1 bedroom Studio flat in Sheffield

Apartment 505, Pearl Works, 2 Howard Lane, Sheffield, South Yorkshire S1 2FT
  • Lot No: 195
  • Property Type: Studio flat
  • Contract Type: Unconditional with Variable Fee

Guide Price* £30,000+ plus fees

Property Description

A superb investment opportunity comprising of a studio flat in a purpose built student block in the heart of Sheffield. The apartment is offered fully let and is a hands off investment opportunity with full management in place. A modern development constructed in 2015 which benefits from CCTV, Secure video entry system, Lift and High Speed Internet. Comprising of an open plan Lounge/Bedroom/Kitchen and En-Suite Shower Room. The sale includes the furniture package which comprises of Bed, Wardrobe and Desk/ The kitchen area has base and wall units, hob, fridge with freezer and microwave included. The rental income is £675 pcm / £8100 per annum. The service charge and ground rent amount to approx £4240 per annum. Therefore the Net income is £3660 per annum. A yield of over 10% Situated right next to Sheffield Hallam University and minutes from the vast array of shops, bars and restaurants along with the Train Station. A superb investment with income from day one.

Note

Photos and floor plans are for indicative purposes only and may not show the exact apartment.


Conservation Area

We have been made aware this property is in the Cultural Industries Quarter conservation area. Prospective buyers are advised to make all necessary independent enquiries prior to bidding, as any bid made will be binding.


Leasehold Information

200 years (less three days) from 19 December 2013. Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.


Satellite and Cable TV Availability

BT and Sky are available in this location.


Note

Information in relation to Mobile Phone Coverage and Broadband speeds is currently awaited. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.


Draft Sales Details

These sales details are awaiting vendor approval.


Tenure

Leasehold

Auction Details: The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales). Binding contracts of sale will be exchanged at the point of sale. All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law. Auction Deposit and Fees: The following deposits and non- refundable auctioneer’s fees apply:
  • 5% deposit (subject to a minimum of £5,000)
  • Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property. There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding. Additional Information: For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page. This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties). Guide Price & Reserve Price Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

Auction Details

Date 29th May 2025

Venue National Property Auction
Our national property auction will be broadcast online with live auctioneers. To bid by proxy, online, or by phone, please submit your registration form no later than 5pm the day before the auction.

Lot Information

Contact Us

If you have any questions, call our team on 0800 046 5454

Map

Apartment 505, Pearl Works, 2 Howard Lane, Sheffield, South Yorkshire S1 2FT