Opportunity to purchase a 74-unit block in Pontefract generating £424,530 rent pa & gross yield of 6.4%
£6,600,000
74-unit Block
VES-WF8-006
INITIAL INVESTMENT
£1,923,500
Based on
deposit: £1,650,000
stamp duty: £198,000
mortgage fees: £1,500
conveyancing fees: £74,000
GROSS RENT
£424,530
GROSS YIELD
6.4%
The block
TENURE
Freehold
NO OF UNITS
74
TENANCY STATUS
Tenanted
FURNISHED
No
TOTAL SQ FT
29,313
PRICE SQ FT
£225
Block information
- Office to residential conversion
- Spread over four floors
- The block comprises:
- 70 x 1-bed apartments
- 4 x 2-bed apartments
- Each apartment comes with:
- lounge/kitchen/bedroom
- bathroom
- EPC ratings C
- Council tax band: tbc
Rental information
- The block is fully let, generating:
- Aggregate monthly rental income: £35,377.50
- Aggregate annual rental income: £424,530
Available upon request
- EPCs for all units
- Block breakdown
- Full floorplans
Location information
- The property is located in the centre of Pontefract
- All local amenities are just a short walk away
- Pontefract Tanshelf railway station is a 9-minute walk away
- Pontefract Baghill railway station is a 10-minute walk away
- Easy access to the M62 via Junction 32 and the A1 (M) via Junction 33
Note
Please note that Vesta has not visited this property and that the vendor has provided all material.
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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.
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About Pontefract, West Yorkshire
Known as the key to the north, the historic town of Pontefract is one of West Yorkshire’s most up and coming areas.
Within walking distance to local shops, restaurants and leisure facilities
Close to three train stations
Ideal for the M62 & A1, putting Leeds 30 minutes away
Close to two international airports
Multi-million pound regeneration projects (shopping, leisure, jobs and green spaces)
Pontefract is a historic market town in the county of West Yorkshire in northern England. This town is one of five towns that makes up the metropolitan borough of the City of Wakefield, situated 13.9 miles south east of Leeds and 25.1 miles north of Sheffield.
This area is serviced by Pontefract Tanshelf railway station, Pontefract Baghill railway station and Pontefract Monkhill railway station offering trains to Wakefield, Leeds, York, Sheffield, Bradford and London King's Cross.
Pontefract has been historically known as a market town since the middle ages, in more contemporary times the market days are Wednesday and Saturday, with a smaller market that opens on Fridays. There is also a covered indoor market space that is open all week apart from Thursday afternoons and Sundays. In town there is also an Xscape complex that features several shops, clubs, restaurants and entertainment facilities including a bowling alley, laser tag, crazy golf and a multi-screen cinema. Pontefract also has many cultural attractions such as Pontefract Castles, Pontefract Races and the Pontefract Museum.
Pontefract is one of the few places in the UK where liquorice can be grown due to the fact that the soil is deep and sandy, this has made it an ideal location for two liquorice factories owned by Haribo and Tangerine Confectionery. Aside from these big employers in the local area there are many job opportunities in the nearby city of Leeds.
Pontefract is ideal for young families seeking local schooling options in walking distance of this area. There are a number of secondary schools offering education from the ages of 11-16 such as Carleton Community High School and King’s School on Mill Hill Lane. For those looking for Higher Education there is the NEW College on Park Lane, which is one of the highest achieving colleges in the England.
Headlands Road,
Pontefract,
West Yorkshire,
England,
WF8 1BQ
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