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16-34 Causeway Head Road, Dore, Sheffield, South Yorkshire, S17 3DT
Guide Price* : £395,000 plus
- Unbroken Freehold Ground Rent Investment plus Two (Effectively Freehold) Flats
- Approximately 34 Years Left Remaining Unexpired on the Leasehold Elements
- Two Residential Flats Producing An Income of £15,840 Per Annum
- Affluent Village Location
Description
General
The property comprises an unbroken parade of retail units, two residential flats and 10 associated garages.
The whole of the opportunity is owned Freehold under Title Number SYK462684 and comprises the following types: Number 16 (residential) plus garage, Number 18 (commercial) plus garage, Number 20 (residential) plus garage, Number 22 (commercial) plus garage, Number 24 (residential) plus garage, Number 26 (commercial) plus garage, Number 28 (commercial) plus garage, Number 30 (commercial) plus garage, Number 32 (commercial) plus garage and Number 34 (commercial) plus garage.
Numbers 18, 22, 24, 26, 28, 30, 32 and 34 are held long leasehold to third parties with approximately 34 years remaining unexpired to the leases.
Number 16 and 20 are (effectively freehold) two bedroom flats, both occupied under the terms of two separate AST Agreements as detailed in the below description.
16 Causeway Head Road
A first floor two-bedroom flat situated above (Whittingham Goddard Associates, Number 26) retail unit. The flat is accessed from the rear and provides two bedrooms, kitchen, living room, bathroom with WC and store. The property extends to approximately 55.61 sq m (598 sq ft). The flat has the benefit of a semi-detached brick built garage located to the rear side of the car park. The property is occupied under the terms of an AST Agreement from 5 August 2021 until 4 February 2022 at a rent of £625.00 pcm (£7,500 per annum).
20 Causeway Head Road
A first floor two-bedroom flat situated above (Kitchen Connections, Number 30) retail unit. The flat is accessed from the rear and provides two bedrooms, kitchen, living room, bathroom with WC and store. The property extends to approximately 50.34 sq m (542 sq ft). The flat has the benefit of a semi-detached brick built garage located to the rear side of the car park. The property is occupied under the terms of an AST Agreement from 1 April 2024 until 30 September at a rent of £695.00 pcm (£8,340 per annum).
Location
The subject property is located to the centre of the village of Dore, fronting Causeway Head Road at its junction with Dore Road and Devonshire Terrace Road. Causeway Head Road is the main road through the village and provides connections to the A625 and A621 of which both provide access to Sheffield city centre and to the Peak District National Park.
Dore is a large village in South Yorkshire approximately 6 miles south west of Sheffield city centre having a population of approximately 5,996 people.
The immediate area comprises a local shopping parade made of local independent service sector traders with large residential properties situated along Causeway Head Road and the adjoining Dore Road.
Tenure
The property is Freehold under Title Number SYK462684. The ownership summary is available in the legal documents under ‘Ownership Summary’. 1. The freehold is owned by the Vendor subject to a long lease (Tier 1 lease) at a ground rent. 2.The Tier 1 lease is owned by the Thorpes and is subject to a sub under lease (Tier 2 lease) at a ground rent to Edwin Gowers & Son Ltd (2) 3.Tier 2 lease ownership is not known. The entity may no longer exist. It is subject to sub-under-leases to the original owner/occupiers of each flat/shop. 4.Tier 3 leases are owned by various people.
Tenancy
16 Causeway Head Road - The property is occupied under the terms of an AST Agreement from 5 August 2021 until 4 February 2022 at a rent of £625.00 pcm (£7,500 per annum).
20 Causeway Head Road - The property is occupied under the terms of an AST Agreement from 1 April 2024 until 30 September at a rent of £695.00 pcm (£8,340 per annum).
Planning Authority
Sheffield City Council - www.sheffield.gov.uk
Legal Pack
The property is Freehold under Title Number SYK462684. The ownership summary is available in the legal documents under ‘Ownership Summary’.
Bidder Registration
Registration for bidding will close at 2:00 pm the day before the auction, after which we cannot guarantee giving you permission to bid at the auction.
VAT
Refer to the legal documentation
Energy Performance Certificate
16 Causeway Head Road (Residential Flat): D:59
20 Causeway Head Road (Residential Flat): D:57
Note
Completion is to take place before or on 10 July 2024.
The purchaser is to make a contribution to the Vendor's fees in the amount of £7,500 plus VAT.
Contact
Vendor's solicitor
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Administration Fee The successful purchaser will be required to pay the auctioneers administration fee of £1,800 inclusive of VAT on purchases of £20,000 and above and £600 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
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The successful purchaser will be required to pay the auctioneers administration fee of £1,800 inclusive of VAT on purchases of £20,000 and above and £600 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
Office Contact
Vendors Solicitor
Legal Documents
Log in to view legal documentsAgreement Documents
Additional Documents
Subject to Contract and Exclusive of VAT © Lambert Smith Hampton December 2024
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