Sheffield is the fifth largest regional city in the UK with a population of 576,000 and has recently seen extensive regeneration projects such as the Peace Gardens and Millennium Galleries, together with the Heart of the City scheme, which is regenerating the retail core.
Sheffield's central location gives easy access to many major conurbations, with Manchester only 45 miles to the west and Leeds 35 miles to the north. The city's position on the mainline rail network gives easy access to London St Pancras in under 2 hours, whilst in the city itself transport links are very strong, with the Super Tram system having been operational since 1994 and serving 50 stops.
The city has a strong educational reputation with a student population of 66,500, principally at Sheffield Hallam University and the Russell Group Sheffield University. Graduate retention rate is an above average 42% (source SHU) and is evidence of the vitality of the local economy.
The property is a roughly triangular level site extending 2.02 acres (0.82 hectares) in a very prominent location fronting on to Shalesmoor. The property comprises retail, warehouse and leisure uses and is accessed off Russell Street.
All the units are let on effectively full repairing and insuring terms with a service charge payable in respect of the common parts.
The property is elected for VAT and hence this will be payable on the purchase price unless the property can be transferred under the TOGC provisions.