Wakefield, WF1 1PJ | Investment Property for Sale | VES-WF1-005

Opportunity to purchase a block with 6 apartments and 2 commercial units including freehold in Wakefield

£750,000

8-unit mixed-use block

VES-WF1-005

INITIAL INVESTMENT

£219,500

Based on

deposit: £187,500

stamp duty: £22,500

mortgage fees: £1,500

conveyancing fees: £8,000

GROSS RENT

£56,080

GROSS YIELD

7.5%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

8

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

3,326

PRICE SQ FT

£225

Block information

  • The block is made up of 8 units comprising:
    • 1 x 2-bed apartment
    • 5 x 1-bed apartments
    • 2 x commercial units
  • The apartments and commercial units are fully let
  • All bills are paid by the tenants
  • The displayed square footage of 3,326 is for the apartments only

Rental information

  • Monthly rental income for the apartments: £2,723.33
  • Monthly rental income for the commercial units: £1,950
  • Total monthly rental income: £4,673.33
  • Total annual rental income: £56,079.96
  • The commercial units are let on FRI leases for £23,400 gross rent with no management required
  • Apartments 3 & 4 are let by a third party

Location information

  • Located in the city centre of Wakefield with all amenities on the doorstep
  • Wakefield Kirkgate and Westgate railway stations are half a mile on foot from the property, in the opposite direction
  • Easy access to the road network and the motorway

Note

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

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.

Westmorland Street,

Wakefield,

West Yorkshire,

England,

WF1 1PJ

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