George House, George Street, Wakefield
- PROPERTY TYPE
Apartment
- BEDROOMS
1
- BATHROOMS
1
- SIZE
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Key features
- 8.18% Gross Yield / 7.31% Net Yield - well above the UK residential average of ~5%
- Tenant in Situ, Not in Arrears - immediate rental income from day one, zero void risk at purchase
- 999-Year Lease (2023) - effectively freehold security with no short-lease risk
- £750pcm / £9,000 Annual Rent - strong income relative to the £110,000 asking price
- Prime Wakefield Location - 12 mins to Leeds by rail, direct links to Manchester & London Kings Cross
- Low Annual Charges - just £960 p.a. in combined deductions, maximising net returns
Description
Address: 16 George House, George Street, Wakefield, WF1 1NH
Property Type: 1-Bedroom Apartment
Asking Price: £110,000
Lease: 999 Years (as of 2023) - effectively freehold security
Tenure: Tenant in Situ (no void period, immediate income from day one)
FINANCIAL SUMMARY
- Monthly Rental Income: £750.00
- Annual Rental Income: £9,000.00
- Annual Service Charge: £850.00
- Annual Ground Rent: £110.00
- Total Annual Deductions: £960.00
- Annual Net Income: £8,040.00
GROSS YIELD: 8.18%
NET YIELD: 7.31%
With a tenant already in place and not in arrears, this investment delivers immediate returns with zero void risk at point of purchase. At £110,000, the price-to-income ratio is highly attractive compared to equivalent assets in Leeds or Manchester.
WHY WAKEFIELD?
Wakefield is one of Yorkshire's most compelling locations for residential investment:
- Excellent Transport Links - Direct rail connections to Leeds (12 mins), Manchester, and London Kings Cross via LNER, making it a prime commuter destination
- Strong Rental Demand - A growing professional and working population drives consistent tenant demand across the city centre
- Affordable Entry Point - Significantly lower purchase prices than Leeds or Sheffield, yet strong rental values deliver superior yields
- Regeneration & Growth - Wakefield city centre has benefited from significant investment and regeneration, increasing both capital values and rental appeal
- Low Cost of Living - Attracts tenants priced out of larger cities, ensuring a stable, long-term rental pool
- The Hepworth Gallery & Cultural Quarter - Wakefield's cultural renaissance has raised its profile and desirability as a place to live
WHY THIS INVESTMENT STANDS OUT
- Tenant in situ - income from completion, no void period
- 8.18% gross yield – significantly above the UK residential average of ~5%
- 999-year lease (2023) as close to freehold as leasehold gets, no short-lease risk
- Low annual charges - combined deductions of just £960 p.a. protecting net returns
- Tenant not in arrears - clean, low-risk investment from day one
- Ideal for portfolio investors and first-time landlords alike
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Yes
- GARDENA property has access to an outdoor space, which could be private or shared.
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- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Energy performance certificate - ask agent
George House, George Street, Wakefield
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Visit our security centre to find out moreDisclaimer - Property reference 16-george-house. 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 Pure, Manchester. 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.
*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited. **This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.
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