Get brand editions for John Pye Property, Nottingham

Commercial Property for sale

Talbot Mills, Well Lane, Batley, West Yorkshire, WF17

Guide Price* £399,950

Property Description

Key features

  • Seven apartments
  • Current yield gross 7.8%
  • Reversionary yield 9%
  • Current income 31,200 pa
  • Reversionary income 36,600 pa
  • Opportunity to add value
  • Strong rental locations
  • Low maintenance
  • No void periods over recent years
  • All flats in good condition

Full description

Location
Talbot Mills, Batley is on Well Lane adjacent to the Tesco Extra site in the town centre. Batley is an attractive market town approximately 9 miles from Leeds.

Westminster House, Lincoln is situated approximately 2 miles to the north of the city centre at the eastern end of Welton Gardens.

Description
Talbot Mills is a three storey building comprising of twelve apartments. The apartments all have an open plan / living kitchen area, separate bathroom and bedroom. The kitchens all have electric hobs, inegrated ovens, tiled splash backs and fitted base and eye level units. The bathrooms all have a bath with shower over, W.C, hand basin, extractor fans and tiling around the bath.

The apartments are all modern and have been well maintained. As a result, outgoings on the property are expected to be low.

Westminster House is a three storey buidling comprising of twelve apartments, with the subject apartment offering duplex accommodation over the first and second floors. On the first floor there is an open plan kitchen / dining area and a separate living room. At second floor level there are two double bedrooms, a separate bathroom and a toilet. The kitchen benefits from an integrated hob and oven and fitted base and eye level units. There is gas central heating and UPVC double glazing.

The living accommodation on the first floor includes an open plan kitchen / dining area, separate living room and entrance hall. At second floor level there are two double bedrooms, a separate bathroom and a toilet.

Six of the flats are located in Batley which is located within a 7 mile radius of two of the three largest cities in Yorkshire - Bradford and Leeds. The strong retail demand in Batley saw a 30 million Tesco superstore open that employs over 450 local staff in its 80,000 sq. ft. store. The six flats in Batley are all in the same block which is in a highly desirable location in the town centre. The flats are all modern and only require a low level of maintenance. The flats in Batley have previously all rented for 425 pcm but to avoid any void periods an agreement was reached with a housing association and all flats are now rented at 350 pcm.

The flat in Lincoln was refurbished approximately two years ago and offers modern living accommodation close to the city centre. The current tenant has been in occupation since May and has agreed to renew his lease for an additional 12 months.

The total annual rental income of the portfolio is 31,200, reflecting a yield of 7.8%. If the rents were increased to 425 pcm on the Batley flats the reversionary yield will reflect approximately 9%. As above, the flats in Batley have all been previously let at 425 pcm.

Schedule of Accommocation - please see sales brochure

More information from this agent

Nearest stations

  • Batley (0.3 mi)
  • Dewsbury (1.5 mi)
  • Ravensthorpe (2.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

John Pye Property, Nottingham

James Shipstone House, Radford Road, New Basford, Nottingham, NG7 7EA

0115 798 0657 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

  • Batley (0.3 mi)
  • Dewsbury (1.5 mi)
  • Ravensthorpe (2.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

John Pye Property, Nottingham

James Shipstone House, Radford Road, New Basford, Nottingham, NG7 7EA

0115 798 0657 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.

Disclaimer - Property reference Talbotmills. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by John Pye Property, Nottingham . Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call John Pye Property, Nottingham on 0115 970 6060.


Map data OpenStreetMap contributors.