100% prime retailing location on Fargate, Sheffield’s premier pedestrianised retailing thoroughfare let at £385,000 p.a.

100% prime retailing location on Fargate, Sheffield’s premier pedestrianised retailing thoroughfare let at £385,000 p.a.
£4,295,000FreeholdSheffield S1 2HE
21st September 2020

Description

Key Information
– Freehold investment
– Entirely let to WH Smith Retail Holdings Ltd.
– Seven year unbroken term
– Comprising a total of 1,565 sq m (16,850 sq ft)
– Pedestrianised town centre location
– Passing rent of £385,000 p.a.

Tenancy
The property is let entirely to WH SMITH RETAIL HOLDINGS LTD. until 23rd June 2027 at a current passing rent of £385,000.

Description
The property is of Yorkshire stone construction under slate roofs. WH Smith comprises retail accommodation over ground, basement, first floor, with staff ancillary on the second and third floors. They have recently undertaken an expensive store refurbishment, demonstrating their commitment to the location. The property comprises a total area of 1,565 sq m (16,850 sq ft).

Location
Sheffield is the commercial centre for South Yorkshire and the major retailing destination for the region. The city’s prime retail pitch is linear, with 100% prime pitch being the pedestrianised Fargate on which the subject property is located, and extends south down Pinstone Street and thereafter The Moor. The majority of the UK’s main national multiples are represented including Marks & Spencer, TK Maxx, H&M, Boots, River Island, Next, and Waterstones. It has recently been announced that John Lewis will remain in its existing home on Barkers Pool, 300 metres from the subject property, which forms part of the revised plans for the £470m city centre regeneration. The council-led scheme in a JV with Queensbury is concentrated around Pinstone Street and is to include the creation of two new luxury hotels, as well as 1.5 million square feet of space for retailers, offices, restaurants and cafés.

38 - 40 Fargate, Sheffield City Centre, Sheffield, S1 2HE

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