Michael Moore, Moores Senior Partner, says:
“Our client bought this from another client of mine back in 2005. The property had been rented for many years at that time, and it has been as successful for the present owner as it was for his predecessor – obviously generating much higher rental income! Each room has its own bathing facilities, which makes it much easier to let to either a group of students or on a room-by-room basis; recently our client has found this the more lucrative means of letting. I think there’s scope to uplift the rents much further with additional capital investment. This could be a really good property for a landlord who is experienced at maximising returns out of investment property.”
Kristy Marsden, the Negotiator at Moores looking after this sale, says:
“The 8.6% yield is quite attractive as it stands, but with the potential to uplift the rents further, with additional expenditure on decor and furnishings, it looks like a yield of over 9% could be achieved. The configuration ensures that even if one part of the building is unlet for a period eg for redecoration or refurbishment, the remaining parts are still producing income. There should never be an instance where this property is not earning its keep!”
From the centre of Headingley by the Headingley Central shopping parade (A660) proceed south towards Leeds and turn right at the traffic lights onto North Lane. Follow North Lane around to the left in front of the Headingley Taps public house and the arc bar (on the right). Continue through the traffic lights and continue onto Kirkstall Lane. With the cricket ground on your left Estcourt Avenue can be found on the right. This property is at the junction with Estcourt Avenue and Canterbury Drive on the right-hand side.A brief history of this area
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