147-149 Gibraltar Street

Key Points

• Great corner position
• Ground floor with basement commercial premises suitable for a variety of retail uses
• Located on key thoroughfare between Sheffield city centre and Kelham Island
• Small business rate relief should apply for an ingoing tenant
• Available on a new lease direct from the landlord

Description

The property has most recently been used as a decoration / paint shop, although may be suitable for a variety of retail / Class E uses. The accommodation includes a corner positioned retail area with a prominent shop window frontage. There is further accommodation to the basement which could be used for storage purposes. The property benefits from a traditional shop frontage with good natural light. The property will require a fit out by an ingoing tenant and the landlord is open to a suitable rent free for the right tenant.

Location

The property is located on the corner of Gibraltar Street and Furnace Hill, which is a thoroughfare between Sheffield city centre and Kelham Island. The property is located within a retail parade of shops with traditional shop window fronts. The location is within and surrounded by areas undergoing regeneration including Kelham Island, West Bar and Sheffield City centre.

Within the parade there are a number independent occupiers including Pearson & Earl’s Barbershop, M Hotpot or Skewer, Lost in West Bar, Native Restaurant, and W Cake or Bread. The property is located opposite the Shakespeare public house, and within walking distance of The Gym Group, Riverside Kelham, Tesco Express, The Fat Cat, etc.

Rating Assessment

Based on information obtained from the Valuation Office Agency websites the demise is rated as follows:-

Address: Grd Fl 147-149, Gibraltar Street, Sheffield, S3 8UA
Description: Shop and premises
Rateable Value: £5,800

The property should qualify for Small Business Rate Relief. Interested parties are advised to make their own enquiries with the Local Authority for verification purposes

Planning

We understand the property was most recently used as a decorator / paint shop. The property may be suitable for a variety of retail and service uses (Class E) and we would encourage interested parties to verify that their intended use is suitable with Sheffield planning authority.

Lease Terms

The property is available on a new lease on terms to be agreed, for a minimum of a 3 year lease (ideally longer, say 5 years or longer). The landlord will not allow barbershop uses.

Rent Deposit

The landlord will seek a minimum 3 month rent deposit to be held over the terms of the lease.

Rent

£16,000 pa. Rent to be paid monthly or quarterly. We are informed VAT is NOT payable on the rent.

Available Area