Bramley, Leeds, LS13 2DW | Investment Property for Sale | VES-LS13-001

Opportunity to acquire an unbroken apartment block, with headlease, in Bramley, Leeds

£3,585,000

36-unit Block

VES-LS13-001

INITIAL INVESTMENT

£1,041,300

Based on

deposit: £896,250

stamp duty: £107,550

mortgage fees: £1,500

conveyancing fees: £36,000

GROSS RENT

£219,300

GROSS YIELD

6.1%

ADD TO FAVOURITES

The block

TENURE

Leasehold

NO OF UNITS

36

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

13,500

PRICE SQ FT

£266

Block information

  • Unbroken apartment block with headlease
  • 36 brand new converted apartments occupying the first, second and third floor overlooking Bramley shopping centre
  • The block comprises:
    • 33 x 1-bed apartments (estimated average size of 360 sqft)
    • 3 x 2-bed apartments (estimated average size of 540 sqft)
  • All apartments come with:
    • Open plan kitchen/living room
    • Wall-mounted heater
    • Pre-installed connections for TV, telephone and broadband
  • Parking is also available
  • Lift access to all floors
  • EPC ratings D & E

Rental information

  • The property is fully let at the time of listing
  • Aggregate monthly rental income £18,275
  • Aggregate annual rental income £219,300

Lease information

  • The headlease has been appraised at £135,000 based on total ground rent of £9,000 pa and the units being on separate 999-year leases (commencing from 2019).
  • The headlease is a 999-year headlease with a peppercorn ground rent payable to the freeholder (the council).
  • The block has a service charge budget of £55,080 pa.

Available upon request

  • Block breakdown
  • Leasehold information per unit
  • EPCs for all units

Notes

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

The floorplans are examples of a 1-bed, and a 2-bed apartment in this development. Layout and sizes will vary.

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Leeds

Leeds is a city in West Yorkshire. It is situated around 9 miles east of Bradford, 33 miles north of Sheffield and 39 miles northeast of Manchester.

This city is serviced by Leeds railway station, which acts as the terminus station of the East Coast Main Line and is the third busiest railway station outside of London. This station is managed by Network Rail and operates services by London North Eastern Railway, CrossCountry, TransPennine Express, Northern and East Midland Trains. This station is also used by the Metrotrain network in West Yorkshire and operates the following lines; Leeds Branch of the East Coast Main Line to London King’s Cross, Midland Main Line to London St Pancras, Airedale Line to Keighley/Skipton/Carlisle, Hallam Line to Castleford/Wakefield/Barnsley/Sheffield and many more. CrossCountry offers routes between Scotland, the Midlands and the south west of England.

The city of Leeds has an extensive retail area which is identified as the principal regional shopping centre for the whole of the Yorkshire and the Humber, generating on average £1.93bn turnover annually. There are several indoor shopping centres in the city centre such as the Merrion Centre, St John’s Centre, The Core and The Victoria Quarter to name a few. Between these shopping centres there are well over 1,000 retail stores spread across a combined floorspace of 3,660,000 square feet. The heart of this retail centre is around the largely pedestrianised Briggate where one can find all well-known British high street stores including Marks & Spencer, House of Fraser, Debenhams and Harvey Nichols. The Victoria Quarter is one of the more notable shopping centres due to its collection of around 70 high-end luxury retailers such as Louis Vuitton and Vivienne Westwood spread across two Victorian arcades.

Leeds has one of the most diverse economies of all of the UK’s main employment centres and has recently seen the largest growth in private-sector jobs in the whole of the UK. Leeds is hailed as the largest centre outside of London for financial and business services. Leeds has over 30 national and international banks that operate from the city including Barclays, Santander and RBS, as well as the headquarters of Yorkshire Bank and First Direct. Other major companies that are based in the city include William Hill, ASDA, Direct Line and many more. Leeds is also the UK’s third-largest manufacturing centre and 50% of the UK’s manufacturing firms are within a two-hour drive of Leeds.

For all these reasons and more Leeds has become a very popular location for young professionals and many graduates stay on in Leeds once they have finished their studies. Recent years have even seen an influx of graduates from all over the country due to the high number of graduate apprenticeship programmes and this demographic is the perfect target for HMOs in the city.

Town Street,

Leeds,

West Yorkshire,

England,

LS13 2DW

What makes us different?

Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.

Benefits include:

  • Buy tenanted property
  • Huge choice for all budgets
  • View property performance data
Learn more >

Questions?

Our sales team is standing by to help.

Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

Copyright © 2021 Vesta Global Limited. All rights reserved.