Leeds, LS15 7AG | Investment Property for Sale | VES-LS15-003

Opportunity to purchase a HMO property in Leeds generating £29,820 rent pa

£425,000

HMO Semi-Detached House

VES-LS15-003

INITIAL INVESTMENT

£132,750

Based on

deposit: £106,250

stamp duty: £24,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£29,820

GROSS YIELD

7.0%

ADD TO FAVOURITES

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The property

TENANCY

Tenanted

TENURE

Freehold

6 bedrooms

6 bathrooms

0

TBC

Fully Furnished

Property information

  • Fully licenced HMO, comprising of:
    • 1 x 1-bed flat
    • 5 x studios
  • EPC rating C
  • Monthly rental income £2,485

Rental information

  • Rear ground floor studio flat - £435 pcm - Let
  • Flat 1 - £395 pcm - ERV as vacant end of March
  • Flat 2 - £360 pcm - Let
  • Flat 3 - £370 pcm - Let
  • Flat 4 - £350 pcm - Let
  • Front ground floor flat - £575 pcm - Let
  • Total rent pcm £2,485
  • Total rent pa £29,820

Additional income:

  • Approximately £1,900 pa from electric token meters and washing machines
  • Total income pa £31,720
  • Gross rental yield 7.4%

Running costs

  • Water bill: approximately £350 pa
  • The tenants pay for their own utilities

Note

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

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.

Hollyshaw Lane,

Leeds,

West Yorkshire,

England,

LS15 7AG

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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.

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