470-476 Roundhay Road, Oakwood, Leeds, West Yorkshire

Description

Comprises two retail units, one quadruple fronted, together with eight flats and six garages. Total accommodation approximately 1,059.18 sqm (11,401 sq ft). Residential comprises six two-bedroom flats and two one-bedroom flats. Located in an affluent suburb of Leeds, with an established parade situated directly opposite Roundhay Park. VAT is applicable.

Accommodation

Two retail units, eight flats and six garages; six two-bedroom flats and two one-bedroom flats; total accommodation approximately 1,059.18 sqm (11,401 sq ft)

Location

Oakwood, Leeds, approximately 3 miles north of Leeds City Centre and approximately 2.25 miles north east of the City Centre. Situated on the east side of Roundhay Road opposite Gledhow Lane and opposite Roundhay Park. Nearby occupiers include independent shops, restaurants, bars and cafes; Home Bargains, Tesco, Sports Direct and Wickes are a short distance away.

Tenure / Property Information

Investment Analysis

The £1.5m+ guide is the only current pricing evidence and is not a formal valuation or GDV. The supplied sold comparables are few, historic and appear to relate to individual or differently classified properties, so they do not support a reliable valuation of this entire mixed-use parade. No passing rents, leases for the retail units or flats, occupancy details, operating costs, condition report, EPCs, buyer fees or full special conditions are supplied. VAT is applicable and may materially increase the acquisition cost. A whole-property income valuation cannot be established from the single £300 pcm advertised office rent.

Investment Snapshot

Strategy Recommendation

Do not commit at the guide on the current evidence. Proceed only after reviewing the legal pack, VAT treatment, leases, occupational income, condition, compliance and a professional valuation; otherwise treat as a high-uncertainty mixed-use investment.

Works Required

No condition evidence supports a refurbishment specification or cost allowance. Before bidding, verify the condition of the retail units, eight flats and six garages, obtain EPC and compliance information, inspect services and common parts, and review all occupational and title documentation.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable without a defensible current value, refurbishment budget, rental schedule and refinance valuation. The 99-year garage lease commenced on 1 May 1983 and carries £10 annual ground rent, requiring title and lease review. VAT and unspecified additional charges must also be investigated before assessing cash requirements.

Buy-to-Let Analysis

BTL performance cannot be assessed because no passing rents or advertised rents for the eight flats, retail units or garages are supplied. The £300 pcm figure relates only to one advertised office and is not a supported rent for the whole property. Vacancy, lease terms, operating costs, VAT and acquisition costs are also unknown.

Flip Analysis

A flip surplus cannot be calculated. No evidence supports a GDV, refurbishment allowance, selling costs or transactional costs, and the historic comparables are not sufficiently comparable to the complete mixed-use property. The £1.5m+ guide should not be treated as market value or resale value.

Investor Risks & Due Diligence

• VAT is applicable, but the amount and recoverability are not supplied.

• The guide is £1.5m+ and the eventual purchase price is uncertain.

• No passing rent or occupancy information is provided for the eight flats, two retail units or six garages.

• The only rental evidence is a £300 pcm advertised asking rent for one office and cannot support whole-property yield analysis.

• No refurbishment or condition evidence is supplied.

• Buyer premium, administration charges and other seller or third-party fees are unspecified.

• The rear garages are held on a lease for 99 years from 1 May 1983 at £10 per annum; the remaining term, rights and obligations require legal review.

• EPC, council tax, heating and compliance information are not supplied.

• The sold comparables are limited, historic and not demonstrably comparable with the complete mixed-use parade.

Recommendation

Do not commit at the guide on the current evidence. Proceed only after reviewing the legal pack, VAT treatment, leases, occupational income, condition, compliance and a professional valuation; otherwise treat as a high-uncertainty mixed-use investment.

Strategy Rating

Analysis Confidence

The property description and tenure are detailed, but current income, occupancy, condition, costs, comparable evidence, valuation evidence and auction charges are materially incomplete.