Mixed Use for sale

Cardinal Road,Beeston,Leeds,LS11

Offers in Region of £599,000

Property Description

Key features

  • Investment opportunity
  • Fully Tenanted
  • Refurbished Unit
  • Long lease terms

Full description

Tenure: Freehold

LOCATION
Stoneacre Properties are delighted to offer this mixed used property comprising 2 shop units and 5 one bedroom self-contained flats located within a suburban area surrounded by residential property but is close to the main shopping area along Dewsbury Road and is about 1 mile from the White Rose Shopping Centre. There is plentiful on-street and off-street parking and the area is served by public transport.

DESCRIPTION
The property comprises a stand-alone brick built building with tiled pitched roof. The ground floor comprises a convenience store and community centre & café. The convenience store has been fitted out to a high standard with air con, suspended ceiling, suberb refrigeration, and excellent shop fittings. The cafe has been fitted out to an excellent standard and is fast becoming a community hub.

The first floor is formatted into 5 separate one Bedroom self-contained flats which are let through a local housing association.

ACCOMMODATION
The property provides the following accommodation on the Ground floor:
Convenience Store 1750 sq ft 163 m2
Community Cafe 635 sq ft 59 m2

The first floor provides 5 separate flats each offering: - Living room kitchen diner, bedroom and bathroom. All units have recently been refurbished to a high standard.

There is ample room on site to extend and further develop the property and to create increased income.

PRICE
Offers in the region of £599,000

The Owner of this business has advised that he may consider selling the business should it be of interest to the property purchaser. Such a sale would be considered separate to the sale of the property.

TENANCY
The Convenience Store is offered at a rental of £20,800 pa.

The Community Café is let on a 15 year lease from March 2012 providing a current rental of £6,500 pa.

The apartments are currently let on a Assured Shorthold Tenancy Agreements and provides £98 per week which provides an annualized rental of £25,480 pa.

GROSS ANNULISED RENTAL INCOME £52,780 pa

PLANNING
All further enquiries regarding planning matters should be directed to Leeds City Council Planning Dept.

BUSINESS RATES
According to the Valuation Office Agency website, we understand that the Business Rateable Value for the:-

Convenience Store is £8,900

Community Café is £3,600

VIEWINGS
For further information or to arrange a viewing, please contact Peter Davies on 0113 237 0999.

MISREPRESENTATION ACT 1967
Stoneacre Properties acting as agent for the vendors or lessors of this property give notice that:-

The particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract.

All descriptions, dimensions, condition statements, permissions for use & occupation, and other details are given in good faith and are believed to be correct. Any intending purchasers or tenants should not rely them as such as statements or representations of fact but must satisfy themselves by inspection or otherwise as the correctness of each of them.

No person in the employment of Stoneacre Properties has any authority to make or give representation or warranty whatsoever in relation to this property.

All prices and rents are quoted exclusive of VAT unless expressly stated to the contrary.

MISDESCRIPTIONS ACT 1991
These details believe to be correct at the time of compilation, but may be subject to subsequent amendment.

ALL OFFERS ARE SUBJECT TO CONTRACT.

Details revised February 2014

Nearest stations

  • Cottingley (0.9 mi)
  • Morley (1.5 mi)
  • Leeds (2.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Stoneacre Properties, Leeds - Commercial Sales Office

184 Harrogate Road, Chapel Allerton, Leeds, LS7 4NZ

0113 237 0999 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Cottingley (0.9 mi)
  • Morley (1.5 mi)
  • Leeds (2.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Stoneacre Properties, Leeds - Commercial Sales Office

184 Harrogate Road, Chapel Allerton, Leeds, LS7 4NZ

0113 237 0999 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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