'Real potential': Former church in Leeds now home to 16 flats being auctioned off
A former Methodist Church in Leeds which has been turned into 16 one-bedroom flats is being auctioned at a guide price of £475,000.
The scheme on Trentham Street is to be auctioned on September 9.
James Pank, Director and Auctioneer of Auction House West Yorkshire, said: "Properties such as this really don’t come along very often. Obviously, the building is beautiful externally, but the real potential comes from the income that could be generated once the 16 flats have been tidied up and re-let.
"If you managed to achieve £650 per calendar month per flat, you’d be looking at an annual income of almost £125,000.
"The beauty of it being offered with vacant possession is that buyers can improve the property to a standard of their choosing and then hand-pick the tenants that they want to live there.
"This might be on a flat-by-flat basis or something more commercial/hands off where they look to let the property to a charity, housing association or care provider who then signs up to a five-year lease and covers all the repairs.”