Guide price
£85,000
(£8.61/sq. ft)
Block of flats for saleDale Street, Ossett WF5
9,870 sq. ft
About this property
Location: Ossett is a market town in West Yorkshire with a population of circa 22,000 people. It is situated approx. 3.5 miles west of Wakefield, 3 miles east of Dewsbury and 1 mile west of Junction 40 M1 Motorway. Dale Street connects Wakefield Road to the town centre and Thornes House lies at the junction with Church Street.
Description:
Thornes House is a substantial church converted to provide 18 residential units comprising 3 x studio apartments, 11 x 1-bed flats and 4 x 2-bed flats. In addition there are 2 x commercial units to the ground floor currently used for a dog grooming business and a Chinese takeaway.
All the units have been sold on 125 year Leases with exception to the dog grooming unit, which is held on a 99 year Lease.
To the outside is a yard and car parking area.
Accommodation: Floor and site plans are included for identification purposes only. We have not inspected the accommodation nor tested any of the services.
Income: We are advised the current Ground Rent Income is £5,420.10 per annum.
The ground rents are subject to reviews of 15 years (14 x flats) and 10 years (4 x flats) calculated to the Retail Price Index (rpi).
Property management:
The Landlord runs the flat management company and the buyer will be required to acquire and run the management company. The current service charge payable on account is approx. £12,000 per annum subject to a balancing charge/credit. There is a further potential income stream with a management fee. Further details on request.
Council tax / rates:
All the residential flats are in Council Tax Band A. From the voa website, the 2017 Rateable Value for the Chinese Takeaway is rv £4,400 and dog grooming unit is rv £4,500.
VAT:
All figures quoted are exclusive of VAT, if chargeable.
Price: Offers invited in the region of £85,000 subject to contract for the Freehold Interest.
Description:
Thornes House is a substantial church converted to provide 18 residential units comprising 3 x studio apartments, 11 x 1-bed flats and 4 x 2-bed flats. In addition there are 2 x commercial units to the ground floor currently used for a dog grooming business and a Chinese takeaway.
All the units have been sold on 125 year Leases with exception to the dog grooming unit, which is held on a 99 year Lease.
To the outside is a yard and car parking area.
Accommodation: Floor and site plans are included for identification purposes only. We have not inspected the accommodation nor tested any of the services.
Income: We are advised the current Ground Rent Income is £5,420.10 per annum.
The ground rents are subject to reviews of 15 years (14 x flats) and 10 years (4 x flats) calculated to the Retail Price Index (rpi).
Property management:
The Landlord runs the flat management company and the buyer will be required to acquire and run the management company. The current service charge payable on account is approx. £12,000 per annum subject to a balancing charge/credit. There is a further potential income stream with a management fee. Further details on request.
Council tax / rates:
All the residential flats are in Council Tax Band A. From the voa website, the 2017 Rateable Value for the Chinese Takeaway is rv £4,400 and dog grooming unit is rv £4,500.
VAT:
All figures quoted are exclusive of VAT, if chargeable.
Price: Offers invited in the region of £85,000 subject to contract for the Freehold Interest.
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