40-50 Castle Square, Sheffield, South Yorkshire S1 2GF

Description

Description A landmark Sheffield building forming a familiar sight when approaching the city centre from Park Square roundabout and exceptionally well located for Sheffield Hallam University and comprehensive facilities including Supertram, the Railway Station and Ponds Forge International Sports Centre.

The Freehold building offers accommodation over 6 levels and benefits from planning for the creation of 21 apartments to the upper floors leaving the existing ground and lower ground floor commercial as income producing.

There are 17 one bedroom apartments and 4 two bedroom in addition to the creation of a roof garden.

4 of the 5 Commercial units are let, producing an overall annual income of £61,000 + VAT pa, in addition to service charges of £5,800 + VAT pa with an overall potential income when fully let in excess of £75,000.

The immediate vicinity is seeing a number of development projects under way, including nearby Canada House as a regional music educational hub and Commercial House also as residential.

The sale includes Esperanto Place at the rear where there are car parking spaces and a planning applicated submitted for gated access Accommodation Ground Floor & Lower Ground Floor Commercial 50 Castle Square - Sales shop 48 Castle Square - Sales Shop 46 Castle Square - Restaurant 44 Castle Square - Sales Shop 42 Castle Square - Sales Shop First Floor - Proposed - 6 Flats (5 one bed and 1 two bed) Rear Flat 1/1 - 44.1 Sq.M Front Flat 1/2 - 58 Sq.M Front Flat 1/3 - 59.8 Sq.M Front Flat 1/4 - 61.5 Sq.M Front Flat 1/5 - 61.5 Sq.M Front Flat 1/6 - 91.3 Sq.M (2 Bed) Rear Communal Workspace Second Floor - Proposed 5 Flats (4 one bed and two 1 bed) Front Flat 2/1 -42 Sq.M Front Flat 2/2 -44.1Sq.M Front Flat 2/3 -45.8 Sq.M Front Flat 2/4 - 45.8 Sq.M Front Flat 2/5 - 75.4 Sq.M (2 Bed) Rear Communal Workspace Third Floor - Proposed 5 Flats (4 one bed and two 1 bed) Front Flat 3/1 -42 Sq.M Front Flat 3/2 -44.1Sq.M Front Flat 3/3 -45.8 Sq.M Front Flat 3/4 - 45.8 Sq.M Front Flat 3/5 - 75.4 Sq.M (2 Bed) Rear Communal Workspace Fourth Floor - Proposed 5 Flats (4 one bed and two 1 bed) Front Flat 4/1 -42.3 Sq.M Front Flat 4/2 -44.1Sq.M Front Flat 4/3 -45.8 Sq.M Front Flat 4/4 - 45.8 Sq.M Front Flat 4/5 - 75.4 Sq.M (2 bed) Communal Workspace Site Area Approximately 994 sq m (1,189 sq yds).

Tenure Freehold Planning Planning permission was granted by Sheffield City Council on the 5th June 2026 for "Works to convert offices into 21 apartments, including new windows, elevation treatment and provision of a roof terrace".

Investment Analysis

Investment Snapshot

Underwriting basis. This is an indicative desktop appraisal. GDV is an estimated post-works/open-market value, not a guaranteed valuation. Comparable research is widened from the same street/postcode to the surrounding market up to approximately five miles where necessary.

Market Comparables

• Specialist asset: working market value is estimated from guide, asset type, income/development potential and local market evidence; midpoint £885,000.

HB estimated GDV: £814,000 low / £885,000 base / £956,000 high. The range reflects comparable quality, condition and the fact that auction stock can trade below normal owner-occupier market value.

Proposed Works

The allowance follows the auction description/visible condition and investor-standard refurbishment scope. It is not a structural survey or contractor quotation.

Strategy & Value Analysis

This is not a conventional single-dwelling BRRR/flip asset. The value case should be assessed using the specialist strategy appropriate to the property—income capitalisation, asset management, planning/development or land value—while still using the market-value range above as an indicative exit benchmark.

Key Risks

Confirm legal title/tenure, occupancy, planning/licensing, service charge/ground rent where relevant, structural condition, utilities, abnormal works and finance terms. Market comparables are indicative and should be refreshed immediately before bidding.