Every so often we use our expertise to search the local Leeds property market for good potential buy to let property investments, not only for new landlords looking to invest in the Leeds residential property market, but also portfolio landlords looking to bulk up their current property portfolio.
Langdale Terrace, Headingley, Leeds – £325,000
Langdale Terrace is in a really great location in the centre of Headingley, a short walk from Becketts Park University, whilst also being on great transport links to the City Centre via bus or train.
This large through terrace 6 bed house for sale is currently being marketed by Castlehill Estate Agents in Headingley.
Currently tenanted, this house is currently achieving a rent of £85.00pppw which, believe it or not, also includes utility bills.
The house itself is in a decent condition, but due to Headingley being a competitive market, I would definitely recommend some investment into the interior of the property, by way of new decoration and carpets. A WOW factor here or there would not go amiss.
According To The Agent’s Property Details
- Substantial six bedroomed terrace
- Fringe of Headingley centre
- Close to cricket ground & extensive amenities
- Let until 8th July 2022
- Gross rent £26,400 p/a inc bills
- Great further potential
- EPC Rating – D
You can find the actual particulars here.
What Makes This Property A Good Buy To Let Investment?
I imagine that most of you reading this will already have picked up on the rent. It is currently achieving £85.00pppw which actually includes the utility bills too.
In my opinion, this is underlet, especially with the ever increasing price of energy.
I believe that without the utility bills included, this property should be achieving at least £85.00pppw which would give an annual rent of £26,592.86, and therefore a gross yield of over 8%, which in the current market is a good yield.
Another great benefit to this buy to let property is its EPC rating of D. Whilst this may not be much of a benefit now, come 2025 there are new regulations coming into force where having a rating of D would mean less cost to meet these new regulatory demands (What new regulations?).
According to the Energy Performance Certificate, by carrying out the EPC Inspector’s recommendations, the EPC rating can be brought up to a B.
The agents states, ‘It is our opinion the layout could be relatively easily changed to create six more evenly sized bedrooms by making better use of the basement rooms and turning the two first floor bedrooms back into one room, subject to any relevant consents.’
This sort of re-investment can only go towards ensuring a higher rent is achieved on the property.
Also, as the property is currently let on individual tenancy agreements until 8th July 2022, some on fixed term contracts, some on rolling contracts, it would be a wise decision to introduce some stability into the renting of this property by ensuring any future tenancies are worked on a joint basis, to a group of 6 tenants that already know each other, rather than individual lets.
What Now?
If you are interested in viewing this property as a serious investment, then give the team at Castlehill a call, or you can book in viewing direct with them by clicking ‘Request A Viewing’ on the details on their website.
It may even be worth checking out current rates for buy to let mortgages.
Or, if you would like to discuss this property from the point of view of renting it out to tenants, and would like one of our team to get in contact, then simple press the red button below and we’ll give you a call back.
