162-165 Lower Briggate, Leeds, West Yorkshire, LS1
- SIZE AVAILABLE
18,751 sq ft
1,742 sq m
- SECTOR
Mixed use property for sale
Key features
- Recently redeveloped mixed use investment asset in the heart of Leeds City Centre, one of the UK's most vibrant residential and retail hubs.
- Unbroken freehold and long leasehold interest in 19 self-contained apartments and three prominent retail units.
- Currently generating a gross income of approx. £470,000 p.a. (residential £347,000 p.a., commercial £123,000 p.a.). Tenants responsible for payment of utilities and council tax separately.
- Strong rental tone set across the scheme with 18 of 19 apartments and all three retail units occupied. Reflects 97% occupancy rate, on a square footage basis.
- Potential to increase gross income through re-lettings of apartments and active management of the scheme.
- We are instructed to seek all expressions of interest for the freehold and long leasehold interest in the property.
Description
This presents the rare opportunity to acquire 19 self-contained apartments on a recently redeveloped high specification scheme in Leeds City Centre.
With inclusion of the retail units, the scheme has a 97% occupancy rate on a square footage basis, and is producing a gross rent of approximately £470,000per annum.
The Property
The property comprises a mixed use three-storey development offering 19 residential apartments and three commercial retail units. The apartments surround a landscaped private rear courtyard and are positioned across the ground and upper floors, whilst the retail units are located off Lower Briggate, fronting the ground floor of the scheme.
The residential apartments within the scheme provide a mixture of studio, 1, 2 & 3 bed accommodation. More specifically, there are 2 x studio apartments, 2 x 1 bed apartments, 13 x 2 bed apartments and 2 x 3 bed apartments. More details on the break down of units can be found within our Data Room. The apartments have been recently redeveloped and are fitted out to a very high specification. The apartments are spacious and light, benefitting from large double-glazed windows, open plan kitchen/ living rooms and ensuite accommodation to all two and three bedroom units.
The three commercial units front on to Lower Briggate, hence are accessible directly from the street. 164 Briggate is being utilised as a convenience store and is in a good state of repair for its existing use. 162 Briggate is to be utilised as a vape shop and is currently in shell condition awaiting fit out. 165 Briggate sits in shell condition awaiting fitout having also just had a lease agreed to a florist
Brochures
162-165 Lower Briggate, Leeds, West Yorkshire, LS1
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Leeds Station0.2 miles
- Burley Park Station1.9 miles
- Headingley Station2.6 miles
Notes
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