Member Article

Private investor acquires Sheffield Broomhill offices for undisclosed 7 figure sum

The Sheffield-based property agency Commercial Property Partners (CPP) has advised on the acquisition of Grade II* landmark offices in the popular Sheffield suburb of Broomhill.

CPP acted for a local private investor, who bought The Mount in Glossop Road, Broomhill, for an undisclosed seven-figure sum, equating to a yield of 12%.

The Mount is a well-known office building in Broomhill, having once been the headquarters for General Accident and Norwich Union, before being let to its current tenants the NHS and Voice Marketing.

Rob Darrington, a partner with CPP, explained: “The Mount is an extremely attractive and elegant building, featuring a campus-style complex of two substantial buildings set within their own grounds. It comprises 39,000 sq ft of quality office space, with ancillary storage and car parking.

“The building was originally a terrace of eight houses, constructed in about 1830, by the local architect, William Flockton, with a design followinga trend set in London’s Regent Park, which saw the construction in the style of a county mansion, but in fact contained several genteel dwellings.

“Flockton then used this design as a basis when he built the nearby Wesleyan College (now King Edward VII School), also in Glossop Road in 1838. The Mount is mentioned in Nikolaus Pevsner’s seminal work The Buildings of England and is a very significant part of Sheffield’s architectural heritage. It will be cherished accordingly,”

“The freeholders of The Mount got into difficulties and ultimately went into receivership. This presented an excellent investment opportunity for our client, who is determined to ensure the heritage building is preserved and enhanced for the future” explained Mr Darrington.

CPP was only founded last September but, as Rob Darrington said, “we have hit the ground running.”

He explained: “We are now an established player in the region, having been involved in a raft of deals across all sectors of the commercial property market.”

“Our regional focus is on Yorkshire, the North Midlands and the North East. Few, if any, of our rivals cover this extensive area from one office, so our large geographical scope gives us a major advantage when advising our clients and sourcing and concluding deals,” he added.

This was posted in Bdaily's Members' News section by Clare Burnett .