Opportunity to purchase a 34-unit freehold block in Halifax with the potential to generate a 6.2% gross yield
£3,050,000
34-unit Block
VES-HX1-005
INITIAL INVESTMENT
£889,500
Based on
deposit: £762,500
stamp duty: £91,500
mortgage fees: £1,500
conveyancing fees: £34,000
GROSS RENT
£189,360
GROSS YIELD
6.2%
The block
TENURE
Freehold
NO OF UNITS
34
TENANCY STATUS
Vacant
FURNISHED
No
TOTAL SQ FT
20,805
PRICE SQ FT
£147
Block information
- Landmark building under development into residential units
- Works are expected to complete in Q4 2022
- Once completed the block will comprise:
- 29 x 1-bed apartments
- 5 x 2-bed apartments
- Spread over 5 floors (lower ground to third floor)
- Refuse/recylce store and bicycle storage in the basement
- Lift access to all floors
- EPC rating: tbc, following completion of all works
- Council tax band: tbc
Rental income
Once fully let the apartments are expected to generate:
- Aggregate rental income: £15,780 pcm
- Aggregate rental income: £189,360 pa
- Aggregate gross yield: 6.2%
Location information
- The property is located within the Eastern Gateway of Halifax town centre
- All of the town centre amenities are on the doorstep
- Halifax railway station can be reached in under 5 minutes on foot
- Easy access to the wider road network
Note
Please note that the photos are not of the actual apartments but from other developments of the vendor and are for illustrative purposes only. They do however represent the quality of the apartments once all works are finished.
The floorplans are examples of 1-bed and 2-bed apartments in this development. Layout and sizes will vary.
Please note that Vesta has not visited this property and that all material has been provided by the vendor.
At the time of listing there are no EPCs available for this property. However, Vesta will add these as soon as they have been received.
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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 Halifax, West Yorkshire
Halifax is a minster town in West Yorkshire, England. It lies around 9 miles north of Huddersfield and 9 miles southwest of Bradford.
It is probably best known for Mackintosh’s chocolate products including Quality Street and Rolo, as well as Halifax Bank (now part of Lloyds Banking Group), which was founded here and still has its headquarter in the town.
Halifax is connected via the A58 that goes around the town west-bound to Leeds and all the way to Wetherby and east-bound to Prescot. Halifax railway station is on the Caldervale Line running services to Manchester Victoria, York, Selby via Bradford and Leeds, Blackpool North and London Kings Cross via Wakefield Kirkgate.
The town has much to offer for visitors, with its many Victorian buildings. Some of its attractions include the Grade I-listed Piece Hall, which is still used for a public market today, Halifax Minster which was completed in 1438, Calderdale Industrial Museum, the Town Hall, and Wainhouse Tower, the tallest folly in the world at 275ft.
Dean Clough is a converted mill factory, which was once one of the largest carpet manufacturing factories in the world and is now housing around 150 businesses and arts venues. These include retail shops as well as bars and restaurants.
There are also a number of outdoor activities on offer including Another World Adventure Centre, North Dean Woods, People’s Park and The Jungle Experience at Manor Heath Park.
Square Road,
Halifax,
West Yorkshire,
England,
HX1 1QG
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