Lot
008
Auction Ends: 09/11/2022 10:58

609 Gateway East, Marsh Lane, Leeds, West Yorkshire LS9 8AY

Property Details
Location
Auction Details
Description
An investment opportunity comprising a sixth floor, one bedroom apartment believed to be occupied and producing a rental income of £750pcm. The apartment block is purpose-built and a short distance from Leeds city centre.
Location
The apartment block is part of a development also containing a hotel and Nisa Local convenience store. Leeds city centre is approximately 0.5 miles to the west of the block, containing a wide range of amenities and national brands such as a John Lewis, Zara, McDonald's, Tesco Express, and H&M. The property has good transport links via the adjacent A61 and nearby A63 and A64. Leeds train station is approximately 0.7 miles from the property.
Accommodation

FloorDescriptionFloor Area
Sixth Floor Reception room; Bedroom; W/C47 Sq M (506 Sq Ft)
Pugh & Co have not been given access to inspect the property. The above information is taken from archived valuation reports and as such buyers should satisfy themselves as to the accommodation. 
Tenure
The property is sold leasehold, on a 150 term commencing March 2006. The current payable annual ground rent is believed to be £250.
Tenancy
Pugh & Co are informed by the vendor that the property is currently occupied at a rental figure of £750pcm, equivalent to £9,000pa. Pugh & Co have not been provided with a copy of the lease agreement and such buyers should not solely rely on this information.
Costs
Details of the Buyer's Premium and any additional fees payable are contained within the legal documents.
VAT
Buyers are directed to clause 25 of the Special Conditions which states that if the VAT position is unable to be confirmed prior to auction. As such the buyer is required to send the VAT sum to the vendor's solicitor until HMRC confirms the VAT position. The VAT sum will then be either reimbursed to the buyer or released to the seller, depending on the position.
General
1. All the information provided on our website is for indicative purposes only and interested parties should refer to the contents of the legal pack and rely upon their own due diligence as a prudent bidder.

2. PLEASE NOTE BIDDING COMMENCES ON TUESDAY 8TH NOVEMBER AND CLOSES ON WEDNESDAY 9TH NOVEMBER.

Energy Performance Certificate = B.

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