#12635 | Guide Price

£1,000,000

16 x 1 Bed Apartments on Westfield Mills

  16 bedrooms
  16 bathrooms
  16 receptions

Key features

  • INVESTMENT OPPORTUNITY
  • 16 UNITS
  • PERIOD FEATURES
  • MINIMAL VOID PERIODS
  • POPULAR LOCATION
  • TENANTS IN SITU - INSTANT INCOME
  • BUILDING MANAGEMENT IN PLACE
  • ONE BEDROOM APARTMENTS
  • WELL- MAINTAINED COMPLEX
  • IDEAL ADDITION TO A RENTAL PORTFOLIO

Full property description

SUMMARY A fantastic opportunity has arisen for an investor to purchase the entire leasehold apartment complex, comprising 16 one bedroom apartments situated within a characterful mill conversion. The mill is accessed via a secure electric gate leading to a parking area and a communal entrance door. Situated in a popular rental area, the apartments experience minimal void periods and tend to prove very popular with young professionals. The apartments achieve a rental income of £7335 (correct as of June 2020), thus presenting an 8.8% yield. Let-Leeds have been successfully managing the tenancies of the units for a number of years, with a building management company in place also. The leasehold is in place for 125 years from 2006. We have included a range of photographs and floorplans within the brochure, however for more information please contact Alex or Joe on 0113 322 9533

AGENT NOTES Some useful information below which has been provided by the Vendor:

Ground Rent: £4,241.28 (pa)

Service Charge: £12,652.80 (pa)

Buildings Ins: £3,472.80 (charged by Landlord) for period 1/6/19-31/5/20

Have a property to sell?

We’ll be with you every step of the way.

Book a valuation

Armley area guide

Click to view our area guide.

Learn more
Property EPC 1
Property EPC 2
Property EPC 3
Property EPC 4
Property EPC 1