Description

AN EXCITING INVESTMENT OPPORTUNITY TO ACQUIRE A GRADE II LISTED FREEHOLD BUILDING COMPRISING SIX SELF CONTAINED APARTMENTS CURRENTLY LET TO PROFESSIONAL TENANTS. Freehold. Council Tax Bands C & D. THE BUILDING Presented to the market with the benefit of NO ONWARD CHAIN, this is a great opportunity to purchase a ready-made investment which is currently producing £91020 per annum exclusive of all utility and council tax bills. Built in 1835 and located within the Headingley Hill Conservation Area, this listed building was converted into self-contained units in 2009 by the current owner (with full planning approval & listed building consent). The properties have hardwood double glazing and gas central heating. The apartments are currently let to professional tenants on Assured Shorthold fixed term tenancies through to Summer 2025. Four of the apartments use a communal entrance and hallway accessed at the front of the building, with the other two apartments each having a private entrance at the rear. Each apartment has its own gas and electric meters, gas combi boiler, water rates and council tax band. Off road parking for residents and their visitors is available at the rear of the development, with one of the parking spaces fitted with a EV charge point. The property is very well maintained by the current owner, with general spruce up work such as redecoration, new carpets etc readily done between tenancies. In recent years, three of the flats have had new gas central heating boilers installed. The communal hallway retains the original grand staircase banister along with several original fireplaces within the apartments; with the retained original features having been restored/refurbished during the conversion work. The building is currently held on a single Freehold title, and we’ve no doubt there is the potential to split this to create individual Leasehold titles with a view to selling the flats separately in the future (if desired). Holmefield House is for sale as a going concern – current fixed term tenancies unaffected – and we highly recommended anyone who is seriously interested to arrange an early viewing. RENTAL INCOME Currently, the building is fully let to professional tenants producing a gross rental income of £91020 per annum, with minimal void periods between tenancies. We believe there is an opportunity to increase the overall rental income further by upgrading the fixtures and fittings as and when a flat becomes vacant. All tenants pay their own utility and council tax bills. THE APARTMENTS & TENANCY INFORMATION APARTMENT 1 This is a two double bed, two bath ground floor apartment benefiting from an open plan dual aspect lounge/kitchen with French doors out into the communal front garden. This apartment has a floor area of approximately 80 squares metres and is currently let on a fixed term AST until April 2025 at £1195pcm. APARTMENT 2 This is a two double bed, two bath ground floor duplex apartment benefiting from an open plan dual aspect lounge/kitchen with French doors at the rear. A new boiler was fitted in 2024. This apartment has a floor area of approximately 85 square metres and is currently let on a fixed term AST until February 2025 at £1115pcm. APARTMENT 3 This is a two double bed, two bath first floor apartment with a dual aspect lounge and a separate breakfast kitchen with a canted oriel bay window. The boiler in this property was renewed in 2021. This apartment has a floor area of approximately 74 square metres and is currently let on a fixed term AST until March 2025 at £1145pcm. APARTMENT 4 This is a three double bed, two bath (plus guest WC) first floor duplex apartment benefiting from an open plan lounge/kitchen. The boiler in this apartment was replaced in 2022. This flat has a floor area of approximately 116 square metres and is currently let on a fixed term AST until May 2025 at £1435pcm. APARTMENT 5 This is a three double bed, two bath duplex apartment benefiting from a private entrance and located at the rear of the development. This apartment has a floor area of approximately 100 square metres and is currently let on a fixed term AST until August 2025 at £1550pcm. APARTMENT 6 This is a two double bed, one bath duplex apartment benefiting from a private entrance and located at the rear of the development. This flat has a floor area of approximately 89 square metres and is currently let on a fixed term AST until August 2025 at £1145pcm. OUTSIDE The building is located at the junction of North Hill Road and Headingley Lane, yet nicely tucked away and having the benefit of south west facing communal gardens, plus off road parking for residents and their visitors. The driveway and land to the north of the development is not included within the title, although there is a right of way over the driveway for vehicular and pedestrian access. One of the parking spaces is fitted with an EV charging point and there are five unconnected EV cables installed under the car park; making it straight forward to add more EV charging points in the future. LOCATION Holmefield House is located just under 2 miles from Leeds city centre, in the sought after north Leeds suburb of Headingley, where there is a vibrant mix of leisure and shopping amenities. Buses into the city centre run regularly along Headingley Lane, making this location a popular choice for those working in the city centre. The building is a short walk to Woodhouse Ridge, a green corridor that carries you out of the city and into the countryside. The walk into town along the Ridge takes approximately 30 minutes and provides welcome respite from the daily hustle and bustle! EPC RATINGS Flat 1 – D Flat 2 - C Flat 3 - E Flat 4 - C Flat 5 – C Flat 6 - C MATERIAL INFORMATION TENURE The building is on a single Freehold title. SERVICES The property has mains gas, electricity, water and drainage/sewerage, which were connected and working at the time of our inspection. BROADBAND/MOBILE SIGNAL & COVERAGE BROADBAND is available in this area / MOBILE SIGNAL & COVERAGE is available in this area. FLOOD RISK & PLANNING PERMISSION FLOOD RISK – not known to be an issue / PLANNING PERMISSION – none in the immediate area. COUNCIL TAX BAND C (except for Flat 5 which is Band D)