Bramley, Leeds, LS13 | 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

Please note that this is an off-market opportunity that is available to qualified buyers only.

Please get in touch and quote the reference number above to speak to a member of our sales team who can advise on the information that will be required from you in order for us to be able to share more detailed and confidential information related to the opportunity.

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

The property is a fantastic development of 36 new apartments occupying the first, second and third floors overlooking Bramley shopping centre.

  • 33 x 1-bed apartments (estimated average size of 360 sqft)
  • 3 x 2-bed apartments (estimated average size of 540 sqft)

The development has been newly converted and completed to a high standard with attention to detail to maximise space. Every apartment has a contemporary feel throughout with shower room and an open plan kitchen cum lounge with wall mounted heater and pre-installed connections for TV, telephone, and broadband. Parking is also available externally and there is lift access to all floors.

The property is fully let (at the date of listing) and the aggregate rent is £219,300 pa (£18,275 pcm) with a service charge budget of £55,080 pa.

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 property is located on Lower Town Street (A657) above Bramley shopping centre and has easy access to a large variety of shopping units, including Tesco, Farmfoods, Boots, and Pound Stretcher, bakeries and coffee shops such as Cooplands, Greggs and Costa and across the road is The Old Unicorn JD Wetherspoon pub. The A657 provides direct road access to Leeds city centre (15 minutes by car or 30 minutes by bus). Bramley rail station is an 18-minute walk and provides links to Leeds, Bradford, Halifax, Manchester Victoria and Chester.

Leeds is the UK’s second largest employment centre outside London and has one of the most diverse local economies in the UK. Leeds is hailed as the largest centre outside of London for financial and business services, with over 30 national and international banks operating from the city including Barclays, Santander, and Natwest, as well as the headquarters of Yorkshire Bank and First Direct. Other major companies 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 2-hour drive of Leeds.

Leeds also has one of the largest higher education student populations in the country, with The University of Leeds, Leeds Beckett University, Leeds Trinity University, Leeds Arts University and Leeds College of Music contributing to a student population of over 55,000.

The vendor is seeking offers over £3,585,000 (inclusive of headlease).

Please contact our sales team for further details.

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.

Point of reference - not exact location,

Leeds,

West Yorkshire,

England,

LS13 2ET

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