Summary Let Leeds is pleased to offer for sale 4 separate self-contained studio apartments in a newly built development in a prime location close to Headingley Stadium.
The studios are very well located for both the student and professional lettings markets and currently return a very healthy 7.3% gross annual yield.
Location Situated opposite Headingley stadium on St Michaels Lane, within a short walk to transport links and the vast wealth of local shops, bars and restaurants Headingley has to offer.
The location is fantastic for both students studying at the universities and young professionals commuting to the City Centre.
The development The Pavilion is a purpose built development comprising of 44 luxury studio apartments. The development was completed in Nov 2015 and is now fully let to a mixture of student and professional tenants.
The Pavilion development has some excellent features which really distinguish this building, such as a fantastic communal roof terrace overlooking the cricket ground, a common room with large sofas and huge LED TV, communal gardens, a free to use on-site gym and a handy laundry room.
Tenants feel extremely secure within the building as there are on site staff and secure key fob access systems. The property also benefits from disabled access, disabled toilets and lift.
Each apartment is extremely spacious and is provided furnished. The apartments each have their own kitchenette and en-suite shower room.
Studio A: Larger than average studio, located on the ground floor. This studio comprises of an excellent sized sleeping / living / cooking area as well as study area. With white fitted base and wall units the kitchenette includes an integrated fridge and 2 ring ceramic hob. A modern en-suite bathroom, partially tiled and neutrally decorated with large inset shower, basin and WC.
Studio B: Located on the first floor with a large floor to ceiling window, this studio comprises of a large bedroom area with fitted wardrobe, study area and wood laminate flooring throughout. The white fitted kitchenette has an integrated fridge and 2 ring ceramic hob. A modern en-suite shower room boasts a large inset shower, basin and WC.
Studio C: This studio is situated on the second floor and boasts a large bedroom area which provides enough space to dine, study, cook, lounge and sleep. The kitchenette has ample storage, sink, fridge and 2 ring ceramic hob. The en-suite shower room is again modern with neutral décor and partially tiled, with large inset shower, basin and WC and neutral lino to the floor.
Studio D: The mirror opposite of Studio B & C, this studio comprises of a good size bedroom area with a fitted double bed, fitted wardrobe and desk with room to study. Within the large living space is the kitchenette with fridge, sink, storage and 2 ring ceramic hob. Modern en-suite shower room with large inset shower, basin and WC.
Investor information Leasehold - 125 years from November 2015
Ground Rent: £350.00 pa per unit
Gross Annual Income: £24,000 pa. This is based on a guaranteed net annual income of £6.000 per unit for 3 years starting November 2015.
Please ask for further information regarding outgoing costs such as utility bills, service charges, maintenance, management fees and insurance.
All 4 units are fully let and managed by a quality management operator until 2017. The properties are currently tenanted therefore viewing is strictly by appointment only. Please me mindful that we will need to give the Tenants 48 hours notice of a viewing.
*Please note photos used in this advert are of other units within the development but are of a similar standard and layout*
|Property Type||%||Avg. current value||Avg. # beds||Avg. # bathrooms|
|End terrace house||5.7%||£156,661||2.9||1|
|Block of flats||0.6%||£2,000,000||0||0|
|Property Type||1 Bed||2 Beds||3 Beds||4 Beds||5 Beds|
|Houses||£146,238 (4)||£173,550 (29)||£215,424 (29)||£278,033 (27)||£418,325 (12)|
|Flats||£60,498 (4)||£177,203 (17)||£214,998 (2)||-||-|
|All||£103,368 (8)||£174,900 (46)||£215,396 (31)||£278,033 (27)||£439,992 (13)|