60,000 sq ft mixed-use scheme in Rotherham hits the market

Rotherham Central, a major mixed-use scheme, is being launched to market by GVA.

The scheme offers a total of 59,496 sq ft of retail and residential space, split across 23 retail units and 61 PRS apartments, and has a total passing rent of £513,602 per annum.

The apartments spread across three buildings, which produce a gross income of £365,400 p.a. and retail units producing £115,602 p.a.

This is in addition to the current ground rent income of £11,000 with further value derived from parking available for 36 cars.

Retail tenants include online discount bridalwear company, Wed2b Ltd.

Comprising three buildings adjacent to Rotherham’s main retail centre along Effingham Street and College Street, Rotherham Central was developed in 2007.

Located six miles from Sheffield City Centre, residents benefit from access to public transport through both the rail and bus network, as well as close proximity to the M1.

Alex Sweetman from GVA said: “Rotherham Central is by far the largest-scale private rented sector-led development in Rotherham of recent years, and is underpinned by a strong lettings market and range of good quality retail tenants.

“The standard of construction, high specification of units and proximity to town centre infrastructure differentiate the three schemes from existing stock located both in the town and further afield, and we are confident that this will be reflected in the interest this opportunity receives.”

The opportunity is being offered as five individual lots, although other offers will be considered.

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