call 0113 2787427   email enquiries@castlehill.co.uk   like us on facebook    
telephone us
email us
like us on facebook

Property Search

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

  • Substantial Residential & Commercial Investment
  • Prime Central Headingley Location
  • Gross Rent Roll circa £78,700 p/a (inc bills)
  • Fast Food Unit , 11 Studio/Flats & car park
  • Several flats re-let until Summer 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 currently occupied by a fish & chip take away 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.
Currently 8 of the 11 flats are let on assured shorthold tenancies, some until Summer 2021. The remaining 3 flats are currently vacant and are being actively being marketed to let. Once all the flats are let, the gross annualised rental income is expected to be circa £69,820 including bills. We understand the flats are all supplied by one set of utility services. (Please note we await copies of the tenancy agreements to verify these details).

Therefore, the fully occupied total annualised rent roll for the whole property is expected to be in the region of £78,700 p/a (inc bills).

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 - £490.00 – 1.7.2020 – 30.6.2021 Flat 2 - £498.33 – 1.7.2020 – 30.6.2021 Flat 3 - £490.00 – 1.7.2020 – 30.6.2021 Flat 4 - £510.00 – 1.7.2020 – 30.6.2021 Flat 5 – Vacant Flat 6 - £470.00 – 1.9.2019 – 31.8.2020 Flat 7 - £475.00 – 1.7.2020 – 30.6.2021 Flat 8 – Vacant Flat 9 - £550.00 – 1.7.2019 – 31.8.2020 Flat 10 – Vacant Flat 11 - £630.00 – 1.7.2020 – 30.6.2021


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

Please complete the form below to request a viewing for this property. We will review your request and respond to you as soon as possible. Please add any additional notes or comments that we will need to know about your request.


Please read our privacy notice for information on how we use your details.

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