Wakefield, WF1 5NR | Investment Property for Sale | VES-WF1-001

Opportunity to purchase a 2 unit block in Wakefield generating £72,280 rent pa and a gross yield of 12%

£600,000

2-unit block

VES-WF1-001

INITIAL INVESTMENT

£273,300

GROSS RENT / YIELD

£72,280 / 12.0%

NET RENT / YIELD

£55,517 / 9.3%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

2

TENANCY STATUS

Tenanted

FURNISHED

Yes

TOTAL SQ FT

5,360

PRICE SQ FT

£112

Property information

  • 2 unit block for sale comprising of a semi-detached house with a basement flat
  • Aggregate monthly rental income £6,023
  • Aggregate gross rental yield 12%
  • Both units have been completely refurbished, see details below
  • Private parking available as well as off-road parking

Basement flat

  • 4 bedrooms, 2 bathrooms
  • Fully let
  • Fully refurbished including new windows in 2019
  • Open plan kitchen/living/dining room
  • 1,485 square foot
  • £1,473 monthly rental income
  • EPC rating D

Semi-detached house

  • 14 bedrooms, 5 bathrooms
  • Fully let
  • Fully refurbished including new windows in 2013/2014
  • Separate lounge & kitchen/dining rooms
  • Separate utility room
  • 3,875 square foot
  • £4,550 monthly rental income
  • EPC rating E

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.

Financials

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Rental Income

GROSS RENT PER ANNUM

£72,280

Equivalent of £6,023 per calendar month (PCM).

GROSS RENTAL YIELD

12.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£55,517

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

9.3%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£16,763

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

All financial information is provided as a guideline only, is based on estimates and assumptions and is subject to change. Buyers are advised to seek independent financial advice. Capital at risk.

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 Coutnry 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.

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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.

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