Opportunity to purchase a 32-unit freehold block in Huddersfield which generates a 7.4% gross yield pa
£4,500,000
32-unit Block
VES-HD5-002
INITIAL INVESTMENT
£1,303,500
Based on
deposit: £1,125,000
stamp duty: £145,000
mortgage fees: £1,500
conveyancing fees: £32,000
GROSS RENT
£333,804
GROSS YIELD
7.4%
The block
TENURE
Freehold
NO OF UNITS
32
TENANCY STATUS
Tenanted
FURNISHED
Yes
TOTAL SQ FT
22,138
PRICE SQ FT
£203
Block information
- The block was converted to residential/mixed-use in 2018-2019
- The block comprises:
- 27 x 1-bed apartments
- 2 x 2-bed apartment
- 2 x support offices
- 3 x commercial units
- Net internal area 22,138 sqft
- Spread over 4 floors (ground floor to 3rd floor)
- Apartments range in size from 410 sqft to 870 sqft
- The apartments come fully furnished
- 24 of the apartments have an internal gallery/mezzanine level
- There is parking for 34 cars including 2 disabled spaces and 2 electric charging points
- The building has been fitted with solar panels and ground source heat pumps, enabling self-sufficient energy production
- EPC rating: A
- Council tax band: A
Rental income
- The apartments are fully let on 12-month ASTs to two reputable serviced operators, who would be willing to sign a 5-year lease
- Monthly rental income: £23,350
- Commercial unit 1 is let on a 10-year FRI lease from September 2016
- Commercial unit 2 is let on a 15-year FRI lease from September 2013
- Commercial unit 3 is currently under offer
- Monthly rental income: £4,467
- Aggregate monthly rental income: £27,817
- Aggregate annual rental income: £333,804
- Aggregate gross yield: 7.4%
Additional rental income
The current owners also receive additional rental income from:
- Telecoms mast installed on the top of the building - £1,208 pcm
- The green energy installations - £1,800 pcm
- Service charges and utilities - £1,500 pcm
Available upon request
- Block breakdown
- EPCs for all units
- Full floorplans
Location information
- The property is located in the Tandem area of Huddersfield
- Huddersfield town centre is about 2 miles from the property and can be reached by car in 10 minutes
- There are a number of local amenities and a retail park just a few minutes from the property
- Easy access to the A642 and wider road network
Note
The floorplans are an example of one of the units 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.
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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 Huddersfield, West Yorkshire
Huddersfield is a large market town in West Yorkshire. It lies approximately 14 miles south-west of Leeds and 24 miles north-east of Manchester.
The town is well situated with easy access to the M1 and M62 motorways, connecting Huddersfield to London and Leeds (via the M1) as well as Liverpool and Hull via Manchester and Leeds (via the M62). The A62 is the town’s inner ring road which relieves traffic congestion in the town centre where a lot of roads are car free.
Huddersfield train station is operated by TransPennine Express and runs frequent services to Dewsbury, Leeds, Manchester, Darlington, Hull, Liverpool, Manchester Airport, Middlesbrough, Newcastle, Scarborough and York. There are no direct trains to London, with passengers having to change at Manchester Piccadilly, Leeds, Wakefield Westgate or Mirfield.
With over 1,600 listed buildings Huddersfield has a rich architectural heritage. Most notably the Victoria Tower on Castle Hill. Other nearby attractions include the Tolson Museum, Oakwell Hall and Country Park, Huddersfield Art Gallery, Colne Valley Museum and Bagshaw Museum in Batley.
Nature lovers can choose from a wide range of great outdoor places to head to. Some of those places are The South Pennines, Peak District National Park, National Trust Marsden Moor, Dewsbury Country Park, Transpennine Trail or Spen Valley Greenway, to name a few.
Huddersfield has 3 main shopping areas which are home to most high street favourites, Kingsgate, The Packhorse Precinct and The Piazza Centre. It also hosts a number of markets throughout the week where some of the best local and independent producers and artisans sell their wares.
There are a number of primary and secondary schools in Huddersfield as well as 2 sixth form colleges, Huddersfield New College and Greenhead College, a further education college, Kirklees College, and the University of Huddersfield, offering a variety of undergraduate and postgraduate courses.
The University of Huddersfield is the largest employer in town, but there are several other employers like Brook Motors Ltd, Cummins Turbo Technologies, Syngenta AG, Pennine Radio Ltd, Dual Seal Glass, Ellis Furniture, Mamas and Papas, as well as Andrew Jones Pies.
Wakefield Road,
Huddersfield,
West Yorkshire,
England,
HD5 9XP
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