Sheffield’s Division House hits the market
The 17,000 sq ft mixed-use property, comprising 39 studio apartments, two ground-floor commercial units, and underground parking, has been put up for sale for £5m.
Lambert Smith Hampton is handing the sale of the four-storey building on behalf of MCR Property, which acquired the BTR back in 2017.
Originally constructed in the 1970s as offices, Westfield House, as it was then known, was refurbished and reconfigured in 2018.
In terms of income, the residential units, which are located on the first to third floors, generate a gross annual rent of £316,560, while the commercial units produce £70,000 per year.
The underground parking, leased separately to South Yorkshire Housing Association, contributes an additional £17,956 annually, bringing the total gross income to £404,516 per year.
The development is in the centre of Sheffield, within walking distance of both the University of Sheffield and Sheffield Hallam University, as well as the city’s shops, transport, and amenities.
