Hello

[foster]

Hello, small time property landlord here in Leeds earning enough to pay the bills.  Looking for ways and advice to move forward with a rather large and unique freehold property in Chapel Allerton, Leeds.

Looking forward to gaining knowledge, tips from you experts.

[Mark Rocks]

Hi @foster - and welcome to the forum!

What makes the property in Chapel Allerton so unique, if you don't mind me asking?

[foster]

Hello Mark,

Being a stones throw from Leeds City center, the property is sat between industrial units and large student accommodation flats.

At the front of the property you face a large popular green / woodland space.  The two houses are on one deed, with the other deed covering a car park for over 20 cars.  
It was once a small holding type property with multiple brick sheds/storage units.  It feels like it’s the middle of the Yorkshire Dales when you’re sat in the garden.
 

Unique as you just don’t see these properties come up for sale so close to big city centres.

Its just time sensitive for me and looks like I’ll be taking a BIG hit unfortunately.

 

[Mark Rocks]

It looks amazing, you're right

In terms of advice on moving forward, what strategies have you considered already for this property?

[foster]

I have considered demolishing the very far house and using the stone to create another floor on the bungalow, then maybe use it as a 7 bed HMO.

I have considered splitting up the property and selling smaller plots to make it more affordable to the masses.

I have considered letting it out as a whole.

I have considered taking a substantial deposit (£30k) and leaving it with a small local inexperienced new to the game developer. With the balance to follow in 2 yrs.

ive considered “we buy any property” type of company.

I’ve considered living here, raising chooks and growing my own, “the good life” if you will.

Whilst I’ve not ruled anything out, I think I’ll be bringing in a property finder next to see if they can shift it within the next 3 months.

I would even happily sit on it for capital gains / inflation protection if I didn’t need to raise cash fast. 😐

 

 

 

[DezzaT]

Looks like you have a great property there foster! Lots of options and depends on what your plans and goals are. 

I'm not familiar with the area, so cannot provide any specific insight, but if you want a bit of both based on the considerations you've listed above, could you perhaps live in one building, and rent out the other as a service accommodation/short term let?  You can then get the good life whilst generating an income from it.