Mixed use commercial and residential property offered of sale via auction. The property comprises a commercial unit occupying the cellar and ground floor levels, with 3 x one-bedroom apartments located on the first, second and third floors. All of the above are fully occupied generating a gross rental income of £28,380 per annum reflecting over a 13.5% gross yield based on the guide price. This would be a great addition to an investment portfolio. The property is situated on a mixed-use road close to local shops and amenities. Transport links are provided by Wakefield Westgate rail station. Please note that auction house has been unable to inspect the cellar. Additionally, we have been advised whilst the commercial lease states the rent increase to £580 was due to take effect from December 2022, this has actually taken effect from this month. A 21 day completion applies to this lot.

Lower Ground Floor

Cellar

Ground Floor

Shop floor, utility area, toilet and external bin store

First Floor

One bedroom apartment comprising lounge/kitchen, bedroom and shower room.

Second Floor

One bedroom apartment comprising lounge/kitchen, bedroom and shower room.

Third Floor

One bedroom apartment comprising lounge/kitchen, bedroom and shower room.

Additional Information

Council Tax

Wakefield City Council

Tenure

Freehold

Charges and Payments

In addition to the deposit Administration Charge: 0.9% inc VAT of the purchase price subject to a minimum of £1,500 inc VAT.

Additional Fees

Administration Charge - See above

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.