Modern Method of Auction
Auction date not yet published
We've tightened what earns a Pursue. A home now needs a published valuation, a strategy that still makes money after real running costs and lender stress tests, and no listing problems that would stop a mortgage. You'll see fewer Pursues, and each one has been checked harder.
See how verdicts work1-bedroom flat · LS2 7DF
For saleListed 1 day
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
**investment only** being sold via a modern method of auction **430 sqft** first floor position **contemporary bathroom** large feature windows **potential rental return of £850PCM** available immediately EPC rating C.
Forming part of Ice Works, is this light and bright - one bedroom apartment. Conveniently located opposite Leeds Market, the property offers well planned accommodation covering 430sqft.
The open plan living area is a great size and has a large feature window, which opens onto a glazed Juliet style balcony.
Off the entrance hall, is a good size double bedroom and contemporary bathroom.
Under new ntselat legislation, we are obliged to provide the following information:- Ground Rent - £150pa to £300pa on the 1st Jan 2032 Service Charge - £1,251pa, including buildings insurance Council Tax – Band B Lease Term - 125 years from January 2005 Heating – Electric Water - Mains connected Broadband - No issues to report Mobile – No issues to report Construction type – Steel and concrete frame Building Safety – ews B1 rated Flood Risk:- No Planning Permissions:- None the development:- Ice Works is a striking development, located on the corner of Kirkgate and Cross York Street.
This quirky, circular development consists of 54 apartments, all accessed from the development’s central courtyard, via open walkways - where all offer light and bright interiors and for the lucky few, private terraces.
The Northern Quarter boasts an abundance of independent bars, shops and restaurants - with Victoria Gate and John Lewis store being a very short walk away.
This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56-day Reservation Period.
Interested parties’ personal data will be shared with the Auctioneer (iamsold Ltd). If considering a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided, which you must view before bidding. The buyer is responsible for the Pack fee.
The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase price inc VAT, subject to a minimum of £6,600 inc. VAT.
Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £500 inc. VAT.
These services are optional.
Value & comps
No previous sales on record.
See the independent valuation, upside vs guide, and per-strategy max bid for this lot. Sign in to see it.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below starting price
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All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About THE ICE WORKS, 40 NEW YORK STREET, LEEDS
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