Mixed use Commercial & Residential Vacant Possession**offers Invited**Price Reduced Quick Sale*8

Placed: 05/10/17
Region: West Yorkshire
Location: Leeds
Category: Real Estate


Content of the advertisement:

Property type: House, Number of bedrooms: 4

Location: Oakwood Lane, Leeds, West Yorkshire, LS8

Type: 1 x retail unit and 4 bed house

Investor Price: £185 000

Potential Rental: £19,000pa

Yield: 9.70%

Property Details:

The Freehold property is a stone built mid terraced house located with the Affluent area of Oakwood, Leeds.

Business and shop premises on the market for £245k. We have negotiated a 20% reduction – Investor price £196,000.

Brief description:
Former newsagent business which has now closed due to the owner retiring. Spacious shop floor unit with separate access to downstairs w/c and sink. stairways leading to downstairs cellar/storage. Door at rear leading to spacious self enclosed private garden.

House Details:
The house access is to the side of the property and is as follows:

Entrance hallway leading into main lounge area. Spacious double reception rooms. Which leads to an open plan kitchen with a range of fitted wall and base units. Entrance from kitchen leading into private enclosed rear area.

Hallway steps leading to 4 bedrooms including 3 double and 1 single. Plus 1 separate box room/storage room. Separate bathroom with electric shower toilet and sink.

Shop exempt from business rates. Cosmetically needs decorating.

Currently 1 electric meter for both shop and house. Only gas in main house. 1 water bill for both premises- on a meter. Council tax for house Band C

Exit strategy

1. Upgrade premises and let out shop and house

2. Convert shop into self contained apartment and main house into
Three x 1 bedroom self-contained apartments.
Total units 4. rental income £475 per unit.

Resale on units valuation from local agent. Between £280,000 to £300,000 if converted to 4 bed flat

Leeds at a glance

Leeds is located in the centre of the UK and lies on the axis of the country’s main north south (M1) and east west (M62) motorways. A regional population of 3 million, Leeds boasts a city population of 715,500 and 2 million people within a 30-minute drive. This makes Leeds the biggest city after London and Birmingham.

Regeneration and investment in Leeds

The city offers the largest financial and legal services hub outside London and is one of the leading business locations in Europe with a business base of 105,000 companies and a diverse economy worth over £53 billion per year.

£6 billion is currently being invested in the city through major domestic development projects including Trinity Leeds shopping centre, the state of the art Leeds Arena and Victoria Gate.

Price / Salary: £185,000.00