API Howard Residences - UK

HOWARD RESIDENCES Howard Street, Rotherham, UK

Executive Summary

Connecting Rotherham past and future

Howard Residences will bring a new standard of living to Rotherham.

Principle Features • Starter pads and 1 bed

Set to be ‘the place to live’ for post-graduates & key workers alike, Howard Residences will form a new residential community of young professionals with the provision of 125 stylish 1-bedroom and starter pads.

apartments from £49,950 and £69,950 • 8% ROI per annum • 3 Years GRR paid in advance • Title ready

Answering the Local Authority call for more high quality, affordable accommodation, Howard Residences will incorporate well-thought layouts that maximise both style and space - meeting the increased rental demand currently growing in the region.

Apartments are presented to investor’s title ready, leasehold and at a low entry level below market value.

• 6 Months between exchange

and completion • Free Legals & furniture

(if exchange within 21 days)

Rotherham

The historic town of Rotherham lies between Sheffield and Doncaster, just 6 miles (10 km) from Sheffield City Centre forming part of the Sheffield urban area

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Rotherham Minster Cathedral

Boston Castle

Magna Science Adventure Centre

Located in All Saints Square, Rotherham Minster dates from the 15th century and includes parts from earlier Saxon and Norman structures.

The Magna Science Adventure Centre, an interactive science and adventure centre built in the former steel works in Templeborough, has become one of the most popular tourist destinations in the region.

It was described by Pevsner as “the best perpendicular church in the country”, and by Simon Jenkins as “the best work in the county”.

Located in the grounds of Boston Park, Boston Castle was built as a hunting lodge by Thomas the 3rd Earl of Effingham, between 1773 and 1774 to mark his opposition to British attempts to crush the Americans in the war for independence. It is named after Boston, Massachusetts, formally the scene of the Boston Tea Party.

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Rotherham Civic Theatre & Arts Centre

Catcliffe Glass Cone

Rotherham Civic Theatre is a converted church in Rotherham, which is now a medium-scale proscenium arch theatre playing host to a wide program of professional and amateur dance, drama, musicals, children’s theatre, comedy, music and pantomime shows.

On the outskirts of Rotherham, a brick built glass making furnace, the Catcliffe Glass Cone, is the oldest surviving structure of its type in Western Europe and one of four remaining in the UK. Threatened with demolition in the 1960s, it has been preserved as a Scheduled Ancient Monument and stands as a focal point in a sheltered housing complex.

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A large thriving town in South Yorkshire, England, with a vibrant and growing population of over 257,800 people

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Popular Culture and Sport

Music & Food

Transport

Rotherham United Football Club

Rotherham Titans

Based at the New York Stadium, Rotherham United currently plays in The Championship. Rotherham Town and Rotherham County, who also both played in the Football League, previously represented Rotherham however have since been replace.

Rotherham’s rugby union team The Rotherham Titans reached the Guinness Premiership in 1999 and 2003 before being relegated.

The club plays at the Clifton Lane Sports Ground, and is also represented in rugby league by the Rotherham Giants of the Rugby League Conference.

Jamie Oliver, a UK Celebrity Chief, hosted a television series called ‘Jamie’s Ministry of Food’, which was broadcast on Channel 4 in 2008 and based in Rotherham.

The programme aimed to make Rotherham “the culinary capital of the United Kingdom” and put the town on the map as a popular tourist attraction for gastronomes across the world.

Rotherham has also produced many classic and progressive rock bands, supported by the Classic Rock Society, including famous names; Deadline, Saxon, Jive Bunny, Bring Me the Horizon, and Disarm.

Rotherham, part of the Sheffield City Region, sits at the centre of the UK amongst an integrated national road network. It also connects via rail to mainline services and is closely located to the Humber Ports on the east coast. Four international airports (Manchester, East Midlands, Humberside & Leeds Bradford) are located within 90 minutes of the borough, with the new Robin Hood Airport Doncaster Sheffield (RHADS) located under 30 minutes drive away.

Road & Rail Links

Airports

Freight

South Yorkshire offers fast and easy road links to the rest of the UK, via the M1, M18 and M180 motorways, and the A1(M).

Four international airports within 90 minutes give Rotherham-based companies access to 46 European cities and 370 million consumers in less than three hours.

Sea transport facilities are less than 96km (60 miles) away, including the Humber ports of Hull, Goole, Grimsby and Immingham, and are easily reached via the South Yorkshire Navigation Canal and M18 and M62 motorways.

Excellent regional rail links include direct services to London, in less than two hours, Leeds, Edinburgh, Birmingham, Manchester and Liverpool.

Virgin Racing

Olympians & Sports

Former Formula One team Virgin Racing were based in Dinnington in the borough, with IndyCar and former ChampCar and Formula One driver Justin Wilson also originating here.

Hurdler Chris Rawlinson, Olympic gold medalist sailor Paul Goodison, Olympic silver medalist Peter Elliott, former England goalkeeper David Seaman and 2010 World Cup final referee Howard Webb are all from Rotherham.

Rotherham also benefits from direct travel to international destinations from the new 324-hectare (800 acre) Doncaster-Sheffield Airport nearby.

The planned Doncaster Inland Port development will encompass up to 5.75m sq.ft. of rail linked distribution warehousing plus an intermodal container facility that will provide retailers and third-party logistics providers with buildings that have both direct motorway access and direct rail to port container services.

The inland port will also benefit from having customs clearance and bonded warehouses on site.

Investment Market

Building a new future with exciting new jobs, education facilities and investment Rotherham has created a diverse and thriving local economy, offering excellent conditions for jobs and businesses. Almost 90 overseas companies have already invested in Rotherham. They and local companies operate across a wide range of sectors, including aerospace, food production, healthcare, automotive components, ICT and other hi-tech industries.

Rotherham has transformed over the last decade and is playing a major role in the forefront of Yorkshire’s resurgence.

• Approximately 52% of the

Borough is rural, and the town is surrounded by attractive villages and rolling countryside

• It has competitive land prices and

• Rotherham has the highest rate

is one of the most cost effective locations in the UK

of business spend on R & D in South Yorkshire, £2.9M per 10,000 jobs

• The joint Rotherham and • It has a population of

around 257,000 with a vibrant mix of people, cultures and communities • The quality of life in Rotherham

is good, and the cost of living is significantly less than the UK average • It has excellent transport links

to both the rest of the country and beyond, served by excellent road, rail and air links, with both the M1 and M18 passing through the borough

Sheffield economy has a larger working age population than Leeds; with job growth between 2000-2005 double that of Leeds • Over 18% of Rotherham’s

workforce (19,000) work in growth sectors such as Advanced Manufacturing, Creative and Digital and Energy and Environmental - above the national average of 14%

• It’s an increasingly prosperous

town, with investment at an alltime high, and a vibrant economy

Education Education is one of Rotherham Metropolitan Borough Council’s top priorities. There are more than 200 schools and the borough also has four colleges offering post-16 education.

School buildings across the Borough are being transformed with the help of a £240m plus Private Finance Initiative.

The proportion of people from Rotherham entering and graduating from higher education has risen at a faster rate then elsewhere in the UK in recent years, with more than 1,000 graduates each year from the Borough.

Rotherham College of Art & Technology is also undergoing a huge transformation with a new town centre campus under construction. The plans are to create a £59m, 34,000 sq.m unified landmark building to a high specification on the site of the current Eastwood and Clifton buildings used by the college. It is expected that the new facilities will boost the image and profile of the college, and the town, to attract and retain students and raise the quality of learner experiences.

Rotherham is just a few minutes’ drive from South Yorkshire’s two highly acclaimed universities, providing high-calibre graduates from their student population of 40,000-plus.

Yorkshire & Humber region has 10 universities, producing more than 10% of the UK’s graduates each year, with 40% qualifying in scientific, electronic and computer science related subjects. The region supplies 25% of all electronics graduates in the UK.

Property Forecast

In tandem with the UK forecasted to be the ‘fastest-growing Western economy’ in Q4 2013 by ICAEW (the body representing English and Welsh accountants), the nation’s property market is starting a new cycle and once again on an upward curve.

But it is the growth in the private rented sector over the last decade, which should be of real interest to investors.

According to the 2011 Census, the PRS has grown by 2 million households since 2001 with up to 1 million new PRS households expected in the next 5 years according to the latest Savills research. This growth will inevitably result in even more pressure on rental stocks, pushing rental prices up further – a highly attractive proposition for prospective buy-to-let landlords.

With Savills expecting rents to rise by 21% over the next 5 years, interest rates remaining low and buy-to-let mortgage finance more widely available, now is the perfect time to invest in a UK buy-to-let property.

Rotherham Market A review of the housing offer in Rotherham, extending around the town, illustrates a series of development opportunities interspersed with areas of older housing needing refurbishment and upgrading.

• Approximately 108,300

households • 20,993 are Council rented homes • Vast majority of Council housing

is classed as ‘decent’ • Significant decency issues in the

private rented sector over the last 2 years • Average housing density is 4

dwellings per hectare • 70% of housing is based across

rural areas

The growing population in Rotherham not only adds pressure on housing supply in the borough but also presents new challenges for local housing authorities, which are attempting to provide suitable housing options for older generations whilst trying to balance the increasing demand from families and young professionals.

The number of new homes built is at an all-time low, especially in urban areas catering to small households (1-2 bedroom), even though over 24% of the population is under 25 and 23% are single.

• 540 new homes delivered

each year • 12,750 more dwellings needed

by 2027 This trend, along with projected growth in the population, is a major consideration for the provision of high quality, affordable, private sector accommodation in the area.

Howard Residences The contemporary transformation of a landmark Rotherham building, Howard Residences connects Art Deco styling with 21st century living.

From dynamic apartment layouts to classic period faรงade and stonework surrounds, Howard Residences brings together Rotherham past and present to create a truly unique place to live for post-graduates, young professionals & key workers.

Apartments are arranged over 4 floors and include 1-bedroom & studio designs. Each unit has been carefully considered, incorporating well-thought layouts that maximise both space and style.

Space and privacy go hand in hand, with each completely self-contained apartment fitted with a fully integrated kitchen and stylish en-suite shower room.

Sophisticated finishing touches have been introduced alongside carefully thought interiors to find the right balance between design and affordability, making apartments the perfect mix.

Standard Specification

Starter Pad

Interior finishes

Kitchens

Bedrooms / Halls / Living Areas

Bathrooms

• Industrial floor paint with non slip

• Contemporary Technik Oak

• Pre-wired for BT and broadband;

• Free standing contemporary

rubber nosings to corridor/stairs • Wood effect laminate flooring

effect kitchen

Freeview, SKY and DAB radio services available

• Wall mounted and base units

to entrance

walk-in shower • Wall mounted chrome shower

• Fitted carpet in neutral off white

head with flexi hose

• Standard stainless steel finish, • Solid fire rated doors with Dulux

grey finish and polished chrome handles

or similar, undermounted sink with double drainer and polished chrome mixer taps

• Deck mounted chrome

finishes and walls in Dulux soft white finish

• Fitted worktop and splashbacks

• Skirting and architraves in Dulux

satin white finish • Door entry system with two way

speech facility and call panel

glazed shower doors with polished chrome frame

• Large format wall tiling

in 4 colour options to length of bath, half height to remaining perimeter pendant fitting • Ventilation ceiling mounted

extractor fan • White Vitreous china wash-hand

basin with semi-pedestal • Large format ceramic floor tiles

in 4 colour options

taps throughout

• Contemporary ceiling lighting

• Free standing oven with

integrated 4 ring induction hob

• Leico Atlas polished chrome

thermostatic shower mixer tap • Chrome siderail kit and clear

• Matt white painted ceiling

1 Bedroom Apartment

• Electric vent heater by Vent Axia

above door • White Vitreous china WC with

dual action push flush

• Large format ceramic floor tiles

in 4 colour options

Location Entrepreneurial, energetic and creative

Punctuating the junction between Howard Street and Eastwood Lane, Howard Residences is one of the largest period buildings remaining in the area. The 4-storey building sits central to the town centre – the essential setting.

The mixed-use area consists of educational establishments, retail units and offices, and is located close to public transport links with the main bus station and railway station within a 5-minute walk.

All main retail and leisure facilities are also in close proximity, providing superb access for city workers, young professionals and commuters alike.

The growing population in Rotherham not only adds pressure on housing supply in the borough but also presents new challenges for local housing authorities, which are attempting to provide suitable housing options for older generations whilst trying to balance the increasing demand from families and young professionals.

The number of new homes built is at an all-time low, especially in urban areas catering to small households (1-2 bedroom), even though over 24% of the population is under 25 and 23% are single.

Distance

Time

Town Centre

0.6 miles

3 minutes

Rotherham Minster Cathedral

0.9 miles

4 minutes

Clifton Park

0.2 miles

1 minute

Magna Science Adventure Centre

2.3 miles

9 minutes

Rotherham Civic Theatre & Arts Centre

0.2 miles

1 minute

Rotherham United Football Club

0.9 miles

4 minutes

Boston Castle

1.1 miles

5 minutes

Rotherham Superstore

0.7 miles

4 minutes

Herringthorpe Stadium

1.5 miles

5 minutes

Rotherham Central Station

0.3 miles

5 minutes

Meadowhall Station

2.6 miles

9 minutes

Darnall Station

4 miles

5 minutes

Attractions

Transport

The Investment Tailored to meets the needs of our investors, Howard Residences have created an investment package unlike any other currently on the market.

• 8% ROI per annum • 3 Years GRR paid in advance • Title ready • 6 Months between exchange

and completion

An innovative approach to traditional UK investment

• Free Legals & furniture

(if exchange within 21 days)

Buyer Information There are no additional fees associated with your investment, other than the Legal fee. The Legal Fee is approximately £1,500 per unit, however this is waived if investors exchange within 21 days.

The management costs of £700 and ground rent of £300 are charged annually.

• 5% Interest paid on

deposit monies

Financial Summary

Hassle Free Management

Unit Type

1 Bedroom

Starter Pad

Size

452 Sq.ft

226 Sq.ft

Price

£69,950

£49,950

Reservation Fee

£2,500

£2,500

Exchange Deposit

£34,975

£24,975

Completion Balance

£29,975

£19,975

Annual Rent

£6,600

£4,980

Management Fee

£700

£700

Ground Rent

£300

£300

Net Annual Income

£5,600

£3,980

% ROI

8%

8%

GRR Paid in Advance

£16,800

£11,940

Howard Residences allows investors the peace of mind to enjoy all the benefits of a secure UK property investment, without having to worry about management and occupancy.

Howard Residences believe that by starting with a truly affordable rental pricing position we can provide: • Increase rental incomes over

The management team will take care of the complete running of the property, from the securing of new tenants to general maintenance, 24-hour on-site security and daily operations.

several years (in line with inflation and sensible growth) • A maintained position of the

most affordable accommodation (in that geographical location) • A secure investment with

minimal uncertainties

Frequently Asked Questions Are units furnished?

Who will hold my reservation fee?

No - rooms are available furnished at an additional cost of £2,000, however this fee is waived if investors exchange within 21 days.

The reservation fee of £2,500, and the subsequent balance payment, are all transferred to the lawyers account, and kept there until exchange & completion.

Are units Freehold?

No. Units are Leasehold 125 years from January 2014 and offered title ready.

Who will manage the property and my unit?

The management team at Howard Residences will fully manage each property and maintain the building.

Is there a Legal fee?

Yes - the Legal Fee is approximately £1,500 per unit, however this fee is waived if investors exchange within 21 days.

Does the same lawyer represent the developer and the purchaser?

No - the lawyer representing the developer will not be able to represent the buyer. We have selected a few legal firms in UK, based on their credibility and experience, to represent the buyers.

The buyer has the option to use a legal firm of the buyer’s choice as well, as long as the firm has license to perform conveyance of UK properties. In this case, we are not able to advise on the legal fee, or provide any legal fee discounts.

Do I have to travel to the UK to sign the contracts?

When will I start receiving my rental income?

No - the lawyer can email or courier the contracts to wherever you are. But the signed original contracts need to be couriered back to the lawyer in UK.

Rental income is calculated from the day the title is transferred to the new buyer.

Are there any websites that I can use to check the existence of legal firms in the UK? 1. The Law Society is a representative body of UK solicitors: www.lawsociety.org.uk 2. The Solicitors Regulation Authority (SRA): www.sra.org.uk

Are the rents paid annually?

The rents are paid up front.

For further information and availability on this project please call: +44(0)20 3291 3237 and select option 4 or Email info@africapropertyinvest.com www.africapropertyinvest.com

All rights reserved API Worldwide Ltd Company No: 9298962 registered in England and Wales. Part of the SFA Worldwide Group. Registered office Vulcan House, Restmor Way, SM6 7AH

All information contained in this brochure is correct at the time of print, API Worldwide Ltd are marketers and work for and on behalf of Avro Developments limited