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Broughton House comprises a substantial mixed-use building arranged to provide a ground floor commercial unit with 48 self-contained residential apartments above. The residential accommodation has been sold on long leasehold interests, providing the freeholder with a secure ground rent income while minimising day-to-day management responsibilities. The commercial unit is separately let on Full Repairing and Insuring lease terms.
The residential element comprises 48 apartments, each let on 150-year leases from April 2006. The leases produce a current aggregate ground rent of £7,200 per annum (£150 per apartment), with rent doubling every 25 years throughout the lease term.
The ground floor commercial premises are let to BEST Solicitors Limited on a 5-year Full Repairing and Insuring lease commencing 28 June 2025 at an initial passing rent of £46,002 per annum exclusive. There is a fixed increase to £50,000 per annum exclusive in June 2028. The tenant has a break option at the third anniversary of the lease, exercisable upon six months’ prior written notice.
Broughton House occupies a prominent frontage on West Street, one of Sheffield City Centre’s principal commercial thoroughfares. West Street is recognised as one of the city’s most established mixed-use locations, characterised by a diverse range of retail, leisure, office and residential accommodation. The surrounding area benefits from high levels of pedestrian activity throughout the day and evening, supported by an extensive range of cafés, restaurants, bars and convenience retailing. The property is situated within walking distance of Sheffield Railway Station, the Cathedral Quarter, Fargate, Division Street, the Heart of the City development and both Sheffield universities. West Street Supertram Stop is located immediately adjacent, providing excellent connectivity across the city. Directly opposite is the Leopold Square development, incorporating the 90-bedroom Leopold Hotel together with restaurants including Wagamama, Zizzi, Cubana and Kuckoo
Chris Harrison | Daniel Holland-Bunch
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