Project Description

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Location
The subject property is located on the eastern side Archery Road in the Woodhouse area of the City of Leeds.

Archery Road  is located just 0.5 miles from Leeds city centre and is in the heart of the student area with Leeds Becket University and the University of Leeds being within easy walking distance. In addition Leeds General Infirmary is just a short distance away.

Given the location of this property there is an abundance of independant and national shops, bars and restaurants to help service the needs of the residents.

The area is also well serviced by an excellent public transport system and major motorway links to the north of the country

Description
Located in a cul de sac this three storey bay fronted property is entered by way of a small pallisade to an entrance hallway.

To the ground floor there is a communal lounge area, a double bedroom and a kitchen to the rear which hosts a good range of base and eye level units.

Upstairs to the first level are two further double bedrooms, a single bedroom and three puice bathroom suite with shower over bath.

To the second floor there are two further double bedrooms with the benefit of velux windows.

In addition there is a basement to the property and the adjoining property has  been converted to four large flats that generate significant income.

Accommodation
Total    220m2    2368ft2
Approximate gross internal area taken from the EPC Register

Services
We understand the property is connected to mains gas, electricity, water and drainage.

Tenure
The property is freehold

Investment Analysis
The rooms are currently rented as follows:
Double bedroom 1: £69.50 pw
Double bedroom 2: £69.50 pw
Double bedroom 3: £69.50 pw
Double bedroom 4: £69.50 pw
Double bedroom 5: £69.50 pw
Single bedroom 1: £57.69 pw

This equates to £21,700 pa and represents a gross yield of 7.75% based on a purchase price of £280,000.

Council Tax
The property is rated in Council Tax Band C. Council Tax payable (2016/2017) is £1263.28 p.a. However, if the property is rented to students council tax would not be applicable.

*Guide Price
£280,000

PLEASE NOTE, PHOTOGRAPHS HAVE BEEN PROVIDED BY THE VENDOR AND NO INTERNAL INSPECTION HAS TAKEN PLACE

Viewing by Appointment

To view this property, please contact John Pye Property – property@johnpye.co.uk – 0115 970 6060

Please click the following link to access the legal pack documents – http://www.johnpye.auctiondocs.com/

Address

97 Archery Road
Leeds
LS2 9AU

Features

✓ Sought after location
✓ Currently fully let at £21,700 pa
✓ Gross yield 7.75%
✓ Good potential for capital growth
✓ Potential to convert to 3 flats (STP)
✓ Excellent transport links
✓ Close to amenities
✓ Freehold

Contact

Matt Kirk
Phone: 0115 970 6060
Email: property@johnpye.co.uk
Our Ref: PR318

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