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St Michaels Lane Headingley, Leeds Guide Price £950,000

  • Substantial Residential & Commercial Investment
  • Prime Central Headingley Location
  • Gross Rent Roll circa £76,000 p/a (inc bills)
  • Fast Food Unit , 11 Studio/Flats & car park
  • Many flats now re-let until 2021
  • Further Basement Potential
  • EPC RATING - C & B

AN UNUSUAL OPPORTUNITY TO PURCHASE A COMMERCIAL AND RESIDENTIAL INVESTMENT PROPERTY WITH FREEHOLD BEING SOLD AS A GOING CONCERN, SITUATED IN THIS PRIME, CENTRAL HEADINGLEY LOCATION, JUST A FEW MINUTES WALK TO EXTENSIVE AMENITIES, THE CRICKET & RUGBY GROUNDS AND WITHIN EASY REACH OF LEEDS CITY CENTRE & UNIVERSITIES.

The property is made up of a commercial ground floor unit and 11 self contained studio/one bed flats with parking.

The commercial unit is let until 1st April 2022 with a gross annual rent of £8,880 rising by £300 each year.
The flats are all let on assured shorthold tenancies with a total gross annualised rent roll of circa £67,500 including bills. Total annualised rent roll of £76,380 p/a (inc bills). We understand the flats are all supplied by one set of utility services.

Updated 20.1.20 - We are advised by the letting agent that flats 1, 2 & 11 are re-let at slightly increased rents until the end of June 2021 and it is likely flats 4, 6 & 7 will resign.

Externally there is an enclosed parking area for a number of vehicles. The basement currently offers storage and the heating system, but also offers potential for further development subject to consents. Internal viewing recommended to appreciate the full potential and in our opinion, scope for rental uplift.


St Michaels Lane Headingley
Leeds LS6 3AN
County: West Yorkshire
Sale Type: For Sale
Ref #: 00003467

LOCATION

Travelling from Headingley on Otley Road turn right onto St Michaels Road, St Michaels Lane is on the left immediately behind the church.

TENURE

Freehold BUSINESS RATEABLE VALUE £4,607.00

POSSESSION

Subject to the existing tenancy agreements. 7 Michael’s Lane 5 year Lease £8,880 p/a increasing by £300 each year. 1st April 2017 - 1st April 2022 9 St Michael’s Lane Flat 1 - £485 01/07/2019 – 30/06/2020 Flat 2 - £480 01/07/2019 – 30/06/2020 Flat 3 – £476.80 15/09/2019 – 30/06/2020 Flat 4 - £500 01/07/2019 – 30/06/2020 Flat 5 - £500 12/08/2019 – 11/08/2020 Flat 6 - £470 01/09/2019 – 31/08/2020 Flat 7 - £450 01/07/2019 – 30/06/2020 Flat 8 - £520 01/07/2019 – 30/06/2020 Flat 9 - £550 01/07/2019 – 31/12/2020 Flat 10 - £600 01/07/2019 – 30/06/2020 Flat 11 - £600 01/07/2019 – 30/06/2020


St Michaels Lane Headingley
Leeds LS6 3AN
County: West Yorkshire
Sale Type: For Sale
Ref #: 00003467

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St Michaels Lane Headingley
Leeds LS6 3AN
County: West Yorkshire
Sale Type: For Sale
Ref #: 00003467
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