Residential - Investment - Leeds Residential Investment - Leeds
- Constructed to a high standard and specifically designed for students and young professionals
- Attractive location for both students and young professionals in close proximity to Universities, Leeds City Centre and Headingley town centre, as well as Burley Park and Headingley train stations
Rare opportunity to acquire two recently constructed and income producing freehold residential investments in north Leeds.
Boston Exchange: 12 houses comprising 4 five beds and 8 six beds.
83 Cardigan Lane: Unbroken block of 22 self contained apartments comprising 18 studios and 4 one beds.
Both properties are circa 20 minute walk from the retail and leisure centre of Headingley, The University of Leeds Campus and Leeds Beckett University's Headingley Campus. Leeds City Centre is a short bus or train journey away from both properties, where direct rail links are available to London (circa 2 hours), as well as Manchester, Newcastle, York, Edinburgh, Sheffield, Hull and a number of other major towns and cities.
At the time of marketing, 21 of the apartments and all of the houses are let on Assured Shorthold Tenancies, with only 1 studio apartment within 83 Cardigan Lane currently vacant. Current projected gross annual rental income for the 2017/2018 academic year is £596,039, comprising £418,742 for Boston Exchange and £177,297 for 83 Cardigan Lane, reflecting the current vacancy and some of the units being let for less than 52 weeks .
Projected gross annual rental income for the 2018/2019 academic year based on the 52 week rents agreed for 7 of the apartments and 10 of the houses, plus estimated rents for the remaining units (assuming 52 week lettings) is summarised in the table to the right. A detailed breakdown of historic, current and projected rents for each of the houses and apartments is available.
Boston Exchange is close to both Burley Park and Headingley Train Stations. Again, the surrounding area is predominantly residential with Headingley Stadium, Yorkshire County Cricket Club, Kirkstall Leisure Centre and Morrison's all within a short walk.
Headingley has an abundance of amenities, including shops, cafes, restaurants, traditional pubs and contemporary styled bars. Headingley stadium hosts international cricket and is home Yorkshire County Cricket, Leeds Rhinos rugby league and Yorkshire Carnegie rugby union clubs.