sw.co.uk
Residential Investment/Development Opportunity 2 Walmgate, York, YO1 9JT sw.co.uk
Investment Summary
Excellent location in the Heart of York City Centre
Substantial Grade II Listed building with attached former School House and Cottage
6 one bedroom and 4 two bedroom self contained residential units
Significant opportunity for refurbishment and/or redevelopment to enhance the income
Rear garden area offering further potential development possibilities (subject to planning)
Current income of £37,476 pa with the potential to rise to £68,460 pa when fully let
Offers invited in the region of £1,275,000 for the freehold interest
Leeds Agency I Number 2 Walmgate I York I YO1 9JT
sw.co.uk
Location Description
York has a population of some 206,900 people The property is a freehold detached Grade II and is one the main tourist destinations in the Listed block, formerly a hospital, then country. almshouse and school room with parts dating from 1765. The city benefits from an excellent communications network with the A1M The principal block contains 8 flats with a approximately 10 miles to the west. There are former school house and a cottage to the rear. regular direct train services to London in under 2 hours and Newcastle in around 1 hour. There is a rear walled garden accessed via a passageway at the side of the building from There are two universities and exceptional Walmgate. We consider that this area may be shopping and tourist facilities. suitable for further development (subject to planning).
Situation Rear View The property is located right in the heart of the city overlooking the River Foss at the junction of Walmgate and Fossgate.
There are numerous restaurants in the vicinity including Loch Fyne immediately opposite, the Blue Bicycle adjacent.
The Coppergate Shopping centre is a few hundred yards away as are the main retail areas such as Parliament Street, Coney Street, The Shambles etc.
Leeds Agency I Number 2 Walmgate I York I YO1 9JT sw.co.uk
Unit Size (1) Beds Monthly Annual Rent (2) Potential Potential Annual EPC Rent Monthly Rents Rents Rating Tenancies Flat 1 48.95 sq m 2 £288 (3) £3,456 £575 £6,900 D 68 The adjoining table sets out the current position along (527 sq ft) with our view of the potential rents that could be Flat 2 42.64 sq m 1 vacant £550 £6,600 D 67 achieved upon re-letting the currently vacant accommodation. (459 sq ft)
Flat 3 57.41 sq m 2 vacant £625 £7,500 D 60 As at the date of these details 6 of the residential units (618 sq ft) are let with the remaining 4 currently being marketed by Flat 4 33.63 sq m 1 £485 £5,820 £485 £5,820 D 68 the managing agents.
(362 sq ft) All tenancy agreements are on standard AST terms and Flat 5 31.12 sq m 1 £575 £6,900 £575 £6,900 D 64 further information regarding these is available upon (335 sq ft) request. Flat 6 55.27 sq m 2 £625 £7,500 £625 £7,500 E 42 (595 sq ft) Flat 7 32.70 sq m 1 £525 £6,300 £525 £6,300 E 52 (352 sq ft) Flat 8 44.68 sq m 1 vacant £525 £6,300 D 60 (481 sq ft) The 79.80 sq m 1 £625 £7,500 £625 £7,500 E 48 Schoolhouse (859 sq ft) The Cottage 117.15 sq m 2 vacant £595 £7,140 E 48 (1,261 sq ft) Totals £3,123 £37,476 £68,460
Note 1: please note that the areas have been provided to us and interested parties are advised to verify these with an onsite inspection Note 2: The potential rents have been based upon either passing rents or the most recent rents achieved for the currently vacant units Note 3: Concessionary rent agreed. Previous rent was £575 pcm.
Leeds Agency I Number 2 Walmgate I York I YO1 9JT sw.co.uk
Ground Floor First Floor
Whilst every attempt has been made to ensure the accuracy of the floor plans contained here, doors, windows, rooms and other items are approximate and no responsibility is taken for any error, omission, or mis-statement. This plan is for illustrative purposes only and should be used as such by any prospective purchaser. The services, systems and appliances shown have not been tested and no guarantee as to their operability or efficiency can be given. Second Floor Made with Metropix @2016
Leeds Agency I Number 2 Walmgate I York I YO1 9JT sw.co.uk
Contact Information
For further information please contact the following:
Sanderson Weatherall Contact: Peter Heron Email: [email protected] Phone: 0113 221 6140 or Ashtons Contact: Peter Docwra Email: [email protected] Phone: 01904 659222
EPC Misrepresentation Act 1967: Messrs Sanderson Weatherall LLP for itself and for the vendor(s) or lessor(s) of this property whose agents they are, give notice that: 1) These particulars do not constitute any part of an offer or contract; 2) None of the statements contained in these particulars as to the properties are to be relied on as statements of The Energy Performance Asset Ratings are listed on the representations of fact; 3) Any intending purchasers must satisfy themselves by inspection or Tenancy Schedule and full copies of the certificates are otherwise as to the correctness of each of the statements contained in these particulars; 4) available upon request. The vendor(s) or lessor(s) do not make or give and neither Messrs Sanderson Weatherall LLP nor any person in their employment has any authority to make or give any representation or warranty whatsoever in relation to this property; 5) None of the building’s services or service installations (whether these be the specific responsibility of the freeholder, lessor or lessee) have been tested and are not warranted to be in working order. Proposal Finance Act 1989: Unless otherwise stated all prices and rents are quoted exclusive of VAT. Consumer Protection from Unfair Trading Regulations 2008 and Business Protection from Misleading Marketing Regulations 2008; Every reasonable effort has been made by Offers are invited for the freehold of the property subject to the Sanderson Weatherall to ensure accuracy and to check the facts contained in these particulars are complete. Interested parties are strongly advised to take appropriate steps to existing tenancies in the region of £1,275,000. verify by independent inspection or enquiry all information for themselves and to take appropriate professional advice.
Sanderson Weatherall LLP Registered in England company number OC 344 770 Registered Office 25 Wellington Street Leeds LS1 4WG 4th May 2017
Leeds Agency I Number 2 Walmgate I York I YO1 9JT