Sold

Leeds – High street, predominantly residential, mixed-use opportunity

Bank House, 89 & 89A Queen Street, Morley, LS27 8DX

Offers in excess of £1,800,000

Property Types:
Commercial, Mixed, Residential
Sub Types:
Block of Flats, Bank
Tenure:
Freehold

Description

  • Freehold
  • Comprising in total 20 self-contained flats
    • 19 unsold flats (1 x studio, 14 x one bed and 4 x two bed)
    • Remaining flat sold on long lease
  • 17 flats subject to Assured Shorthold Tenancies
  • Two flats currently vacant
  • Residential income: £103,220 per annum
  • Two commercial units currently let – one to Barclays
  • Commercial income: £31,065 per annum (increasing to £38,065 pa in 2019)
  • Total current income: £134,285 per annum
  • Reversionary yield: 8.5% (once fully income producing)