A large Edwardian detached house on Outwood Lane in Horsforth, which has been converted into 12 studio flats, is to be auctioned this month with a guide price of £595,000.
Built in the early 1900s, the grand, stone-built property, which includes a large front garden and rear parking area, will feature in the next live stream auction held by BTG Eddisons Property Auctions on 29 July.
All 12 studio flats are currently let, generating £57,000 per year. According to auctioneers, the potential rental income is likely to reach £90,000-£100,000 once all the units have been modernised.
Chris Jackson, associate director at BTG Eddisons Property Auctions, said: “Opportunities to acquire a fully-tenanted residential property of this scale in Horsforth don’t come along very often.
“The area’s loved for its community feel, local shops and bars, and its transport links, making it one of the most popular places to live in Leeds. In an area where demand for rental accommodation always outstrips supply this is a fantastic long-term investment.
“Depending on planning, a buyer could easily refresh the apartments, completely redevelop the site, or even convert the building back into a stunning family home. For this reason, we expect a lot of interest on auction day.”
For more details and bidding information, visit www.btgeddisonspropertyauctions.com.
BTG Eddisons Property Auctions is a national auction business formed by uniting the regional brands Pugh, SDL Property Auctions, Mark Jenkinson and Network Auctions. It now hosts a four-day national auction event every month.
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