Location

Sheffield is the UK's most centrally located city region; situation adjacent to the M1 Motorway and sitting approximately 35 miles south of Leeds, 38 miles east of Manchester and 150 miles north of London. It is the 4th largest city in England with a population of c.585,000 across the district.

ROAD

The city is well connected to the national motorway network, with the M1 motorway to the east (approx. 5 miles) providing ease of access to the north and south of the country. Sheffield is also within a short distance of the M62 motorway, which provides an east to west connection linking Liverpool, Manchester, Leeds and Hull.

RAIL

Sheffield Railway Station provides direct access to major cities within the UK. The station benefits from regular services throughout Yorkshire and to the major hubs of London, Manchester and Leeds. The fastest train from Sheffield to London St Pancras is approximately 2 hours.

TRAM

Sheffield benefits from its own Supertram network which comprises 50 stations across 4 different lines. The tram provides access to a number of attractions across Sheffield and neighbouring town Rotherham as well as connecting with other transport services such as bus and train stations.

AIR

Sheffield is ideally located within an hours drive of 4 international airports.

Doncaster Sheffield Airport - 25 Miles
Manchester Airport - 41 Miles
Leeds-Bradford Airport - 44 Miles
East Midlands Airport - 53 Miles

Situation

St James House is situated in a highly prominent position at the junction of Campo Lane and Vicar Lane within the heart of The Cathedral Quarter of Sheffield City Centre.

The property benefits from its close proximity to excellent public transport links. The Cathedral station on the Sheffield Supertram line is within 150m walk. The property is well located for the local road network, with the main A57 Broad Lane (Ring Road) providing easy access to Sheffield City Centre and the wider areas.

The property is ideally positioned to benefit from bars, cafes and restaurants and also the city's primary retail area. The city is a major educational hub with a student population of approximately 60,000 students across Sheffield Hallam University and the University of Sheffield.

Sheffield Regeneration

Further information can be found within the marketing particulars.

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Description

The property comprises a refurbished modern office building which provides flexible accommodation arranged over lower ground, ground and 11 upper floors. The property has a total net internal area of 57,243 sq ft. The property provides a total of 21 car parking spaces at a ratio of 1:2,726 sq ft.

The property was constructed in the 1960s and finished to a high specification. The building has been well maintained and has been refurbished on a floor by floor basis. Recent works have included full window replacement and the installation of a new air conditioning and heating system.

The property now benefits from the following specification:

• LED Lighting
• New Air Conditioning and Heating System
• EPC C
• Kitchen
• Recessed Lighting
• Security System
• Choice of exposed services or suspended ceiling system
• Flexible open-plan offices
• Refurbished WCs on each floor
• 3 Passenger lifts in the main core

ACCOMMODATION

The property has been measured in accordance with the RICS Code of Measuring Practice (6th Edition) and comprises the following net internal floor areas which can be viewed in the link below.

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Tenure

The Property is held freehold with the exception of part basement 1, 2 and 3 as per title number SYK240698.

The NCP car park and ground floor restaurant on Campo Lane have been sold off on a long leasehold basis.

The ground floor car park on Campo Lane is included in the vendors demise.

Tenancy

The property has a passing rent of £646,485, equating to a low rent of only £11.29 per sq ft overall. The WAULT is 2.64 years to expiry and 1.33 years to break. An excel tenancy schedule can be provided on request.

Covenant Information

Covenants 6 Tenants 60% of Let Income

THE GREAT ESCAPE GAME (09341838)

5% OF INCOME

The Great Escape Game is a live escape room experience, whereby teams have an allotted time to escape a locked room through solving puzzles and clues. The company was established in 2015 with the occupancy of a site in Sheffield and expanded into Leeds in 2016 and another in 2020. The team grew throughout this period, with the introduction of a creative team and sales team.

ETICO GROUP LIMITED (05942713)

16% OF INCOME

Etico Group comprises an FCA regulated claims management business and insurance brokerage based entirely in the UK. The core focus of the business is financial claims in which to date, the company has recovered over £100 million globally from financial institution in respect of missold Payment Protection Insurance (PPI) and mis-sold Packaged Bank Accounts (PBA).

REED IN PARTNERSHIP LIMITED (00851645)

20% OF INCOME

Reed are the UK's largest family-owned recruitment brand, with over 500 employees across 35 offices across the UK. The company now also operates through parts of Europe and South Korea. The company provides services including, employment agency, recruitment, human resource consulting and outsourcing.

BREAST CANCER NOW (09347608)

9% OF INCOME

Breast Cancer Now the only specialist UK-wide charity in the UK providing care, support and information to anyone affected by breast cancer. The charity's headquarters are in London, with additional offices in Cardiff, Glasgow and Sheffield.

Due to being a charity, the income for the company varies across Donations, Charitable Activities, Investments and other trading activities. The company is a non profit organisation, therefore total cash and cash equivalents have therefore been included in the KPIs below.

WT PARTNERSHIP LIMITED (01130989)

6% OF INCOME

WT Partnership is a wholly independent, privately owned construction and property consultancy providing services throughout the world including the UK, Mainland Europe, North America, Middle East, Asia and Australasia and employ over 1,400 staff.

CARTWRIGHT KING LIMITED (10143062)

6% OF INCOME

Established in 2000 Cartwright King is an award winning UK based legal 500 firm. The company provides an array of legal services to people looking for personal advise. Cartwright King operate from a total of 11 offices across the UK including Sheffield employing 171 staff members throughout these locations.

Sheffield Office Market

Further information can be found within the marketing particulars.

Investment Market Commentary

Further information can be found within the marketing particulars.

VAT

The Property is elected for VAT.

EPC

The property has an energy performance rating of C74. The Energy Performance Certificate is available on request.

DATA ROOM

A data room is available on request.

ANTI-MONEY LAUNDERING STATEMENT

In order to discharge its legal obligations, including under applicable anti-money laundering regulations, vendor's agents will require certain information of the successful bidder. In submitting a bid, you agree to provide such information when Heads of Terms are agreed.

Proposal

to seek offers in excess of £6,500,000 (Six Million, Five Hundred Thousand Pounds) subject to contract and exclusive of VAT.

A purchase at this level reflects a net initial yield of 9.33% and a reversionary yield of 11.59%, after assuming purchaser's costs of 6.63% and a low capital value of approximately £114 per sq ft.

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