This property is situated on the eastern side of Middlewood Road in the Hillsborough suburb of Sheffield, conveniently located near the bustling junction with Hillsborough Corner. The area boasts a diverse array of local businesses, including well-known retailers like Home Bargains, B&M, Boots, and Wilko, alongside an assortment of unique shops, cafes, and pubs that enhance the vibrant community atmosphere. Public transport accessibility is a significant advantage here, with numerous bus routes and the Supertram service running along Middlewood Road.
The building itself spans from basement to third floor and currently houses Café Boo, a well-regarded eatery that has maintained its presence at this location for approximately seven years. The ground floor offers around 405 square feet of café/retail space within a total building area of 2,083 square feet. This layout not only provides a functional commercial space but also reveals potential for redevelopment opportunities on the upper floors into residential units, pending necessary planning approvals.
Additionally, the property includes two dedicated parking spaces at the rear, which is a valuable asset in this urban setting. A lease is in place with the current tenant until August 29, 2028, generating an annual rent of £18,000.
The freehold ownership structure allows potential investors to benefit from existing rental income while exploring various options for future enhancements or alternative uses for the property. Previous planning permission existed for converting the upper floors to a house in multiple occupation (HMO) accommodating up to six occupants; although this approval has lapsed, it demonstrates the viability for residential development in this attractive location.
As part of Use Class 'E', the property offers flexibility regarding its use moving forward. The rateable value as assessed in 2023 stands at £16,000 for 'Shop and Premises,' indicating a favorable position for prospective tenants or investors alike. An Energy Performance Certificate rating of 'E' is available upon request for further transparency regarding energy efficiency.
This property presents both immediate income generation through its established tenant as well as promising long-term investment potential through renovation or redevelopment options nearby essential amenities and strong transport links.
