26-34a Whitecote Hill, Bramley

£495,000

LOCATION
The premises are located approximately 4.5 miles West of Leeds City Centre and approximately 6.5 miles East of Bradford and occupy a prominent trading position on small forecourt.

DESCRIPTION
A superb opportunity to acquire an income-producing investment property comprising of 5 lock up shops, 3 maisonettes and a car park to the rear which serves the tenants. The property produces an annual income of £40,740, equating to a yield in excess of 8.2% based on the asking price and there is potential to increase this income by letting the third maisonette.

The commercial tenants consist of an estate agent, hairdressers, e-cigarette shop, coffee shop and laundrette. They all hold FRI leases and the residential maisonettes are on Periodic Tenancies. There is significant potential to add-value to the maisonettes.

ACCOMMODATION
None

SERVICES
All mains services are connected to the property.

TERMS
The property is available to purchase freehold, with the benefit of the following incomes:

Commercial Units:
26: Little Echo - Lettings & Sales - £5,500 PA - 3 year lease from 9/2/18
28: The Cutting House - £5,500 PA - 6 year lease from 1/4/16
30: Vaperz'R'Us Ltd - £6,000 PA - 3 year lease from 8/4/17
32: The Tea Shop - £6,000 PA - 7 year lease from 20/10/16
34: Bramley Laundrette - £7,000 PA - new lease being negotiated

Residential Maisonettes:
26a: £5,340 PA
30a: £5,400 PA
34a: Vacant

Total Income: £40,740 PA

OUTGOINGS
Rateable Values of the Commercial elements are as follows:
26: £5,300
28: £4,850
30: £5,400
32: £5,200
34: £6,900

Uniform business rates for 2018/19: £0.480
Small business rate relief may be available to some occupiers. Further enquiries should be directed to Leeds City Council.

VAT
All figures quoted are deemed exclusive of VAT where applicable.

LEGAL COSTS
Unless expressly stated all parties will be responsible for their own legal costs in connection with this transaction.

PARKING NOTES
Car park at the rear of the building, with one designated space per unit and flat, equalling 8 spaces.

PLANNING
Interested parties are advised to make their own enquiries to the local planning authority in respect of planning proposals if any change of use is envisaged.

VIEWING
Strictly by appointment with the agent Tel: 01423 501211.

Our next auction is on 23rd May 2019

Have you got a property that you would like to sell at Auction?

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PLEASE CONTACT US FOR MORE DETAILS AND TO ARRANGE A VIEWING

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