Opportunity to purchase a 30-unit block in Wakefield generating £153,775 rent pa & gross yield of 6.7%
£2,300,000
30-unit Block
VES-WF1-009
INITIAL INVESTMENT
£675,500
Based on
deposit: £575,000
stamp duty: £69,000
mortgage fees: £1,500
conveyancing fees: £30,000
GROSS RENT
£153,775
GROSS YIELD
6.7%
The block
TENURE
Freehold
NO OF UNITS
30
TENANCY STATUS
Tenanted
FURNISHED
No
TOTAL SQ FT
8,631
PRICE SQ FT
£266
Block information
- Mixed-use development comprising four floors
- The ground floor comprises two retail units
- The residential units are spread over 3 floors (first to the third floor)
- There are 30 x studio apartments comprising:
- lounge/kitchen/bedroom
- ensuite shower room
- EPC ratings C
- Council tax band A
Rental information
- The block is fully let, generating:
- Aggregate monthly rental income: £12,814.58
- Aggregate annual rental income: £153,774.96
Available upon request
- EPCs for all units
- Block breakdown
- Full floorplans
Location information
- The property is located in the centre of Wakefield
- All local amenities are just a short walk away
- Wakefield Westgate railway station is a 6-minute walk away
- Easy access to the A642 and wider road network
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.
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 Wakefield, West Yorkshire
Wakefield is a cathedral city in West Yorkshire on the eastern edge of the Pennines.
Wakefield is very well connected with the intersection of the M1 and M62 motorways nearby, connecting it with London to Leeds and Liverpool to Hull respectively. The A61, A638 and A642 roads cross here and the A636 and A650 roads start in the city.
Leeds Bradford Airport is around 19 miles north of the city.
The city has two railway stations, one is Wakefield Kirkgate station which lies on the Hallam, Pontefract and Huddersfield lines. It also runs some services to London King’s Cross. Wakefield Westgate station runs services to Leeds, Doncaster as well as stations towards London King’s Cross. Other train services go to Newcastle, Edinburgh, Birmingham and the South West. There are limited trains to Sheffield, Derby and Leicester. Trains to London take less than two hours.
Wakefield has a lot to offer for all ages such as The Hepworth Wakefield, Yorkshire Sculpture Park, National Coal Mining Museum for England, National Trust Nostell, Pontefract Castle. Other adventurous activities include windsurfing across the lake at Pugneys Country Park, Gravity Trampoline Park or the snow slopes at Snozone.
For outdoor enthusiasts there are 69 managed parks and wildlife areas in the district, perfect for cycling, walking and wildlife spotting. In 2017 Wakefield was ranked as the tenth-fastest growing city economy in the UK. Part of the success is credited to the city’s location, with excellent transport links, ongoing regeneration and popular tourist attractions. A push to further develop the education sector is expected to bring further boost to the city.
Queen Street,
Wakefield,
West Yorkshire,
England,
WF1 1JR
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