Wesley House, Highfield Place, Sheffield, S2 4UR

About the property

• Freehold sale
• Offers in the region of £1,100,000
• Fully let to a mixture of students and professionals on ASTs with current rental income of £83,564 per annum (20 bedrooms)
• Reversionary rental income subject to converting 3 lounges back to bedrooms
• £96,098 per annum (23 bedrooms)
• Set over 3 floors extending to 4,813 sq ft GIA
• Situated in a very popular area adjacent the busy Abbeydale Road in Sheffield
• Grade II listed
• A purchase at this level would reflect a NIY of 7.18% assuming purchasers’ costs of 5.85%. (Gross Yield of 7.6%)
• Reversionary Net Yield equating to 8.25% (Gross Yield of 8.75%)

The property is a stunning grade II listed period building of stone construction with a grand presence fronting onto Highfield Place set under a pitched slate roof. Arranged over ground floor, first and second floor the property extends to a total of 4,864 sq ft (GIA) with the main entrance from Highfield Place leading to the first floor. A separate rear entrance is at ground floor. (plans available on request)

Internally the property is utilised to offer 20 bedrooms, but this can easily be increased to 23 if certain lounges are converted back to bedrooms. The whole property has recently undergone a full refurbishment. Each floor has its own kitchen and bathroom facilities essentially creating 3 separate
flats. The property complies with all current regulations for HMO’s and other associated legislation. The property is currently fully let