Property Description

A rare and exciting residential investment opportunity to acquire a 5x apartments, comprising of 1 and 2 beds, located on the top floor of a former converted office block, all with EWS1 forms in place. All five apartments are currently let on assured shorthold tenancy agreements, producing a combined gross income of £48,300 per annum. Which represents an outstanding 17.5% return based on the guide price. Some of the apartments may lend themselves to scope for rental increase. All five apartments are well presented and equipped and enjoy fantastic views across Leeds over to the city centre and beyond. Further benefits are a 10 year insurance warranty from 2017, separate storage cupboards, ideal for bikes and large belongings, located between the fourth and fifth floor. Allocated parking is in the underground car park with electric up and over door and with 1x space per bed (7x in total). There is also direct access to the lift from the car park. York Towers is situated in the context of an established and popular residential location, with nearby local shops and is positioned along the A64 which provides swift access onto the city centre. The M1 Motorway is a short commute away. The sale provides a genuine opportunity for a discerning purchaser looking to acquire a high yielding residential investment property, offered for sale a very sensible and attractive guide price. This property may qualify for stamp duty land tax relief, subject to certain conditions, please see further details below. Owner selling due to retirement. Additional Information Parking Arrangements: Allocated parking Water: Mains/Electric immersion Electric: Mains Sewerage: Mains Heating: Electric heaters Building construction: Unknown Flood Risk: High Broadband: Standard, Superfast and Ultrafast available Mobile Signal: O2, EE, Three and Vodafone available Satellite and Cable TV Availability: BT and Sky The accommodation and rents of the individual apartments are as follows:

Apartment 28

Entrance hallway, open plan living/kitchen, one bedroom, bathroom. 428 sq. ft. Let on an AST at £675 pcm (£8,100 per annum).

Apartment 29

Entrance hallway, open plan living/kitchen, master bedroom with en-suite shower room, further guest bedroom, bathroom. 593 sq. ft. Let on an AST at £850 pcm (£10,200 per annum).

Apartment 30

Entrance hallway, open plan living/kitchen, double bedroom, bathroom. 465 sq. ft. Let on an AST at £825 pcm (£9,900 per annum).

Apartment 31

Entrance hallway, open plan living/kitchen, bedroom and bathroom. 446 sq. ft. Let on an AST at £800 pcm (£9,600 per annum).

Apartment 32

L-Shaped entrance hallway, open plan lounge with galley kitchen, master bedroom with en-suite shower room, further guest bedroom and bathroom. 692 sq. ft. Let on an AST at £875 pcm (£10,500 per annum).

Leasehold Information

Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.

Draft Sales Details

These sales details are awaiting vendor approval.

Land Tax Relief

<br>We believe that this property may be of a type that qualifies for Stamp Duty Land Tax/Land and Buildings Transaction Tax/Land Transaction Tax relief (as applicable). We work with a tax consultancy who can provide expert tax advice in this regard. Free consultations are available. You will only be charged a fee for this service based on any actual tax savings made, on a percentage basis. We in turn will receive a fee from the provider in exchange for referring you. Please contact us if you are interested for further details.

Tenure

Leasehold

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