Vulcan House,

Riverside Embankment, Sheffield

Vulcan House,
Riverside Embankment, Sheffield S3

Sector Office property

Project Scope Acquisition, investment management and disposal

Purchase Price £31m

Sale Price £50m

SQ FT 119108

Investment Rationale

  • High quality freehold Grade A office property situated in Sheffield CBD
  • Ground and 6 upper floors
  • Entirely leased to the UK Government on 7 individual leases with a complex break option regime
  • Opportunity to acquire at a low price due to complex lease structure and issues with car parking rights

Business Plan Completed

  • Property acquired in Q3 2016
  • Resolved the car parking rights to provide clear rights for the building
  • Negotiated a new single 20-year lease with the UK Government
  • Sold in Q2 2018

Team Involved

Winston Luk

Sam Resouly