Leeds, LS9 8DT | Investment Property for Sale | VES-LS9-022

Opportunity to purchase an apartment in Leeds generating £10,500 rent pa & gross yield of 5.3%

£200,000

Apartment

VES-LS9-022

INITIAL INVESTMENT

£60,000

Based on

deposit: £50,000

stamp duty: £7,500

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£10,500

GROSS YIELD

5.3%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£250

SERVICE CHARGE

£2,000

2 bedrooms

2 bathrooms

1 reception room

1,152

Unfurnished

Leasehold information

  • Length of lease: 999 years
  • Year lease started: 2004
  • Years left on lease: 981 years (from 2022)
  • Service charge review period: annually
  • Ground rent review period: tbc

Property information

  • Open plan living room/kitchen
  • Main bedroom has ensuite shower room
  • Shared family-size bathroom
  • New heater was installed in the living room in May 2022
  • New water heater was installed in September 2018
  • Awaiting confirmation on the requirement for an EWS1 certificate from the vendor
  • EPC rating: C
  • Council tax band D
  • Monthly rental income £875

Location information

  • The property is located in the Richmond Hill area of Leeds
  • Leeds city centre is 0.5 miles from the property and can easily be reached on foot
  • There is a bus stop near the property with regular services into the centre
  • Easy access to the A61 and wider road network

Note

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

Tenancy

RENT

£10,500 p.a. / £875 pcm

TENANCY DEPOSIT

£1,010

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

16 months ago

TENANCY AGREEMENT ENDS

Periodic

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 Leeds, West Yorkshire

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.

East Street,

Leeds,

West Yorkshire,

England,

LS9 8DT

What makes us different?

Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.

Benefits include:

  • Buy tenanted property
  • Huge choice for all budgets
  • View property performance data
Learn more >

Questions?

Our sales team is standing by to help.

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.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

Vesta Property is a full member of the Property Ombudsman (TPO) and commits to TPO Codes of Practice

Chartered Trading Standards Institute - Approved Code

Authorised and regulated by the property ombusdman

Copyright © 2023 Vesta Global Limited. All rights reserved.