Residential Investment / Development Opportunity

7, 9-11 & 13 MONTGOMERY ROAD SHEFFIELD, S7 1LN

Attractive refurbishment opportunity close to Sheffield City Centre Tenure The Sheffield Hallam University Collegiate Campus INVESTMENT CONSIDERATIONS also runs along the road, which houses nursing, Freehold psychology and paramedics courses. The Sheffield ■ Three Unbroken Freehold Properties situated on the same large plot Botanical Gardens are approximately 1 mile from the Location property, listed by the English Heritage as a site of ■ Comprising 29 self-contained flats in total, arranged to provide; special historic and architectural site. The subject property is located in Sheffield, South ■ 24 x one beds Yorkshire, which has a population of approximately ■ 3 x two beds 580,000. The city is located 38 miles east of ■ 1 x three bed Manchester, 42 miles south of Leeds and 45 miles north of Nottingham. It is a very well-connected ■ 1 x four bed city, with the M1 motorway running parallel to the ■ Gated parking to the rear of the properties, with ample spaces for all flats city and within close reach, providing good access to the north and south of the country, as well as ■ Attractive refurbishment or re-development opportunity connecting to the M62 motorway in the north. ■ Estimated Rental Value (Fully Let) – Existing condition - £163,154 per Sheffield Train Station has regular, direct routes annum to various cities, including Leeds (40 minutes), ■ Estimated Rental Value (Fully Let) – Light Refurbishment - £197,700 per Manchester (50 minutes) and Birmingham (1 hour 10 annum minutes). There is also a direct service to London St Pancras, taking approximately 2 hours 10 minutes. ■ Estimated Rental Value (Fully Let) – Complete Refurbishment - £253,320 per annum The city benefits from the SuperTram network, running throughout the city centre to Meadowhall ■ Situated within the suburb of Sharrow, an attractive residential location and Rotherham in the east and Middlewood in the within close proximity to Sheffield City Centre north. Sheffield has recently undergone a large regeneration scheme, the ‘Heart of The City’ project was completed in 2016, which included building the Sheffield Peace Gardens, transforming the Town Hall, improvements to the City Library and upgrading the ‘Theatre District’. Following its success, the development of ‘Heart of the City II’ has now begun. This comprises a £469million, 7 hectare, mixed use scheme designed to attract more workers, investment and visitors to the city. It will include the development of existing listed buildings, as well as introducing various new blocks.

The Property is located in the Sharrow area of Sheffield, which is 1.2 miles to the south-west of the city centre. The main road in the area is Ecclesall Road, which is home to a vast range of restaurants, bars, cafes and shops, many of which are independent, but with some high street names. For indicative purposes only xx Situation

The Property is located on the south side of Montgomery Road, 1 mile to the south west of the city centre and a 10 minute walk (0.5 mile) from Ecclesall Road. The immediate area surrounding the Property is residential, characterised by large detached and semi- detached houses. Empire Road is to the east of the subject, which provides access on to Abbeydale Road (A621). The M1 to the east can be accessed via the A6135 Description

The subject comprises three stone built period buildings converted in 2000 to provide 29 self-contained flats in total. Each block benefits from small grassed gardens to the front, from which each block is accessed via a main door - per block. Most flats are accessed via these main entranceways, although some flats do have individually self-contained external access points.

To the rear of all blocks is a connected tarmacked car park, which provides ample car parking for all flats. Access to this car park is gated from the rear, and pedestrian access is also afforded via metal side gates to each property.

The Hollies, 7 Montgomery Road comprises five flats in total, arranged to provide 3 x one beds, 1 x three bed and 1 x four bed flats.

The Beeches, 13 Montgomery Road comprises seven flats in total, arranged to provide 6 x one beds and 1 x two bed flats.

The Woodlands, 9-11 Montgomery Road comprises seventeen flats in total, arranged to provide 15 x one beds and 2 x two bed flats. Current Rent Reserved

Currently, 21 out of the 29 flats are let subject to Assured Shorthold Tenancies, producing an income of £118,140 per annum.

We understand the majority of tenants are now holding over and not subject to fixed tenancies terms. Development / Refurbishment Potential

The properties are generally in poor condition, requiring attention both inside and out. In order to maximise their rental income and enhance value, the properties will benefit from a light refurbishment or a complete refurbishment.

We consider a light refurbishment to include general décor improvements only, but no large scale works. A complete refurbishment, will include replacement of; kitchens, bathrooms, carpets, heating systems, electrics and décor etc.

Our Estimated Rental Values are based on the above assumptions.

The properties are located within a popular residential location and a healthy local rental market, and we are of the opinion that the greatest value will be through refurbishment.

We understand the properties are located in a conservation area, but are not listed. We recommend undertaking the necessary due diligence prior to commencement of any refurbishment works.

Planning

Sheffield City Council https://www.sheffield.gov.uk/home/planning-development/ search-view-comment

0114 203 9183

We understand the property is located in a Conservation Area. Additional Information Energy Performance Certificates 7, 9-11 & 13 The following documents are available within the download section of EPCs can be viewed/downloaded from the data room. the website: www.datarooms.allsop.co.uk/register/Montgomeryroad Montgomery Road Sheffield, ■ Detailed Accommodation and Tenancy Schedule Contacts S7 1LN ■ Sample AST For further information please contact: ■ Energy Performance Certificates

Jack Robson Brad Harris Viewing Information 0113 243 7952 0113 243 7952 [email protected] [email protected] We will be undertaking viewings during the course of marketing. If you wish to internally inspect, please register your interest with the office. James Wilson 0113 236 6679 Proposal [email protected] Offers in excess of £2,250,000 are invited for the Freehold interest, subject to Sheffield City Centre all existing tenancies, subject to contract.

Subject

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. allsop.co.uk