For Sale

Leeds – Fully let investment opportunity on the edge of Leeds City Centre, with potential to increase rental income via development works

St Mary's Hall, 7 St Mary's Lane, Leeds, LS9 7EH

Offers in excess of £910,000

Property Types:
Development Opportunity, Residential
Sub Types:
Block of Flats, Flat, Investment, Multiple Flats, Land / Site
Tenure:
Freehold

Description

  • Freehold
  • Well located to the east of Leeds city centre, 0.3 mile from the new ‘South of York Road’ mixed use scheme
  • Comprising 8 self-contained flats, arranged as: 4 x two bedroom flats and 4 x one bedroom flats
  • Scope for extensive refurbishment and development works to provide higher rental income, with Planning Permission granted for two additional units
  • Currently 7 out of the 8 flats are let, producing an income of £48,900 per annum
  • Potential to increase income, in current condition, to an Estimated Renal Value (ERV) of £64,200 per annum
  • An asking price offer of £910,000 reflects a Gross Yield of 7.05% (based upon the ERV)

Subject to contract