83 Cardigan Lane comprises a block of 18 studio and 4 one bed apartments plus car parking constructed in 2016. 21 of the apartments are let on Assured Shorthold Tenancies, with just one of the studios currently vacant.
Located to the west of Cardigan Lane, 83 Cardigan Lane is close to Burley Park and Burley Park Train Station. The surrounding area is predominantly residential with local amenities including The Co-op and Sainsbury's (both within 400 m).
Boston Exchange comprises 12 HMO licenced five and six bedroom houses all let on Assured Shorthold Tenancies, with car parking, private gardens and a woodland area to the south.
Located to the west of St Ann’s Lane and south of St Ann’s Close, Boston Exchange is close to both Burley Park and Headingley Train Stations. Again, the surrounding area is predominantly residential, with Headingley Stadium, Yorkshire County Cricket Club, Kirkstall Leisure Centre and Morrisons all within a short walk.
Both of the properties are a circa 20 minute walk from the retail and leisure centre of Headingley, The University of Leeds Campus and Leeds Beckett University’s Headingley Campus. Leeds City Centre is a short bus or train journey from both properties, where direct rail links are available to London (circa 2 hours), as well as Manchester, Newcastle, York, Edinburgh, Sheffield, Hull and
Spacious and stylish design throughout
All inclusive gas, water and electricity
Off street parking for two cars per property
Contemporary open plan living room and kitchen
Double bedrooms and private en-suites
22 Studio and One Bed Apartments for students and professionals
83 Cardigan Lane
Studios are open plan with kitchen, living, study and bedroom areas, with a private en-suite
Each apartment is fully furnished with all inclusive gas, water and electricity
Modern and spacious design
One Bed Apartments have a large open plan Living Room Kitchen area, with separate double bedroom and bathroom
Leeds is the third largest city in the UK, with a population of circa 751,000 recorded at the 2011 census. Other key statistics from the Census include:
17.5% of the population in Leeds are in the 20-29 age category, significantly higher than the England and Wales average of 13.6%.
The proportion of households renting from a private landlord or letting agency doubled to 16.7% from 8.4% in 2001.
13% of the population in Leeds are students, considerably higher than the England and Wales average of 13.6%.
Leeds is home to a number of higher and further education institutions including the University of Leeds, Leeds Beckett University, Leeds Trinity University and Leeds Arts University. A report commissioned by Leeds City Council shows that 63% of students in Leeds live in the Burley / Headingley / Hyde Park area. Leeds is the UK headquarter for companies including Asda Walmart, Arla Foods and GHD. Other major employers in the city centre include PwC, Lloyds Bank, RBS and KPMG. The Bank of England, headquartered in London, has its secondary office in Leeds.
Leeds' retail offering has improved considerably in recent years, with the opening of Land Securities’ Trinity Leeds in 2013 and Hammerson’s Victoria Gate shopping centre which opened in 2016.
Alongside major retailers including John Lewis and Harvey Nichols, these developments have attracted premium restaurants brands. Victoria Gate also includes a Casino offering three floors of entertainment including a cocktail bar and on-site V restaurant.
The 13,500 capacity First Direct Arena is one of the busiest multi-entertainment music venues in the UK, and was the UK’s first purpose built ‘super-theatre’ arena. Voted the best new venue in the world in 2014, the arena attracts over 1m visitors per annum.
Headingley has an abundance of amenities, including shops, cafes, restaurants, traditional pubs and contemporary styled bars. Headingley stadium hosts international cricket and is home Yorkshire County Cricket, Leeds Rhinos rugby league and Yorkshire Carnegie rugby union clubs.
At the time of marketing, 21 of the apartments and all of the houses are let on Assured Shorthold Tenancies, with only 1 studio apartment within 83 Cardigan Lane currently vacant. Current projected gross annual rental income for the 2017/2018 academic year is £596,039, comprising £418,742 for Boston Exchange and £177,297 for 83 Cardigan Lane, reflecting the current vacancy and some of the units being let for less than 52 weeks .
Projected 2018-19 Gross Annual Income
83 Cardigan Lane - £215,046
Boston Exchange Court - £423,972
Total - £639,019
Projected gross annual rental income for the 2018/2019 academic year based on the 52 week rents agreed for 7 of the apartments and 10 of the houses, plus estimated rents for the remaining units (assuming 52 week lettings) is summarised in the table to the right. A detailed breakdown of historic, current and projected rents for each of the houses and apartments is available (see below).
83 Cardigan Lane, Leeds, LS4 2LNGBLeedsWest YorkshireLS4 2LN83, Cardigan Lane
Boston Exchange and Cardigan Lane
83 Cardigan Lane, Leeds, LS4 2LN
Property type: Residential
Tenure: Investment Opportunity, For Sale Freehold
Size: 299 - 403 Sq Ft
Location: 83 Cardigan Lane, Leeds, LS4 2LN
12 FIVE AND SIX BEDROOM HOUSES AND UNBROKEN BLOCK OF 22 APARTMENTS
Rare opportunity to acquire two recently constructed and income producing freehold residential investments in north Leeds
12 houses comprising 4 five beds and 8 six beds
Unbroken block of 22 self contained apartments comprising 18 studios and 4 one beds
Constructed to a high standard and specifically designed for students and young professionals
33 lettings on Assured Shorthold Tenancies
1 studio apartment currently vacant
Current projected 2017/18 gross rental income £596,039
17 lettings agreed for 2018/19, including 9 rent increases
Estimated 2018/19 gross rental income (assuming fully let) £639,019
Attractive location for both students and young professionals in close proximity to Universities, Leeds City Centre and Headingley town centre, as well as Burley Park