Opportunity to purchase an 20-unit block in Wakefield generating £93,809 rent pa & gross yield of 6.5%
£1,450,000
18-unit Block
VES-WF1-008
INITIAL INVESTMENT
£427,500
Based on
deposit: £362,500
stamp duty: £43,500
mortgage fees: £1,500
conveyancing fees: £20,000
GROSS RENT
£93,809
GROSS YIELD
6.5%
The block
TENURE
Freehold
NO OF UNITS
20
TENANCY STATUS
Tenanted
FURNISHED
Yes
TOTAL SQ FT
4,592
PRICE SQ FT
£316
Block information
- Fully tenanted block
- Spread over 4 floors (basement to second floor)
- The groundfloor comprises of 2 x retail units
- The first and second floors comprise of:
- 2 flats each, one with 4 bedrooms and the other with 5 bedrooms
- Each bedroom comes with ensuite shower room
- Each flat has its own lounge/dining/kitchen plus laundry facilities
- EPC rating B
- Council tax band: tbc
Rental income
- The apartments are fully let and generate:
- Aggregate rental income: £7,817.40 pcm
- Aggregate rental income: £93,808.80 pa
- Aggregate gross yield: 6.5%
- The retail units are currently vacant and advertised to let
Location information
- The property is located just on the edge of the town centre
- All amenities within a short walk away
- Wakefield Kirkgate railway station is a 5-minute walk from the property
- Easy access to the A61 and A638
Note
Please note that Vesta has not visited this property and that all material has been provided by the vendor.
The total square footage is of the apartments only and doesn't include the retail units.
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Floorplans
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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.
Charlotte Street,
Wakefield,
West Yorkshire,
England,
WF1 1UL
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