Get brand editions for North Property Group Ltd, Leeds

1 bedroom apartment for sale

Meridian House, 2 Artist St, Leeds

Sold STC £92,500

Property Description

Key features

  • CITY CENTRE DEVELOPMENT
  • WAREHOUSE CONVERSION
  • CURRENTLY LET & MANAGED BY NPG
  • LET AT 600PCM
  • CURRENT YIELD OF 7.78%
  • CLOSE TO WELLINGTON STREET
  • PARKING AVAILABLE
  • 11 UNITS FOR SALE - ENQUIRE FOR A FULL SCHEDULE
  • 0.7 MILES FROM THE TRAIN STATION
  • ***INVESTORS ONLY***

Full description

Tenure: Leasehold

MERIDIAN HOUSE Meridian House is situated in a diverse location on the fringe of Leeds city centre and enjoys excellent road links via the A58, which is a very short distance away. The apartments benefit from a range of colour coordinated kitchen units with hardwearing and stylish laminate worktops. The spacious living/kitchen areas will have a luxury vinyl tile flooring ideal for modern living. Bathrooms, with contemporary white sanitary ware and chrome fittings, have natural oak effect flooring and all bedrooms are be carpeted. The property comes with a parking space within a secure parking area, accessed via an electric entry system off Artist Street. The developer has over 25 years experience in building a diverse range of high quality homes, and has gained a reputation for their attention to detail and craftsmanship. You can be assured of clever design and specification in Meridian House. 

THE INVESTMENT This investment is extremely well priced and offers a fantastic return. The development was originally completed in 2016 and a small portfolio of units are now being sold. North Property Group currently manage the properties; they are tenanted, income generating and producing a reliable return. They have let extremely easily over the last 12 months and there is evident rental demand for the apartments due to their location and competitive rental price point. 

RETURNS This particular unit is let at £600pcm / £7,200 PA.

Current Gross Yield 7.78%

Ground Rent: £300 PA

Service Charge: £922.97

Current Net Yield: 6.46%

We believe the flat could achieve £650pcm upon relet which would increase the Gross Yield to 8.43% and the Net Yield to 7.11% - an incredible return on investment for a completed, low risk investment in Leeds City Centre!

For a full list of the available units and what they all rent at, contact North Property Group on 01134264444.
 

A GREAT INVESTMENT This is an opportunity to purchase an apartment in Leeds City Centre at a very good price. It is very rare for 1 beds to come on in Leeds City Centre for under £100k and extremely rare for 2 beds to come at under £115k, especially when they are so close to the train station.

This part of the city is also emerging with lots of redevelopment planned in the pipeline; thus suggesting room for strong capital growth. You can currently purchase this apartment for £92,500 but with 137 apartments planned at the Canal Mills development nearby with a further 5 large commercial spaces, prices are not expected to stay at this level once the redevelopment is complete. The Holts Crest Way development just a stones throw away has experienced lots of growth in the last 12 months and with the vast amount regeneration happening at the top of Wellington Street this is expected to continue.

With the centre of Leeds being just a stones throw away, the development is ideally located for all City living and all that Leeds has to offer - the Railway Station is 0.7 miles away, Harvey Nichols and the Victorian Quarter 1.8 miles, Carnegie Stadium 2.9 miles and St James's Hospital 3.3 miles.
 

A 5 MINUTE WALK FROM WELLINGTON PLACE Wellington Place offers a perfect location for business. With versatile office spaces to let, we can accommodate your organisation on the most flexible terms. If you are looking for an office space that offers a location in a prestigious address and a wealth of amenities a mere few steps away, visit Wellington Place today. When complete, the scheme will see up to 12,000 people working as well as living here, there has never been a better time to set up here. Our mixed-use buildings include offices to let, residential, retail as well as leisure. 

PARKING Allocated parking can be purchased at Meridian House for just £5,000 - with parking on Wellington Street costing close to £20,000 per bay it shows the fantastic value. 


Listing History

Added on Rightmove:
08 October 2018

Nearest stations

  • Leeds (0.9 mi)
  • Burley Park (1.1 mi)
  • Headingley (1.8 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

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To view this property or request more details, contact:

North Property Group Ltd, Leeds

41 The Calls Leeds LS2 7EY

0113 451 2989 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.

Floorplans


To view this property or request more details, contact:

North Property Group Ltd, Leeds

41 The Calls Leeds LS2 7EY

0113 451 2989 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

  • Leeds (0.9 mi)
  • Burley Park (1.1 mi)
  • Headingley (1.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

North Property Group Ltd, Leeds

41 The Calls Leeds LS2 7EY

0113 451 2989 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 102866000729. 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 North Property Group Ltd, Leeds. 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.

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