Studio for sale

Millwright Street, Leeds LS2

Summary

Being sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid 50,000

This first-floor apartment presents an excellent opportunity for investors seeking a strong-performing city centre investment. Being sold as an investment property, it currently offers an impressive gross yield of 19%, making it an attractive addition to a rental portfolio.

Situated within Ahlux House on Millwright Street, the property enjoys a highly convenient central Leeds location, ideal for tenants wanting immediate access to the city's amenities. John Lewis, Victoria Gate, a wide selection of shops, restaurants, bars, and leisure facilities are all within easy walking distance, while nearby transport links provide excellent connectivity in and around the city.

Leasehold information Lease term: 125 years from 1st September 2006
Ground rent 230.86 pa
Service charge 1,581.64 pa

Please note the development requires remedial work for fire safety and no EWS1 certificate is currently available. The seller is a none qualifying leaseholder. The management company have not yet released a programme of works required or any costs. For this reason the property is offered for sale at a heavily discounted price and available to cash buyers only.

Ahlux house Communal entrance with mail boxes and lift to all floors.

Entrance 5' 4" x 5' 1" (1.63m x 1.56m) Carpeted entrance hall.

Living area 14' 0" x 13' 2" (4.27m x 4.02m) Open plan living area with floor to ceiling window and patio door leading to the balcony.
The room is carpeted and has electric wall mounted heater.

Kitchen (Open Plan) The kitchen has a range of fitted units, electric oven, electric hob, undercounter washing machine and freestanding fridge / freezer.

Study 10' 4" x 9' 6" (3.15m x 2.91m) Please note the study room has no natural light.
Carpeted with electric wall mounted heater.

Bathroom 7' 4" x 5' 6" (2.26m x 1.70m) The bathroom comprises; bath with shower over, hand basin, w.c. And chrome towel rail.

*Please note photos were taken prior to tenancy

Council Tax Band: B
Tenure: Leasehold
Length of Lease: 125
Annual Ground Rent Amount: 231.00
Annual Service Charge Amount: 1,582.00

Auctioneers Additional Comments

Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.

Auctioneers Additional Comments

The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.