Summary - 82, BURLEY ROAD LS3 1JP
1 bed 1 bath Retail Property (high street)
Fully let Victorian retail and duplex in student-led Hyde Park — 9.6% gross yield.
Freehold mixed-use investment with immediate income
A compact, fully let mixed-use freehold on Burley Road offering immediate income and a strong gross yield of 9.6% at £249,000. The property comprises a ground-floor retail unit with basement WC and a separately accessed two-bedroom duplex above — both let, producing an annualised income of £24,000.
Located in Hyde Park, the location benefits from very high student footfall and close walking distance to both Leeds universities and the city centre. The retail tenant signed a four-year lease from August 2023 at £12,000 pa (plus 5% management contribution); the duplex is let on an AST from November 2024 at £950 pcm. The retail RV is £3,450 and may qualify for 100% Small Business Rate Relief (subject to status).
Buyers should note material negatives plainly: the area records very high crime and is classed as very deprived, which affects covenant strength and asset management. The building is an older, solid-brick Victorian terrace (c.1900–1929) with assumed lack of cavity insulation and dated services; the EPC is D (85). The property and plot are small and have a shared rear yard, so immediate scope for expansion is limited.
This freehold is most appropriate for investors seeking near-term income from a student-dense parade, with potential upside from active asset management or modest refurbishment of the upper flat and retail fit-out. Prospective purchasers should verify tenancy details, service costs, and hold-over risks given the local market dynamics.
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