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Division House 87 Division St 39 Unit Apartment Building $9,299,562 CAD ($238,450 CAD/Unit) 8.09% Cap Rate Sheffield S1 4LX
INVESTMENT HIGHLIGHTS
- 39 studio apartments with 2 ground floor commercial units and underground parking with a strong occupational history
- The residential part of the subject occupies the first, second and third floors producing a gross rent of £316,560 per annum
- Underground car parking separately let to South Yorkshire Housing Association at a gross rent of £17,956 per annum
- Sheffield City Centre location, surrounded by the shops and amenities of the city centre, and walking distance to both the University of Sheffield
- The two commercial units to the ground floor are both let producing a combined gross rent of £70,000 per annum
EXECUTIVE SUMMARY
Division House occupies a prominent position on Division Street within the Devonshire Quarter, in the heart of Sheffield city centre. The property benefits from good transport connectivity, with Sheffield Station located approximately 0.6 miles to the southeast, providing direct rail services to major destinations including Leeds, Manchester and London. Supertram stops at West Street and City Hall are within a short walk, offering links across the city and to Meadowhall.
The property is arranged over four floors and comprises 39 studio apartments on the upper levels of Division House, together with two ground floor retail units. Originally constructed in the 1970s as an office building, Westfield House, the property underwent a comprehensive conversion in 2018 to its current configuration.
The property is arranged over four floors and comprises 39 studio apartments on the upper levels of Division House, together with two ground floor retail units. Originally constructed in the 1970s as an office building, Westfield House, the property underwent a comprehensive conversion in 2018 to its current configuration.
PROPERTY FACTS
| Price | $9,299,562 CAD | Property Subtype | Apartment |
| Price Per Unit | $238,450 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 8.09% | Building Size | 16,818 SF |
| Tenure | Freehold | No. Stories | 4 |
| No. Units | 39 | Year Built | 1970 |
| Property Type | Multifamily |
| Price | $9,299,562 CAD |
| Price Per Unit | $238,450 CAD |
| Sale Type | Investment |
| Cap Rate | 8.09% |
| Tenure | Freehold |
| No. Units | 39 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Building Size | 16,818 SF |
| No. Stories | 4 |
| Year Built | 1970 |
AMENITIES
UNIT AMENITIES
- Heating
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 39 | $1,116 CAD | 700 |
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Division House | 87 Division St
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