Westmoreland Apartments

Pure Investor is delighted to bring to the market this fantastic opportunity to purchase six apartments in the same development. The apartments consist of five, one-bedroom apartments and one, two-bedroom apartment.

Every one-bedroom apartment comes with a family bathroom, and the two bedroom apartment has two bathrooms. The apartments are spread over three floors with flats 1 & 2 on the ground floor, flats 3 & 4 on the first floor and flats 5 & 6 in the top floor. Each apartment is fully occupied with many of the tenants being in a significant period of time, with one being in one of the apartments for over ten years. Each apartment has been well maintained by the current landlord and the tenants also do the same.

Situated in Wakefield town centre the apartments are ideally located for people who work in the town centre, or who need to good public transport hubs in close proximity. There are two bus stops directly outside the development on both sides of the road. Wakefield bus station is a 4-minute walk and buses running to Leeds, Bradford, Huddersfield etc. Wakefield train station is a 13-minute walk where trains run to London, Leeds, Sheffield and offers connecting trains to Manchester and Manchester Airport.

Westmoreland Apartments - Investment Breakdown
- Address: Westmoreland Street, Wakefield WF1 1PJ
- Asking Price: £460,000.00
- 6 Apartments (5 x 1-bed. apartments, 1x 2-bed. apartments)

Apartment and Tenancy Breakdown
o Flat 1 - £625.00pcm - Same tenant for past 3 years
o Flat 2 - £645.00pcm - Tenanted for 1 year
o Flat 3 - £600.00pcm - Same tenant for approximity 10 years
o Flat 4 - £725.00pcm - Same tenant for the past 2 years
o Flat 5 - £541.67pcm - Same tenant for approximately 10 years
o Flat 6 - £600.00pcm - Same tenant for approximately 10 years

- Overall Rental Income: £3,736.67pcm (£44,840.04 per annum)
- Gross Yield: 9.7%
- Tenants pay for their own bills. Only additional costs would be to the communal areas which the landlord has confirmed has been minimal since purchasing.
- Tenure: Leasehold (990-years remaining approx)
- Tenants have confirmed that their intent to stay
- We have visited the development personally and have visited all the apartments with one exception.

Westmoreland Apartments - Key Points

Location

Wakefield, United Kingdom

Tenure

Leasehold

Completion

Completed and tenanted

Rental Yield

9.7% yield