25 Jun 2022
A former MOT workshop on Burton Street, Sheffield has been sold by SMC Brownill Vickers.
Francois Neyerlin at SMC Brownill Vickers was instructed by a local private vendor to market 49 Burton Stret, Sheffield. The property comprised of a rectangular site of 0.113 acres, which contained a dilapidated workshop and two storey building with front yard area. The property offered potential for commercial owner occupation or development potential.
Marketed at a figure just under £200,000 for the freehold interest, the property generated a very high level of interest from mainly local businesses looking for business space for owner occupation. Following multiple bids via best bids process, a local buyer was found at a figure above the asking price. The new buyer is now reconfiguring the site and buildings in order to use the property for their motor vehicle repair business.
The level of buyer interest and sales price achieved, highlight the scarcity of industrial property and land in Sheffield, suitable for small and medium size businesses. This shortage has pushed up rents and capital values with limited new stock being built.
Do you have an industrial building you thinking about selling? SMC Brownill Vickers can help market your industrial property and maximise sales proceeds.