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 The purchaser came to us from the advertisement on Daltons. 

Julie Ashcroft (Mar 2017)
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Freehold Price: £350,000
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Business Description
Rental Income £24,224 Rising To £26,646 In Dec 2018
D1 Planning Permission & 8% Yield
Affluent Trading Location In Leeds
Care Charity Current Tenant for 11 1/2 Years
Residential Area Close to Doctors, Schools, Businesses
Split Between Residential Care & Office Space
Detached Property With Parking
Could Accommodate A Variety Of Businesses
EPC - C
REF 6373 – Freehold D1 Investment Property

Blacks Brokers are pleased to bring to the market this freehold D1 investment property located in the much sought-after area of Swillington, West Yorkshire.

INTRODUCTION

3-5 Astley Lane is a large, detached property sitting in it’s own grounds with parking for approximately six vehicles. The property is currently home to a care charity. The tenancy agreement has been in place for eleven and half years (correct as of June 2018) and this brings annual income of £24,224 which is due to rise to £26,646 in December of 2018.

LOCATION

The property is situated in Swillington – this is a very pleasant suburb in north Leeds. This is a mainly residential area which is well linked by the M1 and M62. Swillington is well populated and the property is close to a local doctors surgery, primary school and a handful of local businesses, shops and the like.

REASON FOR SALE

Our client built this property in 1984 for investment purposes and now offers for sale in order to invest in a new project.

LEASE

Freehold proposition; no lease details applicable.

BUILDING LAYOUT AND DESIGN

3-5 Astley Lane is a large, detached building which our clients had built for them in 1984.
There are two entrances to the ground floor office space; one at the front of the building and one to the rear of the building. The second floor can be accessed via a separate door to the left of the building. The current tenant is a residential care business catering specifically for adults with additional needs. The downstairs area is used as admin office space and comprises of a long entrance porch which leads into a large reception area with a large toilet and sink area, adjacent to this is a kitchen and three large offices. The upstairs is used for residential care and comprises of three spacious bedrooms used for respite care – these rooms are supported by a shared bathroom with toilet, sink and shower over bath, an additional bathroom with toilet and sink, kitchen and communal lounge area. All rooms throughout the building are double glazed excluding the entrance porch area which is single glazed.
Each area of the property is well presented and fully equipped to accommodate the business that is currently in situ. However, the property could also be easily converted to accommodate a variety of other businesses.

BUSINESS RATES

The rates are currently paid by the tenant and the rateable value is £8,000.

SUMMARY

This freehold property offers a very appealing yield of 8% and a long term tenant. Early viewings are strongly advised.
Tenure: Freehold

Location Details: Swillington

Listed by: Blacks Business Brokers Limited

Find out more about this business opportunity.

 
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6373
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