Wakefield, WF1 1UL | Investment Property for Sale | VES-WF1-008

Opportunity to purchase an 20-unit block in Wakefield generating £93,897 rent pa & gross yield of 6.7%

£1,400,000

18-unit Block

VES-WF1-008

INITIAL INVESTMENT

£413,500

Based on

deposit: £350,000

stamp duty: £42,000

mortgage fees: £1,500

conveyancing fees: £20,000

GROSS RENT

£93,897

GROSS YIELD

6.7%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

20

TENANCY STATUS

Tenanted

FURNISHED

Yes

TOTAL SQ FT

4,592

PRICE SQ FT

£305

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: £7,824.76 pcm
    • Aggregate rental income: £93,897.12 pa
    • Aggregate gross yield: 6.7%
  • 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.

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.

Charlotte Street,

Wakefield,

West Yorkshire,

England,

WF1 1UL

What makes us different?

Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.

Benefits include:

  • Buy tenanted property
  • Huge choice for all budgets
  • View property performance data
Learn more >

Questions?

Our sales team is standing by to help.

Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

Vesta Property is a full member of the Property Ombudsman (TPO) and commits to TPO Codes of Practice

Chartered Trading Standards Institute - Approved Code

Authorised and regulated by the property ombusdman

Copyright © 2022 Vesta Global Limited. All rights reserved.