Allsop has been instructed to handle the sale of 73 freehold properties across two neighbouring streets in Leeds, Yorkshire.
The Elland Portfolio, which comprises of 44 flats and 29 houses make up the entirety of the two streets located in Beeston, just 2.6 miles from Leeds City Centre.
Allsop has been instructed by Andrew Foster of Bilfinger GVA to handle the sale on behalf of Deloitte LLP following Angelic Interiors Limited, the portfolio owners, going into administration this year. It is estimated that the portfolio could raise £403,500 in revenue per year, presenting a rare and unique opportunity for investors looking to capitalise on the growth of a key city in the northern powerhouse region.
James Wilson, Residential Investment and Development Partner at Allsop in Leeds, comments: “This is a once in a lifetime opportunity for an investor to purchase a portfolio of homes across two entire streets, in an area that is also benefitting from improving regional employment and economic growth. In many ways, it is attractive to investors, particularly the portfolio’s single freehold status. We expect major national interest from a wide-ranging pool of investors in what is a special addition to the market.”
All properties are of traditional brick construction set beneath pitched tiled roofs. It is understood that throughout the portfolio windows are in part UVPC double glazed and in part single glazed wood framed. In addition, some units benefit from gas central heating whilst others are heated electrically. Sufficient parking is available for all properties.
This extensive collection of properties is located on Kirk Beston Close and Cross Heath Grove in Beeston, a popular residential suburb in close proximity of Leeds City Centre. Of the 73 properties in the portfolio, 62 are subject to Assured Shorthold Tenancies, four subject to Assured Tenancies and only seven are currently vacant.
Leeds is one the key cities leading the regeneration and economic renaissance of the northern powerhouse region. The City has recently benefited from investment in its amenities, retail offering and transport links. The opening of the Trinity Shopping Centre and Hammerson’s £165m Victoria Gate has played a key role in this renaissance, helping to spark wider investment in the area.
Notes to editor
Allsop is an independent property consultancy with a market-leading reputation for high quality service, integrity and innovation. We are also well known as the UK’s largest and most successful auction house. Our success is built on over 100 years’ experience in commercial and residential property consultancy and sales.
For details visit www.allsop.co.uk
For further information please contact James Wilson:
+44 (0)113 236 6679