freehold Residential Ground Rent Investment - Sheffield City Centre
This is a unique opportunity to acquire the freehold interest of 10x residential ground rents.
Bishops Lodge is a Grade II Listed building, constructed early 19th Century and originally comprised the Sunday School for the adjacent Methodist Church.
The property has had a number of uses over recent years, and was ultimately converted to 10 high quality apartments in 2005, retaining many attractive original building features.
This development is right in the heart of Sheffield City Centre, connecting West Street and Division Street, yet has the benefit of a secluded and private location on Rockingham Lane.
Each ground lease expires in 2208, leaving approximately 182 years until expiry.
The ground rent for each lease is currently £150pa (£1,500pa in total), with a fixed uplift to £300pa per ground lease in 2034 and fixed uplifts every 25 years thereafter.
There is the ability to charge and manage a Service Charge for the (nominal) common parts and building fabric.
There are further mechanisms for income within the leases, such as consent to assign the interest each time an apartment is sold.
Note that the title does not include any car parking and some occupiers have separate agreements to park within the adjacent car park.
