8 Royal Park Road, Hyde Park

£435,000

For Sale

1 of 8

Mixed Use investment
Well maintained residential flat
Ground Floor and Basement Commercial Element
End Terrace property

Enquire Now

Adair Paxton are pleased to be marketing 8 Royal Park Road which comprises a small retail/office space and a large 5-Bed flat that currently generates £28,678.57 per annum. Both elements of the property are presented extremely well and appear modern throughout.

Location
The property is located on Royal Park Road, just off Hyde Park Road which provides easy access to Woodhouse Lane taking you to Leeds City Centre and Otley Road which takes you to Headingley and other suburban areas of Leeds.

Description
The property comprises an end of terrace, brick built 3 storey building set within the densely populated and highly sought after Hyde Park area. The ground floor provides in part a commercial unit, previously used as an estate agency but with potential for a broad range of alternative retail/ office uses. The residential element comprises a 5-bed shared let, previously let to university students.

Accommodation
The commercial space comprises sales area with spiral stairs leading to lower ground floor office/ meeting room with kitchenette and WC. It has an approximate net internal area totalling 323 sq ft (30 sq m) over those two floors. The residential element of the property comprises at ground floor, entrance lobby and kitchen/ lounge area with stairs leading up to first floor where there are 2 double bedrooms and bathroom. 2 further bedrooms are located on the 2nd floor, and at lower ground there is a further double bedroom and shower room with WC, totalling 5 lettable bedrooms

Tenancies
The 5-bed shared let, residential element of the property has been let at a rent of £28,678.57pa on a 12 month Assured Shorthold Tenancy, expiring 30th June 2024.

TERMS
The property is offered on a freehold basis with vacant possession at a fixed price of £435,000. It is understood that VAT is not applicable on this property.

Business Rates/Council Tax
According to the Valuation Office Agency website, the Commercial element has a current 2023 rateable value of £3,000. The residential flat falls under Council Tax Band C. Interested parties are advised to direct further enquiries to the local authority.

Energy Performance Certificate (EPC)
The property currently benefits from an EPC rating of D - 80 for the Commercial and D - 59 for the Residential.

Viewing/Further Information
For further information or to arrange a viewing, please contact Alfie Stevens-Neale on 01132395778 ([email protected]) or Simon Dalingwater on 0113239 5777 ([email protected]).