25 Knowle Mount Leeds LS4 2PP. 350,000 Region. Substantial End Terrace. Commercial & Residential Investment. 4 Flats and Convenience Store

Transcription

1 25 Knowle Mount Leeds LS4 2PP 350,000 Region Substantial End Terrace Commercial & Residential Investment 4 Flats and Convenience Store Total rent roll 32,000 Potential to Uplift Rents Popular and Convenient Location 21 OTLEY ROAD HEADINGLEY LEEDS LS6 3AA T: enquiries@castlehill.co.uk

2 A SUBSTANTIAL RESIDENTIAL AND COMMERCIAL INVESTMENT OPPORTUNITY SITUATED IN THIS POPULAR LOCATION, A SHORT WALK TO BURLEY PARK TRAIN STATION, OPEN PARKLAND, WITHIN EASY REACH OF THE EXTENSIVE AMENITIES IN HEADINGLEY AND WITH EXCELLENT ACCESS INTO LEEDS CITY CENTRE AND THE VARIOUS UNIVERSITY SITES. In brief the accommodation comprises, a lower ground floor convenience store, a ground floor three bedroomed flat, two first floor one bedroomed flats and a further two bedroomed top floor flat. The flats are producing a total annualised rental income of 22,368 and the seller has advised us he would be willing to enter into a lease agreement for the commercial unit for 5 years at 9,600 p/a. Therefore a total potential annual rent roll of circa 32,000. However, we believe with some general improvements to the flats, there is significant scope to uplift rents, creating a total rent roll of over 36,500 p/a. As an alternative, we understand the seller would also be willing to sell the business/goodwill including stock. Please contact the office for more information. Each unit is separately metered and all the flats have gas central heating.

3

4

5

6 LOCATION Travelling from Headingley on the Otley Road, turn right onto St Michaels Road and immediately left onto St Michaels Road which continues over Cardigan Road. At the small railway bridge continue along past the allotments, turn left onto Stanmore Hill, Knowle Mount is on the right. Council Tax Band A TENURE Freehold EPC RATINGS Village Shop Non-Domestic EPC D (83), Flat A & B 21 Knowle Mount EPC D, Flat C 21 Knowle Mount EPC E, 23 Knowle Mount EPC D POSSESSION Convenience store; The seller currently runs a convenience store business from the lower ground floor and we are advised that the seller would be willing to enter into a 5 year lease agreement at 9,600 p/a. Ground floor flat Let on an AST periodic 600 pcm First floor flat Let on an AST periodic 350 pcm First floor flat Let on an AST periodic 389 pcm Top floor flat Let on an AST periodic 525 pcm We understand some of these rents are lower that stated on the tenancy agreements as the seller offered an incentive to continue their tenancies Offer procedure If you would like to make an offer on this property, please contact our office as soon as possible. Any evidence of funding you can provide to support your offer will help to inform the seller of your position. We strongly advise taking independent mortgage advice and can recommend a mortgage broker along with other property professionals. Viewings All viewings are by appointment. Please note that some viewing arrangements may require at least 24 hours notice. Appliances/Services None of the above appliances/services have been tested by ourselves. We recommend purchasers arrange for a qualified person to check all appliances/services before legal commitment. Management Clause If a third party agent is involved with the letting of this property, there may be associated obligations and fees for a buyer. We advise your legal advisor checks any agreements or contracts prior to commitment. These particulars are intended to give a fair description of the property but their accuracy cannot be guaranteed, and they do not constitute an offer or contract. Intending purchasers must rely upon their own inspection of the property. 21 OTLEY ROAD HEADINGLEY LEEDS LS6 3AA T: enquiries@castlehill.co.uk