Castleford Altofts Lane, Castleford, West Yorkshire, WF10 5PZ

Description

Comprises 10 office suites, a shared meeting room, kitchen and lounge, alongside 21 studio aparthotel rooms. Benefits from a separate secure 0.36-acre car park held on a long leasehold title. Arranged over 940 sqm (10,118 sqft) over ground and first floors. VAT is not applicable. Six-week completion available.

Accommodation

10 office suites, shared meeting room, kitchen and lounge, and 21 studio aparthotel rooms. Total area: 940 sqm (10,118 sqft) over ground and first floors.

Location

Castleford is a market town with a population of some 39,000, located approximately 10 miles south-east of Leeds and 20 miles south-west of York. The property is approximately 2.4 miles from the town centre, on the north side of Altofts Lane. Junction 31 of the M62 is 0.8 miles away, linking to the M1 and A1. Nearby occupiers include CMS Distributions, Haribo, Warburtons, Royal Mail and a number of local traders.

Tenure / Property Information

Investment Analysis

The £1.3m–£1.4m guide is the only direct pricing evidence. The £1,025,666 2024 sale at the same postcode is described only as an 'Other' leasehold property, with no size, income or specification, so it cannot support a reliable valuation adjustment. The two Bridge Inn sales are older and materially less comparable. A formal GDV or market-value estimate cannot be established from the supplied evidence.

Investment Snapshot

Strategy Recommendation

Treat as a specialist income-producing mixed-use acquisition only if the full lease, passing rent, tenant covenant, operating accounts, title structure and car-park obligations support the guide price. Do not proceed on the single-suite asking rent alone.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection, statutory compliance checks, review of the 10 office suites and 21 studio aparthotel rooms, and any repairs identified before committing to works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis is not supportable because the passing rent, operating income, refurbishment cost, finance assumptions and reliable GDV are unavailable. The 75% refinance figure and cash-left-in calculation cannot be calculated. The separate car-park lease has approximately 63 years unexpired and carries £1,700 annual ground rent, which requires specific review.

Buy-to-Let Analysis

The property is let to Packington Investments (London) Limited on a new five-year lease without breaks, but no passing rent, rent schedule or tenant covenant information is supplied. The £450 pcm advertised listing relates only to Suite 4 and cannot be extrapolated to the whole mixed-use property. BTL yield and sustainable income cannot therefore be established.

Flip Analysis

A flip surplus cannot be calculated. No reliable GDV, refurbishment budget, selling-cost allowance or evidence of vacant possession is supplied, and the property is currently let on a five-year lease without breaks.

Investor Risks & Due Diligence

• No passing rent or property-level operating income is supplied, so investment yield cannot be verified.

• The only rental evidence is a £450 pcm advertised asking rent for one suite and is not evidence of whole-property income.

• The tenant covenant and detailed terms of the five-year lease to Packington Investments (London) Limited have not been provided.

• The car park is held on a separate lease with approximately 63 years unexpired and £1,700 annual ground rent.

• The property includes separate and unmerged leasehold titles requiring legal and valuation review.

• Buyer premium is £4,200 including VAT, with additional seller or third-party charges possible under the special conditions.

• No condition, EPC, heating, council-tax or statutory-compliance evidence is supplied.

Recommendation

Treat as a specialist income-producing mixed-use acquisition only if the full lease, passing rent, tenant covenant, operating accounts, title structure and car-park obligations support the guide price. Do not proceed on the single-suite asking rent alone.

Strategy Rating

Analysis Confidence

The property description, lease structure, guide range and some comparable sales are supplied, but passing rent, operating performance, EPC, condition, full title details and a reliable investment valuation are absent.