Major Sheffield shopping centre set to be sold at auction for £2.25million

A shopping centre in a Sheffield neighbourhood is set to go under the hammer for a guide price of £2.25million.

Friday, 12th March 2021, 8:29 am

The auction for the Exchange Shopping Centre in Hillsborough is scheduled to take place on Thursday, March 25 and will be broadcast online from www.Acuitus.co.uk

The 91,933 sq ft shopping centre on Middlewood Road comes 98 per cent let to tenants including Boots, Superdrug, Wilko, Home Bargains, Holland & Barrett and Specsavers.

Peter Mayo of Acuitus, who are arranging the auction, said: “Hillsborough Exchange is a well-occupied shopping centre.

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The Exchange Shopping Centre in Hillsborough is set to be sold at auction, with a guide price of £2.25million
The Exchange Shopping Centre in Hillsborough is set to be sold at auction, with a guide price of £2.25million

"It benefits from excellent transport links with two tram stops which provide access to and from Sheffield City Centre. Hillsborough Interchange is close by too which connects the area with buses from Sheffield, Rotherham and the local area.”

A spokesperson for Acuitus, a commercial real estate auctioneering and investment company, said the Exchange brings in a gross annual income of £823,379.

The shopping centre has a total of 27 units and four kiosks.

The majority of its retail units trade at ground floor level, with one unit trading from ground and first floor.

The Exchange Shopping Centre in Hillsborough is set to be sold at auction, with a guide price of £2.25million

Some 90 per cent of units at the shopping centre are let to national tenants.

The property also has a rooftop customer car park that is comprised of over 100 spaces, and can be accessed from Procter Place.

The Exchange was originally built in 1988 and is comprised of a covered shopping centre that has pedestrian access from Middlewood Road and Bradfield Road.

Interested buyers can submit bids by telephone, online or by submit a bid by proxy.

For more information, please visit: https://www.acuitus.co.uk/property/4097/

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