* Freehold
**Key Points**
* Freehold Motor Repair Garage / Showroom Investment For Sale
* Current passing income of £50, 000 pa
* Located on Old Penistone Road, a short distance from Penistone Road in Sheffield
* Fully let to two tenants, t/a Motor Mates and Pulse Cocktails (both in occupation for approximately 17 and 22 years respectively))
* Short / medium term asset management opportunities
* 8534 sq ft (792. 83 sq m) gia within a site of 0. 442 acres
**Description**
The property was originally utilised as a motor repair garage and showroom for
many years. It currently accommodates tenants t/a ‘Motor Mates’ and ‘Pulse &
Cocktails, ’ who have independent separate leases.
182 - 198 Old Penistone Road is a garage workshop of brick and steel frame
construction. The internal accommodation includes an open working space. The
internal accommodation includes a concrete floor, suspended lighting, two
roller shutter doors, translucent lights, 3 - phase electricity, internal
drainage, office, kitchenette and WC facilities. The property benefits from
security shutters to the window frontage. The front roller shutter is 3. 65m in
height x 3. 09m width. The side roller shutter door is 3. 23m in width x 3. 57m
in height. The eaves height is 3. 44m in height at its minimum and 5. 48m at
maximum. Externally there is a yard and parking area, with a metal fencing
boundary. The property benefits from electricity, gas, water and drainage.
168 - 180 Old Penistone Road is a one storey showroom premises of brick
construction with a flat roof. The internal accommodation includes a sales
space which has been partitioned, with ancillary office, stores, and WC
facilities. There is access via a front and side door with a side roller
shutter door. The accommodation benefits from electricity, gas, water and
drainage. The internal accommodation includes carpets, suspended lighting,
plastered walls, and strip lighting. Externally there is a yard / parking
area.
**Location**
The property fronts onto Old Penistone Road, which is accessed from Penistone
Road (A61), which is a key route into and out of Sheffield city centre and
it’s northern suburbs. The property is located approximately 1. 8 miles from
Sheffield city centre. The area is a very established industrial, trade
counter and vehicle dealerships area with many well known operators within the
area, including Mazda Sheffield, Lexus, Volvo, Toyota, etc.
**Tenure**
The property is offered for sale on a Freehold basis subject to the current
tenancies stated within these details.
Freehold - Title Number: SYK552645
**Tenancies**
168 - 180 Old Penistone Road - This part of the property is subject to a lease
dated 13th October 2017, let to (t/a Pulse & Cocktails) at a rent of £23, 000
pa. 3 year lease from 1st June 2017 until 31st May 2020 with the tenant
currently holding over. Fri lease terms. This lease is protected under the
1954 Landlord and Tenant Act. Tenant is Cocktails Limited (Company no: Old
Penistone Road - Motor Mates (South Yorkshire) Ltd (Company no: 07592029) are
the tenants of this part of the property. Let on a new two year lease at a
rent of £27, 000 pa from 1st July 2023. Fri lease terms. This lease is
contracted out of the 1954 Landlord and Tenant Act.
Both tenants are long standing with Motor Mates in occupation for
approximately 17 years, and Cocktails Ltd in occupation for approximately 22
years.
The total current approximate income is £50, 000 pa. Further details are
available by request.
**Asset Management Potential**
The industrial market in Sheffield is considered to be in a prolonged period
of strength with increasing owner occupier, tenant and investor demand. We are
of the opinion there are short to medium opportunities to secure improved
rents on longer term leases, or potential for owner occupation of 182 - 198
Penistone Road at lease expiry.
**Price**
£735, 000. We are informed that VAT is not payable.
**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.

Property location on the map: Use mouse double click to (Zoom IN: LEFT button; Zoom OUT: RIGHT button)

Similar properties: