EAST POINT LEEDS | UNITED KINGDOM
www.knightknox.com | +44 (0)161 772 1370
CGI representation of East Point
EAST POINT • • • • •
Assured NET rental returns of circa 6.94% 14th development launched in partnership with Fortis Developments High rental demand in Leeds for rental property Experienced lettings and management company in place Completion Q1 2016
3.
www.knightknox.com | +44 (0)161 772 1370
BUY WITH CONFIDENCE
MediaCityUK, Salford Quays
A market leader in the UK buy-to-let sector, Knight Knox International has launched 40+ developments onto the UK market, totalling more than 3,700 units at a value in excess of £230million.
By forging strong relationships with a select number of developers, we work in partnership with them on their projects and, as such, are able to provide our investors exclusive access to prime developments across the country.
With reports that 1/3 of the population will be a private tenant by the year 2020, it is little wonder that the buyto-let market in the UK is thriving, leading to an influx of investment into prime regional markets that will alleviate the strain on the local housing markets.
“ Before I started working with Knight Knox my investment strategy had been quite hit and miss. I now have a growing property portfolio that gives me confidence that my family’s future will be financially secure. There is so much confusion around investing and Mike Sefton and the team at Knight Knox provide sound advice and are focused on achieving my investment needs. ”
John Kini, Property Investor
5.
www.knightknox.com | +44 (0)161 772 1370
THE UK BUY-TO-LET LANDSCAPE
The demand for rental stock in the UK is the highest it has ever been, as the continued rise in house prices ensures that first-time buyers cannot afford to take that first step onto the property ladder. Instead, tenants are looking for high-quality rental accommodation, in properties which they can essentially move straight into, without the hassle of waiting for it to be redecorated or repaired.
As the property market starts to move and construction picks up pace, buy-to-let properties are increasingly becoming a more hands-off investment than they have ever been before, due to the newbuild status of the building and the improved quality of the lettings and management agencies which are employed to maintain the property.
A specialist in the UK buy-to-let sector, Knight Knox International has released over 40 exclusive developments, all of which are located in prime rental areas and offer access to experienced lettings and management companies, which are highly experienced in this sector.
By 2018, one in five households will be in the private rental sector Savills, Investing in Rental Britain, 2013
With UK house prices predicted to rise by 7% in 2014, the buy-to-let sector is definitely here to stay!
7.
www.knightknox.com | +44 (0)161 772 1370
EAST POINT APARTMENTS
Leeds Wharf
rd
43
Development to be launched by Knight Knox International
A high-end development of just 39 apartments, East Point is the perfect place for the young professional allowing for a quiet nights’ sleep before work, yet being just a minute’s walk from Leeds City Centre and its vibrant club scene for when weekend arrives. A picturesque city, Leeds is awash with beautiful architecture, and more listed buildings standing than any other UK city besides London. This will leave East Point residents spoilt for choice; although, two listed buildings which will be of particular interest will be Leeds Corn Exchange and The Victoria Quarter, two-high end shopping centres which are both reachable within a 15 minute walk. Not only attractive for its beauty, Leeds is a city full of career opportunities, as evidenced by the fact that there were more jobs created here than any other UK city between 2010 and 2012. With most of these jobs located in the city centre, East Point is the perfect home for commuters allowing for work to be reached just within a short walk. East Point is another building loaded with character having previously been home to Leeds College of Technology for a number of years. The building will now undergo an extensive conversion and have two
further new-build storeys added, in order to comprise the 39 apartments. Set to be complete by July 2015, the conversion of East Point will cost approximately £2.4 million and will be the 14th joint venture carried out by Knight Knox International and Fortis Developments, having previously enjoyed success in Birmingham and Liverpool, Nottingham & Glasgow The partnering companies have a formidable track record, which has seen them deliver a number of completed fully-let developments such as Rede House in Middlesbrough and St Andrews Court in Glasgow. East Point will follow the typically high standards of previous developments delivered by the firms, granting residents access to communal rooms, bike storage and 16 individual parking spaces. A planning application has been submitted to Leeds City Council and the expected completion date of the project is July 2015. Apartments in East Point are now available to purchase through Knight Knox International at a starting price of £100,000 and investors will be assured of a rental NET yield of circa 6.9%.
9.
www.knightknox.com | +44 (0)161 772 1370
LOCATION INFORMATION LOCAL DESTINATIONS
Leeds Skyline
1
West Yorkshire Playhouse
0.6 miles | 3 minutes drive
2
Victorian Arcade and City Centre
0.8 miles | 4 minutes drive
3
Trinity Leeds Shopping Centre
0.8 miles | 4 minutes drive
4
Leeds Train Station
0.9 miles | 6 minutes drive
5
Leeds Metropolitan University
1.7 miles | 8 minutes drive
6
University of Leeds
2.3 miles | 12 minute drive
Central Leeds
Leeds Wharf
1 6 5
2 3 4
East Point
11.
www.knightknox.com | +44 (0)161 772 1370
ABOUT LEEDS
Trinity Leeds Shopping Centre
Leeds has an occupancy rate of over
92% reflecting the high demand for rooms in Leeds’ thriving rental market Knight Frank Property Report 2013-14
Awash with breath taking architecture and scores of museums holding the key to the city’s past, Leeds often pays tribute to its history; yet the bars, decadent restaurants and bustling nightclub venues which line its streets, paint a picture of a city which more importantly, is committed to a massive future.
Yet it is not all work and no play, Leeds is a city famous for its lively pub, club and shopping culture. For party people, Call Lane is the most commonly tread road in Leeds, where revellers often visit Oporto (recently named best night out in the UK), North Bar, and Oracle to bring the weekend in.
Despite being home to more listed buildings than any other UK city besides London, Leeds is a city which has tailored itself to be at the forefront of Britain’s modern economy, turning over more than £52 billion per year.
The city, however, is even better known for its shopping. Leeds’ most exciting shopping centres are two listed buildings, which house some of the most boutique and quirky fashion stores in the city. The first of these is the Victoria Quarter, a unique shopping centre which houses more than 70 of the world’s leading designer brands to suit all needs. While, the second of these, The Corn Exchange, hosts independent stores providing quirky clothing options for the alternative types.
Over the next few years it is expected that Leeds’ economic growth will outperform that of the whole UK, making this the perfect base for young professionals to launch or continue an already prosperous career. In fact, job creation rates in Leeds were higher than any other UK city between 2010 and 2014 ensuring that opportunities are at a premium in this thriving city.
This has all contributed to create a thriving rental market in the city. In July 2014, Leeds was placed firmly at the top of the table as the strongest performing UK city in terms of investor yields (8.2%) by property consultants, Knight Frank.
It was the second consecutive quarter where Leeds topped this table, having finished first ahead of London and Birmingham in the Q4 2014 PRS index, reflecting the consistent performance of Leeds’ rental market. These are not the only experts to highlight Leeds’ thriving market, last year Buy-to-let mortgage specialists TBMC stated that Leeds, Nottingham, nd Southend-on-Sea return higher rental yields than any other UK cities. This is therefore the perfect time to invest in Leeds as demand from young professionals is soaring ensuring investors of long-term tenancies and constant rental returns. With East Point Court situated within walking distance of Leeds city centre, this is the perfect home for young professionals who want to be just a short walk away from work, and therefore the perfect investment opportunity.
13.
www.knightknox.com | +44 (0)161 772 1370
FINANCIAL BREAKDOWN
Leeds Skyline
1-bed apartment priced from £100,000 Rent £680 Gross Rent £8,160 Maintenance Fee £816 Management Fee £408 NET Income £6,936 NET Yield 6.94%
2-bed apartment priced from £120,000 Rent £825 Gross Rent £9,900 Maintenance Fee £990 Management Fee £495 NET Income £8,415 NET Yield 7.01% 3-bed apartment priced from £130,000 Rent £900 Gross Rent £10,800 Maintenance Fee £1,080 Management Fee £540 NET Income £9,180 NET Yield 7.06%
The Leeds rental market in the first quarter of 2014 showed a rental growth of
5.1% Savills, Property Report 2013-14
All figures are based on forecasts provided by the developer, are indicative only and are subject to change. Any financial information provided iin this document are intended as a guide and does not constitute a contract.
15.
www.knightknox.com | +44 (0)161 772 1370
GENERAL SPECIFICATION Commercial classic gel back carpets or wood effect vinyl throughout Slate affect vinyl throughout all kitchen areas Recessed ceiling mounted LED down lighters Wet system heating to all units with fitted radiators
INTERIOR SPECIFICATIONS
KITCHEN AREA
BATHROOMS
COMMUNAL AREAS
Fitted kitchen in oak, dark oak or walnut finish with laminated worktop
Fitted three piece white bathroom suite including bath, sink and toilet
Key pad entry system and intercom access
Branded appliances - fridge freezer, electric oven, electric hob and hood extractor
Tiles or splashback surrounding bath and sink areas
Splashback arrangement to kitchens
En-suite bathrooms fitted with thermostatic shower cubicle, sink and toilet
Secure gated external car park with CCTV Communal satelite dish - subscriptions required for pay-per-view channnels
17.
www.knightknox.com | +44 (0)161 772 1370
DEVELOPMENT FLOOR PLANS
CGI representation of East Point
Apartment 202 (2-bed) 90.1m2
Apartment 205 (1-bed) 62.1m 2
* All plans are based on concepts provided by the developer, are indicative only and are subject to change.
19.
www.knightknox.com | +44 (0)161 772 1370
Setting the standards for student, leisure and residential development throughout the UK!
DEVELOPER PORTFOLIO 1
2
3
4
Sovereign House, Sheffield
2
Chronicle House, Chester
3
Burgess House, Newcastle
4
Robert Owen House, Glasgow SOLD OUT!
5
Devonshire House, Birmingham SOLD OUT!
6
Rede House, Middlesbrough SOLD OUT!
7
All Saints, Sunderland SOLD OUT!
8
6
5
1
7
Fortis Developments Ltd is one of the fastest growing development companies in the UK. The company was created to provide luxury developments, achieving the growing standards in the marketplace. Firmly established at the forefront of the industry, Fortis Developments is now one of the most experienced
been a combination of creativity and functionality.
and extensive developers of student accommodation, luxury apartments and regeneration schemes in the UK. We undertake luxury student accommodation and regeneration projects in prime locations at key university sites nationwide. Along with our careful choice of locations, the cornerstones of our success have
It is our objective to create highly sought after developments in growing markets around the UK.
9
8
Merebank Court, Liverpool SOLD OUT!
9
Minerva House, Nottingham SOLD OUT!
10
St Andrew’sCourt, Glasgow SOLD OUT!
11
Central House, Glasgow SOLD OUT!
12
Bard House, Nottingham SOLD OUT!
13
Dunn House, Sunderland SOLD OUT!
10
12
11
13
21.
www.knightknox.com | +44 (0)161 772 1370
PURCHASE PROCESS & FAQ’S
NEXT STEPS
Investing through Knight Knox International is a quick and easy process, simply;
1. Speak to a Knight Knox Property Consultant 2. Choose your apartment 3. Complete the reservation form and pay deposit 4. Solicitor instructed, legal documents and sales pack sent out 5. 50% of balance to be paid on exchange of contracts, within 21 days 6. Remaining balance due on completion of building
Contact a property consultant today to reserve the best unit! Tel: +44 (0)161 772 1370 | Web: www.knightknox.com
Q. Am I buying as freehold or leasehold? A. 250 years leasehold Q. What is the address of the site? A. Eastbank Court, East St, Leeds, LS9 8DP Q. Are there tenants already in place? A. No, East point is a refurbishment project of a former college building with a two-storey extension Q. What are the projected annual returns on this project? A. Returns of circa 6.94% are assured for the first year Q. Can I receive finance on this development? A. There is currently no finance offered by the developer Q. When is my rental income paid? A. Quarterly in arrears, direct into your bank account from completion Q. Is there a management company in place? A. Yes, the designated management company will be Fortis Lettings and Management, who will block manage and let the building Q. Are there any restrictions if I want to sell? A. No, East Point is a residential development, so you are free to sell your unit on the open market
23.
The information contained within this document is intended as a general guide. This information does not constitute an offer or a contract and we (or anyone in our company) do not imply, make or give any representation, guarantee or warranty whatsoever relating to the terms contained within. Any intending investor must satisfy themselves as to the correctness of any of the statements, plans or images contained within. Images are for representational purposes only. The content contained within is correct adhering to the previous statement at the time of publishing.
1407-V1