George House

PROPERTY OVERVIEW

Address: 16 George House, George Street, Wakefield, WF1 1NH

Property Type: 1-Bedroom Apartment

Asking Price: £110,000

Lease: 999 Years (as of 2023) – effectively freehold security

Tenure: Tenant in Situ (no void period, immediate income from day one)

FINANCIAL SUMMARY

• Monthly Rental Income: £750.00
• Annual Rental Income: £9,000.00
• Annual Service Charge:  £850.00
• Annual Ground Rent: £110.00
• Total Annual Deductions: £960.00
• Annual Net Income: £8,040.00

GROSS YIELD:   8.18%

NET YIELD:     7.31%

With a tenant already in place and not in arrears, this investment delivers immediate returns with zero void risk at point of purchase. At £110,000, the price-to-income ratio is highly attractive compared to equivalent assets in Leeds or Manchester.

WHY WAKEFIELD?

Wakefield is one of Yorkshire’s most compelling locations for residential investment:

• Excellent Transport Links – Direct rail connections to Leeds (12 mins), Manchester, and London Kings Cross via LNER, making it a prime commuter destination
• Strong Rental Demand – A growing professional and working population drives consistent tenant demand across the city centre
• Affordable Entry Point – Significantly lower purchase prices than Leeds or Sheffield, yet strong rental values deliver superior yields
• Regeneration & Growth – Wakefield city centre has benefited from significant investment and regeneration, increasing both capital values and rental appeal
• Low Cost of Living – Attracts tenants priced out of larger cities, ensuring a stable, long-term rental pool
• The Hepworth Gallery & Cultural Quarter – Wakefield’s cultural renaissance has raised its profile and desirability as a place to live

WHY THIS INVESTMENT STANDS OUT

• Tenant in situ – income from completion, no void period
• 8.18% gross yield – significantly above the UK residential average of ~5%
• 999-year lease (2023) as close to freehold as leasehold gets, no short-lease risk
• Low annual charges – combined deductions of just £960 p.a. protecting net returns
• Tenant not in arrears – clean, low-risk investment from day one
• Ideal for portfolio investors and first-time landlords alike