INVESTMENT SALE - MKM BUILDING SUPPLIES, RUTLAND ROAD, SHEFFIELD
AWS completed in January 2007 the sale of a newly completed MKM Builders Merchants fronting Rutland Road approximately 1.5 miles North of Sheffield City Centre.Completion Date: 30/01/2007
The property comprised a 10,000 sq ft trade counter unit with approximately 20,000 sq ft of covered storage.The trade counter unit was of standard steel portal frame construction with pvc coated profile steel cladding and fitted out to provide an attractive and modern building services retail unit.
The property was pre-let to MKM Building Services Ltd on a 15 year term drawn on standard institutional full repairing and insuring terms.
The lease provided for fixed uplifts throughout the term equivalent to 2.5% per annum compound.
The commencing rental of £120,000 per annum was based on a rate of £6 per sq ft for the building plus £3 per sq ft for the covered storage with the covered storage being geared at rent review.