230,000 (1) -
Flats £103,696 (130) £165,770 (64) £292,500 (2) £95,000 (2) -
All £101,147 (141) £164,450 (65) £250,000 (3) £140,000 (3) -

Nearby Properties

93 bed () Waltheof Road, Sheffield S2 £4,700,000
0 bed Block of flats () West Bar Green, Sheffield S1 £3,000,000
0 bed Block of flats () West Bar Green, Sheffield S1 £2,750,000
0 bed Block of flats () West Bar Green, Sheffield S1 £2,750,000
0 bed Block of flats () West Bar Green, Sheffield S1 £2,750,000
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