Addington Capital sells in Sheffield

Wellington House

Addington Capital, the investment and asset management property specialist has sold two buildings in Sheffield:

Wellington House (Wellington Street) was sold to Code Students Limited for £1.8million. The building comprised of 12 flats and a ground floor retail unit measuring 3,000 sq ft.

Princess House, a 43-bed student scheme, was sold to Denvil Developments Ltd for £1.7m. The building is divided into seven flats, and following refurbishment by Addington, now has full occupancy. The building was sold with a planning consent in place to convert to 26 flats, which included the addition of two additional storeys.

The schemes had originally been bought as part of the Prospect portfolio, bought in joint venture in January 2016

Commenting, Roshan Ramlugun of Addington Capital said, “These asset sales demonstrate the liquidity of well-located properties in Sheffield city centre, where the fundamentals remain strong, notwithstanding the uncertain UK economic outlook.”

“Addington will continue to seek properties where we believe we can add value through re-working or redeveloping.“