Cornerstone Estate Agents Leeds

Tel: 0113 2745360

13 Stonegate Road
Leeds
West Yorkshire
LS6 4HZ

Apartment 7 Swallow Hill Works, 353, Tong Road, Leeds, LS12 4QG

£50,000

1 Bedroom Studio

Introduction

No Chain - Good-Yield Investment.

Cornerstone Leeds are delighted to present this fantastic opportunity to acquire apartment/unit 7 a well-presented top-floor studio apartment within the fairly characterful Swallow Hill Works development.

Set within a part-converted mill complex, this unique development has been transformed into just eight individual apartments circa 2016, offering a slight blend of character and practicality that appeals strongly to both investors and first-time buyers alike.

Investment Highlights

This property is currently tenanted, generating £675.00 per calendar month, and is offered to the market with no onward chain, ensuring a smooth and swift transaction.

Annual rental income: £8,100.00
Asking price: £50,000
Gross yield: 16.2%

The property is sold with a 250-year lease from 1st January 2016, providing long-term security and peace of mind for investors.

This exceptional gross yield, combined with the long lease, makes the property a highly attractive ready-made investment.

Location

Swallow Hill Works is ideally positioned approximately 2 miles from Leeds City Centre, making it a highly convenient base for tenants and owner-occupiers alike.

Leeds city Centre offers an extensive range of amenities including:

High-end and high-street shopping
A thriving food and drink scene
Major employers and business districts
Universities and excellent transport links

Locally, the property benefits from:

Nearby shops and everyday conveniences
Easy access to the Leeds Ring Road
Excellent connectivity to the M621 motorway, which in turn provides direct routes to the M1 motorway and M62 motorway

This makes commuting in and around Leeds, as well as further afield, both simple and efficient.

The Apartment

Situated on the first (top) floor, the apartment offers approximately 303 sq ft of well-utilised living space.

The accommodation comprises:

A bright open-plan layout combining living, kitchen and sleeping area
A fitted kitchen with practical storage and workspace
A separate bathroom fitted with shower, WC and wash basin

The design maximises space and functionality, creating a comfortable and low-maintenance home.

Why Buy?

Investment with tenant in situ
250-year lease from 2016
No chain for a hassle-free purchase
Fairly characterful mill conversion comprising only 8 apartments
Excellent transport links and city access
Affordable entry point for first-time buyers and investors.

This property also represents outstanding value for those looking to get onto the property ladder, offering an accessible price point.

Important Information

Tenure - Leasehold.

Lease Term - 250 years from the 1st January 2016.

Service Charge including Buildings Insurance - £2,000.00 per annum.

Ground Rent - £250.00 per annum.

Managing Agent - Westbury Residential.

Council Tax Band A.

1. In accordance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended), estate agents are legally required to verify the identity of their applicants and understand the source of any funds used in a property transaction. As part of our due diligence process, all purchasers and individuals providing funds (including giftor(s)) will be required to provide: Proof of identity, Proof of address and Evidence of the source of funds. We carry out electronic anti-money laundering (AML) checks on all buyers and giftor(s). A non-refundable fee of £40.00 (including VAT) will be charged per individual to cover the cost of these checks. We apply a risk-based approach in line with regulatory requirements. This means the level of information and documentation we request may vary. In some cases, additional evidence may be required to meet our obligations under the regulations. All requested documentation must be provided in full for us to proceed with the transaction. Failure to comply may result in delays or the inability to continue with the process.

Please note: Where we have knowledge or suspicion that a transaction involves criminal property or money laundering, we are legally required to make a report to the National Crime Agency (NCA).

2. We endeavor to make our particulars accurate and reliable. However, they are only a general guide to the property, and if there is any aspect of our particulars which is of importance to you, please contact the office, and we will be happy to check where we reasonably can.

3. Measurements: These approximate room sizes are only intended as general guidance.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property.

5. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract; the matters referred to in these particulars should be independently verified by prospective buyers. Neither Yorkshire's Finest Leeds Limited T/A Cornerstone Sales & Lettings nor any of its employees or agents has any authority to make or give any representation or warranty about this property.

Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.

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