Leeds
O.I.R.O. £1.44M
Gross Yield: 15% Short Let (Serviced) / 7.46% Long Let (AST)
In Construction
Est. Q2 2025
Freehold (Unbroken Block)
Share to:
A rare opportunity to acquire a freehold, unbroken block of 8 brand-new apartments, a commercial unit and 4 parking slots, just 8 weeks from completion. Positioned on the edge of Morley’s bustling high street in a characterful former HSBC building, this boutique development offers a secure, high-yielding investment with multiple income strategies.
Whether you’re seeking long-term lets, short-term serviced accommodation, or planning to break up and resell as leasehold flats, this building gives you total control and flexibility – something virtually unheard of in the Leeds property market.
With no ground rents or leasehold complications, this full-building freehold offers unrivalled operational freedom – a major advantage for serviced accommodation investors. The smartly configured mix of one- and two-bedroom apartments, complemented by on-site parking and a commercial/storage unit, is perfectly suited for short-term lets, contractor stays, or corporate bookings. Operators can realistically target gross yields of up to 15% through serviced strategies, driven by robust local demand and limited direct competition.
The flexible use Class E commercial space on the ground floor further enhances the income potential, appealing to a wide range of tenants – from cafés to health services, retail, offices, or indoor sport centre. With no planning permission needed to switch between most uses, the owner will benefit from flexibility; essential for future planning.
Few assets combine this level of versatility, income strength, and long-term control, making it a unique opportunity in today’s investment landscape.
Parking
The Vault is in the heart of Morley town centre, the largest town in the borough outside Leeds, offering excellent commuter access with the M62 and Leeds City Centre just 15 minutes away. The demand for quality properties in the area remains high, and as a freehold asset, this development offers a unique, future-proof investment opportunity.
Positioned on Queen Street, opposite Morley Town Hall and just steps from the high street, the property benefits from both visibility and convenience. Windsor Court shopping centre is just a 2-minute walk away, and Morley train station is only a 4-minute cycle ride. The area also boasts Scatcherd Park, which offers green space, a skate park, bowling green, memorial gardens, and a vibrant summer events calendar, making it a highly sought-after location for both tenants, residents, and visitors.
Why Invest Today
Leeds is one of the UK’s most dynamic regional cities, with a growing population, thriving digital economy, and major regeneration projects underway. The city has seen steady property price growth over the past 17 years. As of November 2024, apartment prices increased by 5.3% since the start of the year. Experts predict prices will rise by 16% by 2025, outpacing cities like Liverpool and Birmingham. Rental demand remains strong, with average rents for new-build one-bedroom apartments increasing by 30% over the past five years.
As a well-connected hub with fast links to York, Manchester, and beyond, Leeds continues to attract residents, professionals, and investors. The city welcomes over 30 million visitors annually, and short-term rentals achieve an average occupancy rate of 75%. Key sectors like healthcare are fuelling economic expansion, with health and social care employment up 16% since 2019 – more than double the national average. Innovation is also booming, with initiatives like the Nexus centre at the University of Leeds set to host over 60 start-ups, reinforcing Leeds as a magnet for talent, jobs, and investment.
North Property Group is a member of The Property Ombudsman