Town Hall
Market Leaders in Worldwide Property Investment
1. +44 (0)161 772 1370
INvestment Highlights • 6% assured NET rental yields for 5-years • Prime property in an excellent location • 122-unit development, comprised of 1 and 2-bedroom apartments • Within walking distance of all local shops, restaurants and bars • 5-minutes from Manchester city centre • Secure parking spaces available on selected units
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Knight Knox International provides the information contained within this document 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.
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x1 town hall .4
Rents in England and Wales have climbed 3.2% on an annual basis
LSL Property Services Buy-to-Let Index October 2012
d
Formerly a Magistrates Court and
Comprised of 93 one-beds, 6 two-
transport routes into the city,
Town Hall, this beautiful Grade II
beds and 23 penthouse apartments,
residents are less than a 20-minute
listed building is undergoing an
the development has been designed
walk to Manchester’s main shopping
extensive refurbishment to transform
to cater for the demands of the local
and business districts, and less than a
it into 122 luxury double apartments,
rental market, offering numerous
five-minute drive to the M60, allowing
re-branded as X1 Town Hall.
facilities including parking spaces
for easy access to neighbouring cities
with selected units, secure bicycle
and towns.
After closing its doors in 2010, this
storage for the more environmentally
impressive building was left to
conscious residents, and a private
Certain to attract interest from
ruin, until X1 Developments saw its
gymnasium and library.
both the local rental market and commuters alike, X1 Town Hall offers
potential as a high-end residential development. Working closely with
Located on the outskirts of
investors an assured rental period for
the local council, X1 Developments,
Manchester city centre, X1 Town Hall
the first five years and will be let and
in partnership with Knight Knox
is within walking distance of all local
managed by an onsite management
International, will breathe new life
facilities and amenities, including
company - X1 Lettings, a firm highly
into this historic building, restoring
Salford Central Train Station, shops,
experienced in the UK buy-to-let
many of the original features, in-
restaurants and bars. Although
market.
keeping with its listed status.
situated on one of the main public
s
s
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ABOUT BUY-TO-LET
The traditional buy-to-let market in
property ladder. Instead, tenants
the UK’s regional cities is beginning
are looking for high-quality rental
to show strong signs of recovery. For
accommodation, in properties which
the past 3-4 years, the buy-to-let and
they can essentially move straight
off-plan market in London has seen
into, without the hassle of waiting for
unprecedented growth, in the main
it to be redecorated or repaired.
due to the large amount of foreign investment that has poured into the
So is buy-to-let still a ‘safe’
city. Continuing on from this trend,
investment? No investment can
Manchester is one of the strongest
ever be considered safe, but there
rental markets outside of the capital,
are certain sectors, like buy-to-let,
due to a severe shortage of new-
where you can minimise your risk.
build stock for at least the past five
Purchasing a buy-to-let property is
years, providing investors with the
once again being viewed as a way to
opportunity to purchase at the start
generate a positive cash flow on your
of a market cycle.
investment, as income is generated not only on rent, but from the capital
Once considered the proverbial ‘cash
appreciation gained on the property
cow’ of any property portfolio, when
from the start.
the market crashed, landlords found themselves having to diversify their
So why choose off-plan? The UK
assets into alternative investments,
has experienced a serious lack of
as a way to maintain control over
construction in regards to residential
their funds. But the market is
stock in its regional towns and cities
beginning to turn; the demand for
for the last 5-6 years, which means
rental accommodation in the UK
that many properties which will
is the highest it has ever been, as
previously have been classed as
the continued rise in house prices
‘new-build’, are now reaching their
ensures that first-time buyers cannot
10-year anniversary. As properties
afford to take that first step onto the
age, they require more maintenance
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to keep them at a level regarded as
coupled with the knowledge that
the minimum standard required by
there should be minimal maintenance
tenants, leading to a rise in rents as
required on the property for at least
landlords try and re-coup some of the
the first couple of years; off-plan buy-
money they are having to pay out.
to-let is actually a cheaper option in the long-term for any savvy investor.
ABOUT BUY TO LET
As the construction industry begins to
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pick up pace, we are at the start of a
Constantly sourcing the best-
new wave of off-plan developments,
value properties, we have once
many of which will not be complete
again extended our portfolio to
until 2013/2014. Keeping in mind
bring off-plan, residential buy-to-
tenant demand for new-build
let opportunities to our investors,
accommodation, particularly in or
in some of the best locations in
around city centres, landlords can
the UK. In direct response to the
charge a premium on their property,
demand for new-build, city centre
at rates which are currently not
accommodation, X1 Town Hall is
achievable for existing stock.
the second development we have launched this year and interest in
Buy-to-let properties are increasingly
already high in this sought-after
becoming a more ‘hands-off’
location.
investment than they have ever been, due to the improved quality of the
With the demand for rental
lettings and management agencies
accommodation not likely to end
that maintain the property. This
anytime soon, off-plan buy-to-let is
leaves landlords confident that their
once again a welcome addition to
tenants are being looked after and,
any property portfolio.
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Built over three floors, the residence will contain 122 double apartments, a library, lounge and gymnasium, in addition to room for commercial units on the ground floor and secure bicycle storage and laundry facilities in the basement.
INVESTMENT SCENARIO
Starting at £74,950 for a one-bedroom apartment and offering an assured NET rental yield of 6% for the first five years, investors can choose from four different room options, each of which comes complete with furniture pack.
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• 2-bed apartments £120,000 • 1-bed penthouse apartments £89,950 • 1-bed (large) apartments £79,950 • 1-bed (standard) apartments £74,950
Purchase Price: Gross Rental Maintenance Fee: Management Fee: Ground Rent: NET Income: NET Yield:
Projection Purchase Price Annual NET Rental Income Projected Future Asset Value
Projected Total Value (Asset Value + 5Yr Rental Income)
£74,950 £6,600 £1,200 £624 £250 £4,526 6%
(typical after 5-year rental assurance)
3% Conservative
5% Expected
7% Buoyant
£74,950
£74,950
£74,950
£4,526
£4,526
£4,526
£86,888
£95,658
£105,122
£109,518
£118,288
£127,752
Figures are based on forecasts provided by the developer and are subject to change. Any financial information provided in this document is intended as a guide and does not constitute a contract.
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Studio apartments
ÂŁ850 pcm This stunning studio apartment has over 700 sqft of luxury
Superb waterside apartment at the prestigious NV Buildings, Salford Quays, adjacent at itsThe best, whichfeatures includes exposed work,cast iron to living MediaCityUK. apartment allocated parkingbrick and balcony with views over the Detroit Bridge. and vaulted ceilings. original columns Stylishly furnished, large open plan living area includes dishwasher, fan oven, separate The property benefits frombedrooms havingwith a family-sized microwave and all mod-cons. 2 double fitted wardrobes.shower
room, fully-fitted and integrated kitchen and a view that
Concierge is available 24/7. The apartment complex iscourtyard. very close to Harbour City tram overlooks the maintained communal stop.
local comparables
ÂŁ795 pcm ÂŁ675 pcm
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A wonderful studio, located on the 7th floor of a landmark development. Close to the Deansgate area of the city centre with numerous amenities provided including shower room, open plan lounge/dining area, kitchen, bedroom, and balcony. A concierge service is provided and underground parking a real benefit.
1 bedroom apartments
£825 pcm A 1 bed fully-furnished duplex penthouse apartment with accommodation over two floors. Contemporary high gloss Built by Lowry Homes, XQ7 is a high spec development with it`s own private entrance kitchen with appliances inc dishwasher, washer dryer, double to the Metrolink station at Exchange Quay for XQ7 residents. bedroom. Providing convenient access to all the attractions available in Salford Quays, the development is just 5 mins walk to Old Trafford Football stadium and 5 mins on the The property benefits from secure parking. Situated close to tram to Manchester.
tram and transport links and just minutes from city centre
This fully furnished spacious two bedroom, two bathroom apartment is of the highest quality and design. The open plan kitchen features integrated dishwasher, fridge freezer and washer dryer. In addition, the floor tiling in the kitchen and bathroom incorporate an underfloor heating mat to raise the surface temperature of the tiles to provide maximum comfort underfoot. The property also benefits from underground parking. Quality as such affordability!
£950 pcm £575 pcm
The Century Buildings is located just off Deansgate and opposite St Mary`s Gardens. If you`re wanting to be near to Spinningfields, House of Fraser, Harvey Nichols or Victoria Station, then this is the ideal location! This newly decorated and furnished/unfurnished large 1 bedroom apartment benefits from a large balcony making it extremely bright and airy.
Information taken from RightmoveUK on 09/05/2013
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At David Roberts & Co. our experienced property solicitors provide a wide range of services to help safeguard your home or property investments. From tenancy agreements to advice on buying property at auction, we’re here to provide guidance and support whatever your circumstances may be. With no hidden costs and a same day response promise, our friendly solicitors make property law straightforward and hassle free. We’ll explain all
SOLICITORS
the processes clearly and answer any questions you may have. David Roberts & Co. helps businesses like you. We take complex commercial property matters and make them simple. We use plain English, not legal jargon. Likely timescales, costs and outcomes are explained at the start, and we keep in regular contact throughout. And any questions you have, we make sure we deal with them promptly.
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15.
The third most popular destination
business hubs, including Birmingham
for international visitors in Britain,
and London. Plans are also in place to
Manchester attracts over 900,000
expand the city’s transport system,
visitors annually and is home to over
most notably the extensions to
500,000 residents, including over
Manchester’s tram system in 2016,
50,000 students of many different
which will establish the tram network
nationalities, who help to make
as the largest in the UK.
Manchester a truly International city. Visitors from all corners of the
The city’s breadth of attractions and
world continue to board planes to
host of new initiatives has made
Manchester International Airport
Manchester an increasingly attractive
because of the city’s impressive
place to live and competition for
number of attractions.
accommodation amongst those who
MANCHESTER - ABOUT
desire to reside in the city centre has
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The many eateries and coffee shops
become substantially greater. The
which line its streets, coupled with
rise in demand has led to landlords
attractions such as the Museum of
announcing gross rental yields of
Science and Industry (MOSI) which
7.6%, the fourth highest in the UK
celebrate the innovative nature of
according to a study carried out by
a city that invented the computer,
HSBC this year.
continue to lure tourists to the city. With the National Housing Federation Manchester lies at the heart of
predicting that rental rates will grow
an expansive motorway network,
in the city by 36% by 2018, an asset
with the M60 ring road and the M6
in Manchester is set to be a worthy
creating links between Manchester
addition to any savvy investor’s
and some of the UK’s most important
property portfolio
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DISTANCE TO MAJOR UK CITIES LONDON | 3 HOURS 29 MINS NOTTINGHAM | 1 HOUR 51 MINS
X1 TOWN HALL
LEEDS | 57 MINS LIVERPOOL | 42 MINS BIRMINGHAM | 1 HOUR 32 MINS
Each location stated below is within a 10 minute Drive of X1 Town Hall 1. Piccadilly Train Station - 9 minutes 2 . Victoria Train Station - 4 minutes
MANCHESTER - map
3. Main shopping district (Market Street) – 6 minutes
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4. University of Manchester - 8 minutes 5. Royal Exchange Theatre – 6 minutes 6. Restaurants & Bars (Castlefield / Deansgate) – 5 minutes 7. AMC Cinema - 4 minutes
X1 TOWN HALL
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frequently asked questions
Am I buying as Freehold or Leasehold? 999 years leasehold What is the address of the site? X1 Town Hall Bexley Square Salford M3 6DX Are there tenants already in place? No, X1 Town Hall is being completley refurbished and will be ready to accept residents in December 2014 When will the building be completed? December 2014 What are the projected annual returns? 7-8% Yields from Year 6 Can I receive finance on the development? There is currently no finance offered by the developer
When is my rental income paid? This is paid quarterly in arrears direct into your bank account from completion Is there a management company already in place? Yes, the designated management company will be X1 Lettings, who will block manage and let the building Can I resell my unit? Yes, you can sell at any time after exchange of contract Are there any restrictions if I want to sell? No, X1 Town Hall is a residential development so you are free to sell your unit on the open market as a buy-to-let apartment
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• Once your unit(s) has been
require assistance, as we have
at the time of exchange you
selected with the help of your
a selection of recommended
will also be required to sign and
property consultant, please
solicitors who are experienced
return your contracts. If you are
complete the reservation
in handling buy-to-let
unable to do this due to your
agreement and return along with
accommodation investment
location your solicitor will be able
a copy of your passport, recent
transactions.
to act as your Power of Attorney.
utility bill and your deposit. The bank transfer details will be found
Please note that your solicitor •
on the reservation agreement.
Your solicitor will advise you of the paperwork they will require from you. Please return this
•
may charge a fee for this service. • After you have exchanged
You are required to pay a
promptly to reduce the risk of
contracts you will receive
reservation deposit.
delays.
a welcome letter from the developer which will detail the
PURCHASE PROCESS
• Once your Property Consultant
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•
Your first installment payment
future service they will provide
has confirmed they have
will be made when you exchange
and include all contact details.
received your paperwork, you
contracts. Your solicitor will
will need to instruct a solicitor.
inform you when they have the
Your consultant will be on hand
date for exchange providing you
to help you with this should you
with an adequate notice period,
•
Your final payment will be due when construction completes.
STAGE 1 STAGE 2 STAGE 3 STAGE 4 Reservation form and deposit of ÂŁ5,000
Solicitor instructed, legals and sales pack sent out
25% of balance on exchange of contracts within 28 days
Remaining balance due on completion of building
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We are a long-standing company,
We are one of very few companies to
founded in 1997 (a LTD company
experience ‘full market cycles’
since 2004) with an excellent reputation.
Knight Knox International has a partner network of over 200 offices
We have a large experienced team
worldwide.
of over 30 staff, with a collective property experience of more than
We sell property in over 50 countries
200 years.
worldwide and have local expertise on the ground in every location.
Knight Knox International sell over 1,000 properties a year, with a total
We cater to all types of clients, from
value of over £100 million.
first-time buyers to large investors,
why invest with kki
helping build property portfolios and
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We have exclusive market-leading
establish good income returns.
products that are hand-picked proven investments that sell in
Most of all, our clients buy with us
volume.
again and again because we’re honest, experienced, professional and market the best opportunities.
My husband and I have bought many properties now through Knight Knox International. We have a decent portfolio and will no doubt buy more properties with them over the coming years. Mr and Mrs Lowe, Hong Kong
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X1 Developments is an investment company based in the heart of Liverpool, which meets the needs of UK and overseas investors looking for an organisation that offers exceptionally high quality investments, which have been selected and overseen by individuals who have unrivalled knowledge, experience and background in the product, market sector and location. Not only does X1 Developments offer an exciting portfolio of real estate investments, but it also offers a follow-through service via its sister company X1 Lettings, which carries the same high level of expertise in order to manage and protect our clients long term investments. X1 Developments is THE Company for anyone looking to invest in Liverpool &
ABOUT THE DEVELOPER
throughout the U.K, with a track record of past developments which speaks for
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itself. Download the new X1 Developments app from the Apple Store for further details on all X1 projects, including images, movies, panoramas and detailed descriptions.
*Only available through the Apple store
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X1 Salford Quays, Phase 2, Manchester X1 Chapel Street, Manchester A brand new student accommodation development within walking distance of Manchester’s Universities, this four-floor building will contain 90 en-suite studios and 3 en-suite penthouse flats. Located in an area undergoing a huge amount of regeneration, students living at X1 Chapel Street are within 10 minutes of the city centre and close to all local facilities and amenities.
An exciting new-build development in Manchester, X1 Salford Quays is a four-storey, 60 unit apartment block that is sure to be on the radar of anyone looking to purchase a residence in the city or an investment property in this popular rental area. Investors will recieve an assured return of 6% NET yield for 5 years from completion.
Register your interest today!
Investors will receive 8% assured NET rental yields for 5 years. Completion Date: Summer 2014
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Market Leaders in Worldwide Property Investment +44 (0)161 772 1370