Standout Features
- Starting Bid £50,000
- For sale via modern method of auction
- Terms and conditions apply
- Tenanted at £800 pcm
- First floor apartment
- Balcony
- Lease term 150 years from 2006
- EPC Rating B
- Council tax band B
- Cash buyers only
Property Description
Offered for sale by Modern Method of Auction with a starting bid of £50,000 (Terms & Conditions apply), this first-floor apartment presents an excellent opportunity for investors seeking a strong-performing city centre investment. Being sold as an investment property, it currently offers an impressive gross yield of 19%, making it an attractive addition to a rental portfolio.
Situated within Ahlux House on Millwright Street, the property enjoys a highly convenient central Leeds location, ideal for tenants wanting immediate access to the city's amenities. John Lewis, Victoria Gate, a wide selection of shops, restaurants, bars, and leisure facilities are all within easy walking distance, while nearby transport links provide excellent connectivity in and around the city.
LEASEHOLD INFORMATION Lease term: 125 years from 1st September 2006
Ground rent £230.86 pa
Service charge £1,581.64 pa
Please note the development requires remedial work for fire safety and no EWS1 certificate is currently available. The seller is a none qualifying leaseholder. The management company have not yet released a programme of works required or any costs. For this reason the property is offered for sale at a heavily discounted price and available to cash buyers only.
AHLUX HOUSE Communal entrance with mail boxes and lift to all floors.
ENTRANCE 5' 4" x 5' 1" (1.63m x 1.56m) Carpeted entrance hall.
LIVING AREA 14' 0" x 13' 2" (4.27m x 4.02m) Open plan living area with floor to ceiling window and patio door leading to the balcony.
The room is carpeted and has electric wall mounted heater.
KITCHEN (Open Plan) The kitchen has a range of fitted units, electric oven, electric hob, undercounter washing machine and freestanding fridge / freezer.
STUDY 10' 4" x 9' 6" (3.15m x 2.91m) Please note the study room has no natural light.
Carpeted with electric wall mounted heater.
BATHROOM 7' 4" x 5' 6" (2.26m x 1.70m) The bathroom comprises; bath with shower over, hand basin, w.c. and chrome towel rail.
Please note photographs were taken pre tenancy.
AUCTIONEERS ADDITIONAL COMMENTS AUCTIONEERS ADDITIONAL COMMENTS
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.
Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.
The advertised price is commonly referred to as a 'Starting Bid' or 'Guide Price' and is accompanied by a 'Reserve Price'. The 'Reserve Price' is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the 'Guide Price' / 'Starting Bid'.
These prices are subject to change.
An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee up to 6% inc VAT (subject to a minimum which could be up to £7,200 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
Situated within Ahlux House on Millwright Street, the property enjoys a highly convenient central Leeds location, ideal for tenants wanting immediate access to the city's amenities. John Lewis, Victoria Gate, a wide selection of shops, restaurants, bars, and leisure facilities are all within easy walking distance, while nearby transport links provide excellent connectivity in and around the city.
LEASEHOLD INFORMATION Lease term: 125 years from 1st September 2006
Ground rent £230.86 pa
Service charge £1,581.64 pa
Please note the development requires remedial work for fire safety and no EWS1 certificate is currently available. The seller is a none qualifying leaseholder. The management company have not yet released a programme of works required or any costs. For this reason the property is offered for sale at a heavily discounted price and available to cash buyers only.
AHLUX HOUSE Communal entrance with mail boxes and lift to all floors.
ENTRANCE 5' 4" x 5' 1" (1.63m x 1.56m) Carpeted entrance hall.
LIVING AREA 14' 0" x 13' 2" (4.27m x 4.02m) Open plan living area with floor to ceiling window and patio door leading to the balcony.
The room is carpeted and has electric wall mounted heater.
KITCHEN (Open Plan) The kitchen has a range of fitted units, electric oven, electric hob, undercounter washing machine and freestanding fridge / freezer.
STUDY 10' 4" x 9' 6" (3.15m x 2.91m) Please note the study room has no natural light.
Carpeted with electric wall mounted heater.
BATHROOM 7' 4" x 5' 6" (2.26m x 1.70m) The bathroom comprises; bath with shower over, hand basin, w.c. and chrome towel rail.
Please note photographs were taken pre tenancy.
AUCTIONEERS ADDITIONAL COMMENTS AUCTIONEERS ADDITIONAL COMMENTS
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.
Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.
The advertised price is commonly referred to as a 'Starting Bid' or 'Guide Price' and is accompanied by a 'Reserve Price'. The 'Reserve Price' is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the 'Guide Price' / 'Starting Bid'.
These prices are subject to change.
An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee up to 6% inc VAT (subject to a minimum which could be up to £7,200 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
Additional Information
Tenure:
Leasehold
Ground Rent:
£231 per year
Service Charge:
£1,581 per year
Council Tax Band:
B
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Ahlux House, Millwright Street
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