Summary - LIFESTYLE HOUSE, 2 FLAT 2 MELBOURNE AVENUE SHEFFIELD S10 2QH
1 bed 1 bath Residential Development
36 apartments with established income, communal amenities and large landscaped garden near Broomhill.
- Freehold purpose-built retirement community on a very large plot
- 36 one- and two-bedroom apartments plus caretaker accommodation
- Current gross income £99,262 per annum
- Mixed tenures: long ground leases, ASTs and non-assignable long-leaseholds
- Inherent equity in non-assignable long-leasehold interests
- Asset management and rental-enhancement potential to increase value
- Built 1984/85 — likely need for ongoing maintenance and refurbishment
- Communal Village Club, walled garden, guest suite and laundrette
Set on a very large plot in leafy Broomhill, this purpose-built village offers 36 one- and two-bedroom apartments plus a caretaker’s flat and communal Village Club. The freehold asset produces a current gross income of £99,262 pa and includes a walled garden, residents’ lounge, laundrette, guest suite and staff accommodation — all arranged over lower ground, ground and first floors.
Ownership is mixed: long ground leases, Assured Shorthold Tenancies and non-assignable long-leasehold interests. That split creates an operational income stream now, while also presenting inherent equity in the non-assignable long-leaseholds and clear asset-management opportunities to enhance returns.
The building dates from 1984/85 and has been maintained for independent living for over-50s. Prospective purchasers should allow for ongoing maintenance and planned refurbishment to modernise apartments and maximise rental or capital value. The site’s scale, freehold title and location near university campuses, shops and parks make it attractive to investors targeting specialist retirement accommodation.
This is a hands-on investment: immediate income is in place, but the mixed-tenure structure and ageing fabric require active management and capital to unlock full potential. The property suits a buyer able to operate and improve an established retirement community in a desirable Sheffield suburb.
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