Offers Around £1,500,000

Gillygate, Pontefract

  • Mixed use investment property
  • Freehold sale
  • Fully tenanted achieving £125K per annum
  • Recently converted and upgraded throughout
  • Includes 5 ground floor retail units
  • 19 first and second floor apartments
  • Parking spaces to rear of building

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Property Floorplan

Property Location

Typical monthly mortgage repayment with Mortgage Advice Bureau: £5850

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Property Details

PROPERTY DETAILS
Offered for sale is this substantial freehold investment property which is fully tenanted achieving approximately £125,000 per annum. The property has recently been refurbished and converted (completed 2017) including the addition of a complete pitched roof to provide second floor accommodation. The property includes 5 ground floor retail units and 19 one bed apartments on the first and second floors. In addition there are a number of parking spaces to the rear of the property, accessible from Baxtergate. Each of the apartments include an open plan kitchen / living room with contemporary kitchen units and breakfast bar, double bedroom and tiled shower room. The location within Pontefract town centre and close proximity to Pontefract General Infirmary ensures strong demand for tenants in this area. For further details contact our sales team on 01924 200101.

LOCATION
The property is located on Gillygate off the main arterial road of Southgate within Pontefract, a popular market town within West Yorkshire. The location allows easy access to the M62 and A1M motorway networks and the close proximity to Pontefract General Infirmary ensures that there is strong demand for one bed apartments from hospital staff.

TENURE
Freehold with the benefit of existing tenants. We are advised that the apartments are let on Assured Shorthold Tenancy Agreements and retail units on Lease / Licence agreements achieving approximately £125,000 per annum. Please note that we have not yet had sight of existing agreements or accounts for the property to verify the accuracy of the above.

VAT
We are awaiting confirmation from the vendor regarding VAT payable on the sale price.

VIEWINGS
For further information and to arrange a viewing contact FSL Estate Agents on 01924 200101.

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