Mirfield, WF14 0BL | Investment Property for Sale | VES-WF14-001

Opportunity to purchase an apartment in Mirfield generating £6,000 in rent pa and a gross yield of 6%

£100,000

Apartment

VES-WF14-001

INITIAL INVESTMENT

£45,500

GROSS RENT / YIELD

£6,000 / 6.0%

NET RENT / YIELD

£4,130 / 4.1%

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£138

SERVICE CHARGE

£87

1 bedroom

1 bathroom

1 reception room

TBC

Unfurnished

Lenght of lease: 125 years starting January 2003

Tenancy

RENT

£6,000 p.a. / £500 pcm

TENANCY DEPOSIT

£650

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

2 months ago

TENANCY AGREEMENT ENDS

6/9/2019

Documents available on request, please contact for viewings or further questions.

The information relating to the property is supplied by the vendor and the latest available at the date of listing.

Certain information may expire or become inaccurate over time and should be verified by the purchaser’s solicitor.

Financials

Rental Income

GROSS RENT PER ANNUM

£6,000

Equivalent of £500 per calendar month (PCM).

GROSS RENTAL YIELD

6.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£4,130

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

4.1%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£1,870

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

This information is for illustration purposes only and does not constitute advice. It is correct at the time of writing. For advice specific to your personal circumstances, please speak to a financial adviser.

About Mirfield, West Yorkshire

Mirfield is a small town in the borough of Kirklees, in the county of West Yorkshire. This town is situated around 3 miles west of Dewsbury, 11.1 miles south west of Leeds and 29.7 miles north east of Manchester.

This town is serviced by Mirfield railway station which lies on the Huddersfield Line and is managed by Northern and also operates services by Grand Central and TransPennine Express. Northern operates an hourly service eastbound to Leeds and to Wakefield Kirkgate and hourly westbound to Huddersfield, with connecting services from Huddersfield to Bradford Interchange, Liverpool Lime Street and Manchester Airport. Northern also operates an hourly service to Manchester Victoria and Southport via Brighouse along the Calder Valley Line. TransPennine Express offers an hourly service in each direction with eastbound services calling at most stations to Leeds and westbound services calling at Deighton and Huddersfield. Grand Central also operates a number of direct services from Bradford Interchange to London’s King Cross via Wakefield Kirkgate, Pontefract and Doncaster.

There is a variety of local independent shops in town as well as national chains such as Tesco, Co-op Food and Lidl. The majority of retail and dining options can be found in the nearby city of Leeds, which is the principal regional shopping centre for the whole of the Yorkshire and the Humber.

There are many national businesses based in town that employ those in the local area, these include Furniture choice and John Cotton Group Ltd. Mirfield’s close proximity to Leeds makes it a perfect location as a commuter town. Leeds has the most diverse economy in all of the UK’s main employment centres and has the fastest growth rate in private sector jobs. It is the largest centre for financial and business services and is home to over 30 national and international banks including the headquarters of First Direct and Yorkshire Bank. Other major companies based in the city include Asda, Direct Line, Aviva, BT Group and many more. Leeds is also the UK’s third largest manufacturing centre and around 50% of the UK’s manufacturing base is within a two-hour drive from Leeds.

This town could be ideal for young families looking for local school options. Primary schools in this area include Battyeford CE Primary School, Hopton Primary and Old Bank Primary School. There are two secondary schools in town Castle Hall School and Mirfield Free Grammar, the latter of which includes a sixth form.

Lee Green,

Mirfield,

West Yorkshire,

England,

WF14 0BL

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