Mixed Use
An established mixed use property in Armley, Leeds. The building will appeal to those looking for a high yield and long term income. Comprising of 2 x hot food takeaway units, and a room to the ground floor. To the upper floors, there are 2 x well presented one bedroom flats, including a stylish duplex.
The current rent, with one flat vacant, is coming in at £26,820 per annum. Once fully let, this will increase to circa £35,820 per annum with further scope to increase in some areas. This equates to a yield more than 21%, based on the guide price. The landlord only pays bills relating to one of the flats one, and has very few outgoings for the building as a whole.
The property features a hard wired fire alarm system throughout, has double boarded ceilings to the ground floor, and has undergone a multitude of electrical upgrades in recent months, including giving the flats and commercial units their own supply. The flats have also had internal wall insulation installed reducing any bills for the tenants. The flats have their own access, via the rear door.
Two Hot Food Takeaway Units, Shared WC, Entrance Hall and Studio/Office.
Flat 1 - Lounge, Kitchen, Bedroom and Shower Room. Flat 2 - Lobby, Living Kitchen.
Flat 2 - Bedroom and Shower Room.
Freehold. Part let/part vacant.
Auction Details
The sale of this property will take place on the stated date by way of Live streamed auction and is being sold under the Unconditional sale type.
Binding contracts will be exchanged at the point of sale.
All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of 1.8% of the purchase price inc. VAT.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.
This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
