Here’s an opening that could be streets ahead for people looking to put some money into property in Leeds.
For this particular investment opportunity involves a little bit more than a single flat or house – it covers two whole roads in Beeston that have just come on the market.
The freehold portfolio of 73 homes on Kirk Beston Close and Cross Heath Grove is being sold after its holder, Angelic Interiors Limited, went into administration.
James Wilson, from Allsop, the property firm acting as a joint agent on the portfolio’s sale, said: “It is rare for a residential investment opportunity such as [this] to come to the market and in many ways it is an unusual opportunity, especially given its single freehold status.
“However, we expect major national interest from a wide ranging pool of investors in what is a special addition to the market.”
The portfolio comprises 44 flats and 29 houses of traditional brick construction with pitched tiled roofs.
Most of the properties are subject to tenancies, although four are currently unoccupied.
Real estate advisory firm GVA has been appointed as asset manager to the administrators of Angelic Interiors.
GVA’s Andrew Foster said: “The properties are all held under a single freehold title and there is potential for active asset management to increase rents to market levels.
“The total current rent reserved is £357,778 per annum and with the portfolio fully let the estimated rental value would be in the region of £403,500 a year.”