16 Town Street Farsley, Leeds

Asking price of £275,000
For Sale
Investment

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LOCATION

The property is located fronting Town Street in the centre of Farsley Village and is set within an established parade of similar properties.


DESCRIPTION

The property comprises a mid-terraced 3-storey building with retail space at ground floor level. The retail space is self-contained and comprises an open plan sales area with separate staff/WC facilities.

The upper floors comprise 2 one-bedroom apartments that are separately let.


TENANCIES

The ground floor has recently been let on a commercial lease to a tattoo studio for a lease term of 6 years at a rental of £9,500 per annum.


The first-floor flat (4 Gambles Hill) is currently let at £5,700 per annum on an Assured Shorthold Tenancy.


The second-floor flat (5 Gambles Hill) is currently let at £6,000 per annum on an Assured Shorthold Tenancy.


Total income £21,200 per annum.


TERMS

The property is offered for sale on a freehold basis subject to existing tenancies at a guide price of £275,000. It is understood that VAT is not applicable.


BUSINESS RATES/COUNCIL TAX

According to the Valuation Office Agency website, the ground floor commercial premises has a current 2017 rateable value of £9,100. Both 4 and 5 Gambles Hill fall under Council Tax A. Interested parties are advised to direct further enquiries to the local authority.


EPC

Ground Floor Shop has an EPC of C – 60.


4 Gambles Hill has an EPC of E – 53.


5 Gambles Hill has an EPC of D – 68.


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