Bank House, 138-140 Kirkgate, Wakefield, WF1 1TU

£570,000

LOCATION
The property occupies a prominent location in central Wakefield. Approximately 12 miles South of Leeds and 14 miles East of Huddersfield. Located in a popular, well established mixed use area which also has fantastic transport links. Wakefield Bus Station is a minutes walk and Wakefield Kirkgate Railway Station is also within close proximity.

DESCRIPTION
A brilliant opportunity to acquire a fully let, income producing investment property in the heart of Wakefield town centre. A large freehold spanning over 3,464 sq ft and consists of six one bedroom apartments, small rear yard with two parking spaces and two retail units, currently let to a Barbers and a Salon. These units combine to produce an annual income of £48,160 per annum, equating to a yield in excess of 8.4% based on the asking price. The commercial units both hold FRI leases and residential flats are on Assured Shorthold Tenancies.

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
138: £8,000 PA - 8 year lease from 1/10/13
140: £8,000 PA - 7 year lease from 15/8/18

Residential Flats
Apt 1: £5,040 PA
Apt 2: £5,400 PA
Apt 3: £5,040 PA
Apt 4: £5,040 PA
Apt 5: £5,700 PA
Apt 6: £5,940 PA

Total Income: £48,160 Per Annum

OUTGOINGS
Rateable Values:
138 - £6,100
140 - £7,600
Uniform Business Rate for 2018/19: £0.480.

VAT
The Vendor has elected not to charge VAT.

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

PARKING NOTES
There is the benefit of two unallocated car parking spaces to the rear of the property.

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

VIEWING
If you would like to view this property, please contact FSS on 01423 501211 and we will be pleased to make an appointment.

Our next auction is on 5th December 2019

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