A SUBSTANTIAL DETACHED EIGHT BEDROOMED HMO INVESTMENT PROPERTY STANDING ON A PROMINENT CORNER OVERLOOKING EAST END PARK PLAYING FIELDS, CLOSE TO LOCAL AMENITIES AND WITHIN EASY REACH OF LEEDS CITY CENTRE AND ONTO THE MAJOR ROAD & MOTORWAY NETWORK.
The property, formally a doctors surgery, has been converted into a very good quality and well managed eight bedroomed House in Multiple Occupation (HMO) with the relevant planning permission and is being run as a very successful residential investment, currently generating a total gross rent of £51,600 including bills.
The seller believes the net rent less bills to be circa £42,500 p/a offering a very attractive yield of circa 8.5ºsed on the asking price. (Bills include gas, water, broadband and council tax. Tenants pay their own electric based on individual sub-meter usage). The rooms are all let on individual tenancies with most now on rolling contracts.Each bedroom is self-contained having an en-suite shower room w/c and kitchenette, with an additional lounge and kitchen for communal use.
There is an extensive basement providing useful storage, but also offers potential for further development, plus a large garage to the side, again, ideal for storage but offering great potential to develop or incorporate into the main building, all subject to relevant consents.The seller has a HMO Licence for eight occupants until 6th November 2025.
There is no lettings management tie-in, allowing buyers to self-manage or appoint their preferred agent.
Internal viewing strongly recommended to fully appreciate this well managed and successful investment concern.
Tenure – FreeholdÂ
Possession – The property is being sold subject to the existing tenancy agreements.
All viewings are by appointment. Please note that some viewing arrangements may require at least 24 or 48 hours’ notice.
None of the listed or displayed appliances or services have been tested by ourselves. We recommend purchasers arrange for a qualified person to check all appliances/services before legal commitment.
If a third party agent is involved with the letting of this property, there may be associated obligations and fees for a buyer. We advise your legal advisor checks any agreements or contracts prior to commitment.
This property is in an Article 4 direction area which relates to Houses in Multiple Occupation (HMO’s). Please see the Leeds City Council website for more information.
If you would like to make an offer on this property, please contact our office as soon as possible. Any evidence of funding you can provide to support your offer will help to inform the seller of your position. We strongly advise taking independent mortgage advice and can recommend a mortgage broker along with other property professionals.
These particulars including the description, measurements and photographs are intended to give a fair description of the property, but their accuracy cannot be guaranteed. Other information contained in this brochure is all in the public domain and obtained from various sources as listed in this report. These particulars do not constitute an offer or contract. Intending purchasers/tenants must rely upon their own inspection of the property.
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LEEDS, LS9
Valid until 02.07.2033
Property Type: | Detached house | Walls: | Solid brick, as built, no insulation (assumed) |
Walls Energy: | Very poor | Roof: | Roof room(s), ceiling insulated |
Roof Energy: | Poor | Window: | Fully double glazed |
Window Energy: | Average | Main Heating: | Boiler and radiators, mains gas |
Main Heating Energy: | Good | Main Heating Controls: | Programmer, TRVs and bypass |
Main Heating Controls Energy: | Average | Hot Water System: | From main system |
Hot Water Energy Efficiency: | Good | Lighting: | Low energy lighting in all fixed outlets |
Lighting Energy: | Very good | Floors: | To unheated space, no insulation (assumed) |
Secondary Heating: | None | Total Floor Area: | 331 m2 |
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Information produced by HM Land Registry. Crown copyright and database rights 2024
Council Tax pays for multiple services in the property's local authority with only part of it going to the council itself. Residences within a Parish or Town Council area have an additional charge to fund the body. Each parish/town council has a different budget and imposes different fees. Not all councils have parishes/town councils and this varies across the country.
In instances where parish/town councils do affect the council tax value and we do not have the exact figure, we present council tax data with the below highlights. Take care to confirm which is being presented by the dashboard as this will need to be made clear to your clients:
avg - When we indicate the Council Tax price is 'avg', it means we have not been able to obtain an exact figure, so this number represents the mean value of Council Tax across the council for that property band. The exact figure will be slightly higher or lower because each parish/town council is priced differently.
min - When we indicate the Council Tax is a 'min', it represents the known amount that the council sets for itself, but excludes the parish/town council cost which we have not been able to obtain. The additional cost will need to be considered as it will be greater than the indicated price.