This two bedroom first floor apartment is offered for sale via traditional auction. The property is currently tenanted generating a gross rental income of £5,640 per annum reflecting a 11.2% gross yield return based on the guide price. We also believe there would be reasonable scope to increase the rent in line with market rate. Armley is located between the M621 motorway and Kirkstall Road and is ideally situated just under a mile away from the vibrant Leeds centre. The location is a diamond of a commute to Leeds city centre being just a 5-10 minute bus ride away. Leasehold Information: Length of lease - 199 years from 1st January 2004 Service charge: Nil Ground rent - Nil. We have been informed the business who are the freeholder of the property was dissolved in October 2010. We believe the freehold is now owned by the Crown and a future owner may be able to apply for a share of the freehold ownership alongside the owners of the other flats. Buyers are advised to do their own research in this regard.

First Floor

Lounge, kitchen, two bedrooms and a shower room.

Additional Information

Council Tax

Leeds city council - C

Tenure

Leasehold

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. Searches £300 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.