Residential Development / Investment Opportunity
1, 2, 3 & 7 St Peter’s Close, Sheffield S1 2EJ

City centre residential re-development opportunities with planning consent for residential conversion

On the instructions of LPA Receivers

Four former office buildings in Sheffield City Centre, one having been recently converted to provide
student residential accommodation


Freehold
Offers in excess of £950,000, subject to contract, required for the whole of the freehold interests or
available individually.
1, 2, 3 & 7 St Peters Close, Sheffield S1 2EJ
Residential Development / Investment Opportunity
LOCATION
Sheffield is the fourth largest city in the UK and the
principal administrative centre in South Yorkshire. The
city is located approximately 33 miles south of Leeds
and 22 miles west of Doncaster.
The properties are situated within Sheffield City Centre
just to the north of Sheffield Cathedral and the prime
shopping areas around Fargate and are proximate to
The University of Sheffield and Sheffield Hallam
University city campuses.
The properties are within the traditional business
district which is now undergoing substantial
transformation with many buildings being converted to
a mixture of student and private residential
accommodation.
St Peter’s Close is accessed from Campo Lane via
North Church Street and comprises a quiet cul-de-sac,
yet is close to many shops, bars, restaurants and other
facilities and public transport including Supertram.
PLANNING HISTORY
Planning Permissions
No. 1: Currently in use under use class C4, Houses of
Multiple Occupation.
No. 2: Detailed consent has been granted for
alterations and conversion to form 4 studio apartments
(Planning Ref. 13/01551/FUL).
No. 3: Detailed consent has been received for
residential conversion to 4 flats with a total of 10 beds
and one disabled car parking space. (Planning Ref.
13/03822/FUL).
No. 7: The property currently has consent for B1
offices, however conversion to residential is considered
appropriate with potential for at least 11 apartments
Permitted Development
Under the Town and Country Planning (General
Permitted Development) Order 1995 (as amended) the
following changes of use are permitted for B1:
A1 (shops), A2 (financial and professional services) or
A3 (restaurants and cafes) B8 (up to 500m) C3
(dwelling house) & D1 (state funded school or nursery).
The previous and existing planning consents for C3
and C4 use at No’s 1-3 set a precedent for the final
building in the block. We anticipate that planning
consent for the remaining building will be achievable.
Please rely upon your own investigations.
1 St Peters Close, Sheffield S1 2EJ
Income Producing Residential HIMO Opportunity
PRICE
Offers in excess of £195,000, subject to contract, are
required for this freehold interest. This reflects a net
initial yield of 8.5% allowing for purchasers costs at
2.52% and assuming the maximum cost of services is
utilised.
VAT
We are informed VAT is NOT payable on the purchase
price.
LEGAL COSTS
Each party is to be responsible for the payment of their
own legal costs incurred in connection with this
transaction.
DESCRIPTION
No 1 St Peters Close comprises a period three storey
building with basement which has recently been
converted into a 4 bedroom student house. There is
parking for 2 cars directly in front of the premises.
CONTACT
ACCOMODATION (Approx net internal areas)
Crosthwaite Commercial
Martin Crosthwaite
0114 272 3888
[email protected]
Ground
Kitchen/Living Room
First 2 Beds
Second 2 Beds
Basement
Bathroom/Store
Total
352 sq ft
32.7 sq m
382 sq ft
373 sq ft
35.5 sq m
34.7 sq m
196 sq ft
18.2 sq m
1,303 sq ft
121.1 sq m
Viewing arrangements, and any further information,
can be obtained from the joint agents –
DTZ
Richard Brooke
0113 233 8879
[email protected]
EPC
The premises have a rating of 60 (Band D). A copy of
the EPC is available upon request.
SERVICES
The Landlord is responsible for electricity, gas, and
water charges up to a maximum of £1,780 per annum.
TENURE
The premises are held freehold.
TENANCY
The property is let on a single Assured Shorthold
Tenancy expiring 30th June 2015, at a rental of
£18,720 per annum.
For illustration only
2 St Peters Close, Sheffield S1 2EJ
Residential Development Opportunity
PRICE
Offers in excess of £135,000, subject to contract, are
required for this freehold interest.
VAT
We are informed VAT will be payable on the purchase
price.
LEGAL COSTS
Each party is to be responsible for the payment of their
own legal costs incurred in connection with this
transaction.
CONTACT
DESCRIPTION
Three storey office building with considerable
character, previously providing offices at ground and
first floor levels and ancillary accommodation at lower
ground floor level.
There are 2 car parking spaces directly in front of the
building.
ACCOMODATION (Approx net internal areas)
Ground
First
Lower Ground
Total
930 sq ft
1,010 sq ft
646 sq ft
2,586 sq ft
86.4 sq m
93.8 sq m
60.0 sq m
240.2 sq m
Viewing arrangements, and any further information,
can be obtained from the joint agents –
Crosthwaite Commercial
Martin Crosthwaite
0114 272 3888
[email protected]
DTZ
Richard Brooke
0113 233 8879
[email protected]
EPC
The premises have a rating of 75 (Band C). A copy of
the EPC is available upon request.
PLANNING
Consent has been received for residential conversion
to 4 studio apartments. (Planning Ref.13/01551/FUL).
The building is currently vacant and partially stripped
out.
TENURE
The premises are held freehold.
For illustration only
3 St Peters Close, Sheffield S1 2EJ
Residential Development Opportunity
PRICE
Offers in excess of £195,000, subject to contract, are
required for this freehold interest.
VAT
We are informed VAT will be payable on the purchase
price.
LEGAL COSTS
Each party is to be responsible for the payment of their
own legal costs incurred in connection with this
transaction.
DESCRIPTION
This building, also known as Cloisters Chambers, is a
three storey office building with considerable character.
To the rear are 6 car parking spaces accessed through
an archway.
ACCOMODATION (Approx net internal areas)
Ground
First
Lower Ground
Total
1,203 sq ft
1,229 sq ft
777 sq ft
3,209 sq ft
111.8 sq m
114.2 sq m
72.2 sq m
298.2 sq m
CONTACT
Viewing arrangements, and any further information,
can be obtained from the joint agents –
Crosthwaite Commercial
Martin Crosthwaite
0114 272 3888
[email protected]
DTZ
Richard Brooke
0113 233 8879
[email protected]
EPC
The premises have a rating of 137 (Band F). A copy of
the EPC is available upon request.
PLANNING
Detailed consent has been received for residential
conversion to 4 flats with a total of 10 beds and one
disabled car parking space. (Planning Ref.
13/03822/FUL).
Ground
First
Lower Ground
Total
1 x 3 beds
1 x 4 beds
1 x 1 bed and 1 x 2 beds
10 beds
RATING ASSESSMENT
According to the 2010 Rating List, the premises are
assessed as follows:Offices & Premises
Rateable.Value
£32,000
TENURE
The premises are held freehold.
For illustration only
7 St Peter’s Close, Sheffield S1 2EJ
Residential Development Opportunity
TENANCY
The property is let to Sheffield City Council until August
2015 at a rent of £87,500 pa. The tenant is not in
occupation.
PRICE
Offers in excess of £425,000, subject to contract, are
required for this freehold interest.
VAT
We are informed VAT will be payable on the purchase
price.
LEGAL COSTS
Each party is to be responsible for the payment of their
own legal costs incurred in connection with this
transaction.
DESCRIPTION
Originally built in 1872 as a synagogue, this is a period
four storey office building with a basement car park for
8 cars. The building has its own unique character
stemming from its previous use as a place of worship
with large open plan spaces and exposed timber roof
trusses.
ACCOMODATION (Approx net internal areas)
Ground
First
Second
Third
Total
1,860 sq ft
1,720 sq ft
1,680 sq ft
1,540 sq ft
6,800 sq ft
172.8 sq m
159.8 sq m
156.1 sq m
143.1 sq m
631.8 sq m
CONTACT
Viewing arrangements, and any further information,
can be obtained from the joint agents –
Crosthwaite Commercial
Martin Crosthwaite
0114 272 3888
[email protected]
DTZ
Richard Brooke
0113 233 8879
[email protected]
RATING ASSESSMENT
According to the 2010 Rating List, the premises are
assessed as follows:Offices & Premises
Rateable.Value
£41,500
EPC
The premises have a rating of 142 (Band F). A copy of
the EPC is available upon request.
PLANNING
The property currently has consent for B1 offices,
however conversion to residential is considered
appropriate with potential for at least 11 apartments.
TENURE
The premises are held long leasehold for a term of 500
years from 2 February 1736 at a ground rent of £5 per
annum.
For illustration only
1, 3, 5 & 7 St Peter’s Close, Sheffield S1 2EJ
Residential Development Opportunity
PRICE
Offers in excess of £950,000, subject to contract, are
required for the collective freehold interests.
Alternatively we will consider offers for individual
buildings, offers sought in excess of:
No1
£195,000
No 2
£135,000
No 3
£195,000
No 7
£425,000
VAT
We are informed VAT will be payable on the purchase
prices, with the exception of No. 1.
LEGAL COSTS
Each party is to be responsible for the payment of their
own legal costs incurred in connection with this
transaction.
CONTACT
Viewing arrangements, and any further information,
can be obtained from the joint agents –
Crosthwaite Commercial
Martin Crosthwaite
0114 272 3888
[email protected]
DTZ
Richard Brooke
0113 233 8879
[email protected]
Note: The area marked
on the OS plan opposite is
the subject of a legal dispute and is currently excluded
from the title being offered. Further details on request
IMPORTANT NOTICE DTZ and Crosthwaite Commercial jointly give notice to anyone who may read these particulars as follows: 1. These particulars are prepared for the guidance only of prospective
purchasers. They are intended to give a fair overall description of the property but are not intended to constitute part of an offer or contract. 2. Any information contained herein (whether in the text, plans
or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact. 3. Nothing in these particulars shall be deemed to be a statement that the property is in
good condition or otherwise nor that any services or facilities are in good working order. 4 The photographs appearing in this brochure show only certain parts and aspects of the property at the time when
the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs.
Furthermore no assumptions should be made in respect of parts of the property which are not shown in the photographs. 5. Any areas, measurements or distances referred to herein are approximate only.
6. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any
necessary planning, building regulations or other consents have been obtained and these matters must be verified by any intending purchaser. 7. Descriptions of a property are inevitably subjective and
the descriptions contained herein are used in good faith as an opinion and not by way of statement of fact. April 2015