Opportunity to purchase an apartment in Halifax generating £4,740 rent pa & gross yield of 7.3%
£65,000
Apartment
VES-HX1-006
INITIAL INVESTMENT
£20,700
Based on
deposit: £16,250
stamp duty: £1,950
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£4,740
GROSS YIELD
7.3%
Long-term tenant
Tenants that stay for long periods feel they have a stake in the property and are more likely to treat it as though it was theirs.
Benefits include:
- Steady income
- Minimised wear and tear
- Fewer void periods
The property
TENANCY
Tenanted
TENURE
Leasehold
GROUND RENT
£150
SERVICE CHARGE
£1,132
1 bedroom
1 bathroom
1 reception room
517
Unfurnished
Leasehold information
- Length of lease: 99 years
- Year lease started: 2008
- Years left on lease: 85 years (from 2022)
- Ground rent review period: tbc
- Service charge review period: tbc
Property information
- Located on the ground floor
- Comprising of:
- Entrance hall, with boiler cupboard
- Bathroom
- Kitchen
- Bedroom
- Lounge, with access to a private balcony
- New gas central heating was fitted in 2021, replacing the old electric storage heaters
- EPC rating E
- Council tax band A
- Monthly rental income £395
Building works
- Over the last 8 years the block leaseholders have had some major works done on the building
- All balconies and concrete walkways were renovated
- The brickwork on the front aspect of the building was repointed and sealed
Tenant information
- The tenant is a charity organisation who is in place since 2014
- The tenant rents all the units in the block and owns two themselves
- The vendor is very happy with the tenants and would like to highlight that the rent is always paid on time, there are no voids and as the charity manages the people living in the flat no letting agents are required
Location information
- The property is 0.5 miles from the town centre
- A local shop is a few minutes walk from the property
- Halifax railway station can be reached in under 20-minute walk
- People's Park is a short walk from the property
- Easy access to the A58 and wider road network
Note
Please note that Vesta has not visited this property and that the vendor has provided all material.
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.
Aked's Road,
Halifax,
West Yorkshire,
England,
HX1 2TP
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