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Mixing it up for Longmead Capital

By August 2018 Transactions

ACRE Capital Real Estate acting on behalf of Longmead Capital have advised on this mixed use asset in Sheffield. Citygate was acquired from Blackstone for 17,825,000 which reflects a 6.95% NIY and a Capital Value per sq ft of only 140.

The property comprises a multi-let office and a 126 bed Premier Inn Hotel totaling 126,642 sq ft. It is multi-let to 5 tenants for a further 14 years. It produces a rental income of 1,322,758 per annum.

Location: Citygate, St Mary’s Gate, Sheffield
Property Type: Office/ Hotel
Transaction Type: Acquisition
Client: Longmead Capital