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Studio for sale

£79,950

The Pavilion, St. Michaels Lane, Leeds LS6

1 1
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Property features

  • Great investment opportunity
  • Guaranteed net annual income of £6,000 for 3 years from 2015
  • Brand new development
  • Prime student location
  • On-site gym
  • Rooftop terrace

Property description

Summary Let Leeds is pleased to offer for sale this self-contained studio apartment in a newly built development in a prime location close to Headingley Stadium.

The studio is well located for both the student and professional lettings markets and currently return a very healthy 7.5% gross annual yield.

Location Situated opposite Headingley stadium on St Michaels Lane, within a short walk to transport links and the vast wealth of local shops, bars and restaurants Headingley has to offer.

The location is fantastic for both students studying at the universities and young professionals commuting to the City Centre.

The development The Pavilion is a purpose built development comprising of 44 luxury studio apartments. The development was completed in Nov 2015 and is now fully let to a mixture of student and professional tenants.

The Pavilion development has some excellent features which really distinguish this building, such as a fantastic communal roof terrace overlooking the cricket ground, a common room with large sofas and huge LED TV, communal gardens, a free to use on-site gym and a handy laundry room.

Tenants feel extremely secure within the building as there are on site staff and secure key fob access systems. The property also benefits from disabled access, disabled toilets and lift.

Each apartment is extremely spacious and is provided furnished. The apartments each have their own kitchenette and en-suite shower room.

Studio: Larger than average studio, located on the ground floor. This studio comprises of an excellent sized sleeping / living / cooking area as well as study area. With white fitted base and wall units the kitchenette includes an integrated fridge and 2 ring ceramic hob. A modern en-suite bathroom, partially tiled and neutrally decorated with large inset shower, basin and WC.

Investor information Leasehold - 125 years from November 2015

Ground Rent: £350.00 pa per unit

Gross Annual Income: £6,000 for 3 years starting November 2015.

The studio is fully let and managed by a quality management operator. The properties are currently tenanted therefore viewing is strictly by appointment only. Please me mindful that we will need to give the Tenants 48 hours notice of a viewing.

*Please note photos used in this advert are of other units within the development but are of a similar standard and layout*

Property info

Floorplan(s): Floorplan 1

View original

Market activity
Average price paid £197,177 Sales 416 Current average value £234,881 (Zoopla Zed-Index) Value change £1,401 ▲ 0.60%

Property value data/graphs for LS6

Property type Avg. current value Avg. £ per sq ft. Avg. # beds Avg. £ paid (last 12m)
Detached £349,831 £260 3.8 £323,076
Semi-detached £249,832 £236 3.4 £233,368
Terraced £218,873 £202 3.8 £210,085
Flats £167,733 £234 2.0 £112,075

Current asking prices in LS6

Average: £216,916
Avg. current asking prices in LS6
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses £149,950
(1)
£133,493
(7)
£222,031
(16)
£279,208
(19)
£210,000
(1)
Flats £57,882
(9)
£174,975
(4)
- £325,000
(1)
-
All £67,089
(10)
£148,577
(11)
£222,031
(16)
£281,498
(20)
£210,000
(1)

Current asking rents in LS6

Average: £1,576 pcm
Avg. current asking prices in LS6
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses £605 pcm
(108)
£653 pcm
(198)
£975 pcm
(396)
£1,356 pcm
(711)
£1,690 pcm
(465)
Flats £538 pcm
(272)
£761 pcm
(137)
£1,030 pcm
(97)
£1,607 pcm
(68)
£1,952 pcm
(13)
All £557 pcm
(380)
£697 pcm
(335)
£986 pcm
(493)
£1,378 pcm
(779)
£1,697 pcm
(478)

Fun facts for LS6

Highest value in LS6
Highest value streets Zed-Index
Belford Court £507,512
Stretton Avenue £505,965
Woodbine Terrace £504,452
Claremont Drive £500,356
Claremont Road £451,641
Highest turnover in LS6
Highest turnover streets Turnover
Caraway Court 72.7%
Cherry Grove 63.6%
Alma Cottages 60.0%
Rawling Way 53.3%
Ashfield Park 47.8%

What Zoopla users think of Headingley

Overall rating:

  • currently 4.5 stars
Very good - 86% (51 ratings)

Ratings breakdown:

  • currently stars
Community & safety
  • currently stars
Entertainment & nightlife
  • currently stars
Parks & recreation
  • currently stars
Restaurants & shopping
  • currently stars
Schools & public services
  • currently stars
Transport & travel

Rate Headingley:

Tell us what you think of this area by rating these categories.
Please note your vote will only be counted once.

Community & safety
  • currently stars
  • 1
  • 2
  • 3
  • 4
  • 5
Entertainment & nightlife
  • currently stars
  • 1
  • 2
  • 3
  • 4
  • 5
Parks & recreation
  • currently stars
  • 1
  • 2
  • 3
  • 4
  • 5
Restaurants & shopping
  • currently stars
  • 1
  • 2
  • 3
  • 4
  • 5
Schools & public services
  • currently stars
  • 1
  • 2
  • 3
  • 4
  • 5
Transport & travel
  • currently stars
  • 1
  • 2
  • 3
  • 4
  • 5

Nearby transport

  • Burley Park (0.3 miles)
  • Headingley (0.6 miles)
  • Kirkstall Forge (1.7 miles)
  • Leeds Bradford International Airport (4.7 miles)
  • Robin Hood Airport (33.4 miles)
  • Manchester International Airport (42.9 miles)
  • Hull Ferry Terminal (53.6 miles)
  • Transporter Bridge South Side (54.9 miles)
  • Transporter Bridge North Side (55.0 miles)

Nearby schools

View all schools in Leeds
  • Spring Bank Primary School (0.2 miles)
  • Brudenell Primary School (0.4 miles)
  • Shire Oak VC Primary School (0.4 miles)
  • Notre Dame Catholic Sixth Form College (1.2 miles)
  • Leeds City College (1.4 miles)
  • Swarthmore Education Centre (1.4 miles)
  • Springwell Academy Leeds (0.6 miles)
  • Leeds City Academy (0.9 miles)
  • Lawnswood School (1.5 miles)
Note: Distances are straight line measurements

Local info for Leeds

About the neighbours in LS6

AskMe Q&A for Leeds

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For more information about this property, please contact
Let-Leeds.com, LS3 on +44 113 482 9854 * (local rate)

Monthly running costs Beta

£473 Monthly total

Mortgage

Purchase price
Deposit (10%) 7,995
Repayment term 25
Interest rate 1.5
Your payment £287 /mo How Much Could I Borrow

These results are not provided by NatWest and are only indicative based on a repayment mortgage product. Repayments will be subject to the product provided and your circumstances.

Your home or property may be repossessed if you do not keep up repayments on your mortgage.

Home Insurance

Rebuild value up to £1,000,000 Contents value up to £75,000 Average insurance cost £20/mo (£239/yr)
Compare insurance deals now In partnership with uSwitch
Home insurance costs explained

Home Insurance is based on the average price of a building and contents quote for a property in this area in the last 48 months.

Source: Autonet Insurance Ltd

Energy

Gas £19 Electricity £26 Estimated energy cost £45/mo

Similar properties could save up to £158

How Much Could I Save? In partnership with uSwitch
Energy costs explained

The estimated energy cost for this property has been calculated using actual energy usage data for a property of this type, number of bedrooms and region.

Estimated consumption

Gas: 6500 kWh/year
Electricity: 1800 kWh/year

Source: National Energy Efficiency Data Framework

Council Tax

Local authority

Leeds

Estimated tax band A Council tax cost £100 /mo
when paid over 10 months
Council tax costs explained

The Council Tax cost displayed is based on the council tax band and on the basis of 2 adults living at the property. The monthly cost shown excludes any discounts and is rounded to the nearest pound.

Full information on Council Tax discount entitlements can be found on the Gov.UK’s website.

Water

Supply £9 Sewerage £12 Estimated water cost £21 /mo
Water costs explained

Water consumption is based on average water usage for the predicted occupancy of the property based on the number of bedrooms.

Total annual consumption (in cubic meters) is then averaged into a monthly cost.

Note: If you have 2 separate suppliers for water and sewage, you may receive 2 separate bills.

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Let-Leeds.com, and do not constitute property particulars. Please contact Let-Leeds.com for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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