Lancaster Park Road, Harrogate, HG2 7SW
£1,325,000

LOCATION
The property is located very close to Harrogate District Hospital, it is also readily accessible to local shopping amenities as well as Harrogate town centre and good road and rail public transport links.

DESCRIPTION
A fully let detached residential investment property, comprising 13 self-contained apartments, all let on fixed term Assured Shorthold Tenancies. Current annual rental Income is £87,840 thus producing a gross rental yield, based on the guide price, of 6.62%.

The property has good potential for increasing rental income, both from future refurbishment of those apartments not already fully modernised, plus opportunities, subject to the necessary consents, renewal of unimplemented permission no 6.79.4190.H.FUL for the conversion of the basement to form 2 dwellings, and also to create two further apartments to the rear of the main building, both of which we understand attained previous planning consent 06/01564/Erection of third storey rear extension to form two new apartments (Site Area 0.1ha) which has now lapsed.

All 13 apartments have gas central heating, the communal hall stairs and landings have been well maintained and there is a large car park to the rear accessed via the service road, Lancaster Park Lane. There are gardens to the front and rear.

5 Lancaster Park Road - Flats 1, 2, 3, 6, 7 & 8 - Grade D
5 Lancaster Park Road - Flats 4 & 5 - Grade E
7 Lancaster Park Road - Flats 1, 2, 3 - Grade D
7 Lancaster Park Road - Flats 4 & 5 - Grade E


Solicitors: Lester Campbell, 17 Park Place, Leeds, LS1 2SJ. Tel: 0113 3229452 FAO: Victoria Martin.

SERVICES
All mains services are connected to the property.

TERMS
Freehold - subject to existing tenancies.
5 & 7 Lancaster Park Road Rent Term Deposit
Apt 1 - 5 LPR £560 pcm 29.9.21 - 28.9.22 £625
Apt 2 - 5 LPR £550 pcm 17.7.21 - 18.7.22 £625
Apt 3 - 5 LPR £550 pcm 14.6.08 - 12.6.22 £550
Apt 4 - 5 LPR £575 pcm 17.7.21 - 16.10.22 £660
Apt 5 - 5 LPR £645 pcm 1.5.21 - 30.4.22 £740
Apt 6 - 5 LPR £545 pcm 14.7.19 - 13.7.22 £615
Apt 7 - 5 LPR £560 pcm 15.8.18 - 12.8.22 £625
Apt 8 - 5 LPR £525 pcm 14.9.15 - 13.3.22 £585
Apt 1 - 7 LPR £550 pcm 26.3.21 - 25.3.22 £635
Apt 2 - 7 LPR £615 pcm 1.9.19 - 31.8.22 £575
Apt 3 - 7 LPR £570 pcm 10.9.12 - 9.9.222 £595
Apt 4 - 7 LPR £495 pcm 1.9.17 - 31.8.22 £545
Apt 5 - 7 LPR £580 pcm 1.6.03 - 27.5.22 £500

VIEWING
VIEWINGS ARE STRICTLY BY APPOINTMENT ONLY: Tel: 01423 501211.