WINCKLEY HOUSE
Developer’s
WINCKLEY HOUSE
2
About
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Previous Schemes
24
Why Preston?
6
FAQ
25
UCLan
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Investment Summary
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Location
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Specification
14
Rental Market
16
Investment Example
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Floorplans
20
Apartment CGI's
22
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76
ABOUT Outstanding accommodation in a world-class university city.
LUXURY HIGH SPECIFICATION FLATS
10 YEAR CRL
20% 7.1%* NET YIELD (UP TO) * Based on a cash purchase
WA R R A N T Y
W
e would like to introduce Winckley House, a
experience, bringing delight to the people of Preston
stunning brand-new investment opportunity in
and visitors alike.
WINCKLEY SQUARE
a prime location, with exclusive discounts of up to 20%. The six storey office conversion comprises a total of 76 Located directly in the city centre of Preston with views
luxurious high specification apartments, and will feature
over the historic Winckley Square, currently undergoing
beautiful fitted kitchens with oven, hob & extractors,
a
ÂŁ1m
redevelopment,
Winckley
House
is
the
perfect solution for young professional tenants working
laminate and carpeted flooring, full tiled bathrooms
Winckley House overlooks Winckley Square, which was once an exclusive residential area, but now is a conservation area of great beauty, superb architecture and is described as a hidden gem in the heart of Preston. Read more here: http://www.prestonguildcity.co.uk/visit/things-to-do-in-preston/outdoor-andadventure/parks-and-gardens/winckley-square
and will be secured by a 10 year CRL warranty.
in the city, with all local amenities right on its doorstep. With the city’s shopping district and restaurants right on The
regeneration
Georgian
the doorstep, tenants will love its amazing central
Winckley Square and the surrounding district is making it
location, with the bus and train stations also just a short
a
walk away, offering
historical
yet
intellectual outdoor
4
of vibrant
the
beautiful visual,
cultural
and
speedy
commutes
into
both
Manchester and Liverpool.
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T
he Guild City of Preston lies in the heart of
Preston is a medium-sized city and the administrative
The enterprising economic culture of Preston and Lancashire creates a fertile investment environment and Preston makes
Lancashire and has a population of approximately
centre of Lancashire, a county with a £25.5 billion
a significant contribution to national performance:
140,000. It traces its history back nearly 1,000 years and is a
economy that supports nearly 650,000 jobs. Equipped
modern multicultural city built on the solid foundations of
with a competitive cost base and good location near
the industrial revolution.
to Manchester and Liverpool, Preston is the engine
THE 6TH TOP PERFORMING CITY FOR GROWTH IN 2013 - GOOD CITIES FOR GROWTH INDEX
room of Lancashire’s economy and one of the
ATTRACTED MORE OVERSEAS INVESTMENT IN THE FIRST QUARTER OF THAT YEAR THAN ANYWHERE IN THE UK OUTSIDE OF THE CAPITAL
Preston boasts two large modern indoor shopping malls
largest local economies in the north of the UK. The
in the form of St. Georges and Fishergate, and 2 large
region is important to
retail parks.
nuclear and advanced manufacturing sectors, with
the
country’s
agricultural,
leading local employers including: Preston has recently won Avenham Park’s Green Flag award,
which recognises and rewards the best parks
and green spaces across the country. The Guild Wheel, a scenic 21-mile cycling greenway, connects the city to the picturesque Lancashire countryside, while the Lake District is also close by. UCLan is one of only 5 universities in the UK to hold both ISO14001 certification responsibilities
for
meeting
certain
environmental
and the Carbon Trust Standard.
UCLAN - THE BIGGEST EMPLOYER IN PRESTON BAE SYSTEMS - THE FOURTH LARGEST GLOBAL DEFENCE CONTRACTOR ERIC WRIGHT CONSTRUCTION - A KEY PLAYER IN THE BUILDING INDUSTRY INBEV - A MULTINATIONAL BREWERY GROUP EDF & WEST ERLING ELECTRIC COMPANY (FORMERLY BNLF) LEYLAND TRUCKS - ONE OF BRITAIN’S LEADING MANUFACTURING COMPANIES
WHY PRESTON?
3RD BEST PERFORMING CITY IN THE UK FOR PRIVATE SECTOR GROWTH IN THE DECADE LEADING UP TO 2008
Preston has been reinventing itself since 1179 and continues to do so. With the government’s economic strategy using cities to drive regional growth, it received an enormous boost to its economic growth aspirations with the recent announcement of the Preston, South Ribble, and Lancashire City Deal: £430 MILLION DIRECTLY INVESTED INTO CENTRAL LANCASHIRE EXPANSION OF TRANSPORT AND BUSINESS INFRASTRUCTURE AROUND PRESTON CREATION OF 20,000 NEW JOBS AND 17,000 NEW HOMES STIMULATING A FURTHER £2.3 BILLION WORTH OF LOCAL INVESTMENT
Preparations have already begun to catalyse economic growth in Preston. The building blocks for further growth include:
140,000 POPULATION
BAE’S £12.4 MILLION INVESTMENT PROGRAM AT THE LANCASHIRE ENTERPRISE PARK
£25.5
BILLION ECONOMY
LANCASHIRE ENTERPRISE ZONE – WILL ATTRACT 13,000 HIGH VALUE JOBS AND BE ONE OF THE LARGEST MANUFACTURING HUBS IN EUROPE EUROPEAN SOCIAL FUND TRAINING PROGRAMME FOR 4,000 YOUNG LOCAL SME EMPLOYEES LANCASHIRE GROWTH HUB - A SPECIALIST BUSINESS ADVICE CENTRE UCLAN’S 36,000 STRONG COMMUNITY OF STUDENTS AND PROFESSIONALS, CONTRIBUTING £300 MILLION TO THE LOCAL ECONOMY ANNUALLY
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7
T
he University of Central Lancashire (UCLan) was
A further indication of its ambition, the university in
founded in 1828, when it was known as the
early
Institution for the Diffusion of Knowledge.
2017
investment
also of
announced
a further
proposals
for
the
million
that
will
£200
UCLAN
comprehensively transform its Preston campus over the The university offers in the region of 500 undergraduate and 200 postgraduate courses. It is a leading seat of learning
in
terms
the emerging
of
developing
disciplines
of
degrees
fashion,
in
forensics,
next 10 years. This includes: A £30 MILLION ENGINEERING INNOVATION CENTRE LANDSCAPING OF THE CAMPUS AND SURROUNDING AREA
journalism, and sporting science. It continues to be
DEVELOPMENT OF STUDENT FACULTY BUILDINGS
instrumental in creating
IMPROVING ROADS ON AND AROUND THE CAMPUS
professions pharmacy.
of UCLan
career
architecture,
prospects
in
astrophysics,
the and
has also launched the first new
School of Dentistry in the UK in over a century and its researchers are working with NASA on a project that is photographing the sun. LARGE DEVELOPMENT INITIATIVES
UCLan has recently spent £100 million upgrading its buildings, teaching technology and sporting facilities.
STUDENT LIFE IN UCLAN AND PRESTON
UCLan is the 8th largest university in the UK but its student population
The student body at UCLan totals approximately 30,000
is critically undersupplied by its halls of residence accommodation. The
students per annum. Because of its high standing in the
available 2,200 beds are consequently limited to first year students.
world university community, UCLan is the chosen seat of learning for international students from 120 different
Preston is an excellent city for students. Although small by some
countries and the university works to promote a healthy,
city standards (the total population is 140,000) the fact that 32,000
proactive, multicultural environment.
students study at UCLan means that students are a large part of
UCLan has a distinguished global reputation.
everyday life in the city. Students are welcomed with open arms as an
30,000 STUDENTS
important part of the city’s modern heritage, and a major contributor to its booming economy. With a strong sense of ethnic diversity, student social life is spread throughout the city, underpinned by the success of the local economy, boosted by the recent injection of capital from the Preston and Lancashire City Deal. There are plenty of great open green spaces in Preston, and the Guild City also has two markets; the outdoor (covered) market at Market Street, and the indoor market at Liverpool Street.
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76 high specification off plan apartments Complete November 2018 Up to 7.1% net yields Prime central location Contemporary design and highspecification finishes throughout Perfect for young professional tenants working in city centre or commuting to Manchester
INVESTMENT SUMMARY 1 0
11
10
M I N U T E WA L K TO UCLAN CAMPUS
0.2 M I L E S TO
RESTAURAN TS
2
M I N U T E WA L K T O MA I N SHOPPING DISTRICT
0.4 MILES TO TRAIN STATION
2.8
M I L E S T O M 6 M O T O R WA Y
41
MINUTES TO
MANCHEST ER BY TRAIN
WINCKLEY HOUSE
LOCATION 1 2
Six storey development with lift 10 year CRL warranty Laminate flooring in living areas Carpeted bedrooms Fully tiled bathroom Full finish kitchen with oven, hob & extractor, washer/dryer and fridge freezer Stunning views across Winckley Square
SPECIFICATION
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RENTAL MARKET V
oted the best city in north west England in which to live and work, Preston recently
beat both Manchester & Liverpool in an assessment of the UK’s largest
cities
that
measured
economic
success and personal wellbeing. The index, produced by PricewaterhouseCoopers (PwC) and the thinktank Demos, showed the city perfoming extremely well in all ten categories including jobs, income, work-life balance, transport, skills, environment and the house price to earnings ratio. With over 21% of the city’s population made up of a
huge
rental
demand
for
high
I’m extremely confident in beng able to achieve rents of £750 pcm for 2 bedroom apartments, £600 pcm for 1 beds, and £470 pcm for studios.
This is a fantastic opportunity for investors to own an apartment on the stunning, Georgian, Winckley Square – one of the finest examples of a Georgian Square in the North of England.
JONATHAN RUDD HEAD OF PROPERTY MANAGEMENT, CHERISH PROPERTY
Apartments in this area are always in high demand from professional and corporate tenants.
C
Having assessed the development and its floor plans and finishes we are confident this will be the most sought after development on the square with rents of £750 pcm being achieved for the 2 bedroom apartments, £600 pcm for the 1 bedroom apartments and £470 pcm for the studio apartments.
they are focused on optimising returns for property
students, many of whom settle after graduating, there is
These apartments are in a perfect location, just two minutes from the train station and city centre, with its huge selection of bars, restaurants and shops.
herish property are the preferred letting agent for Winckley House. Developed from the ground up,
investors.
Market research to achieve best rent
Their property management services cover all aspects
Marketing to potential tenants Background
of letting and maintaining your property. They are fully
accredited
by
national
and
local
agencies
satisfied by current supply.
MATT EASTHAM PRESTON-BASED LETTING AGENT
Collection and payments of rents
Cherish Property specialise in managing buy-to-let
Day-to-day managment
residential investment properties and their knowledge and services provide landlords with confidence that their
Winckley House has been evaluated by both Preston-
Checks on tenants
including The Property Ombudsman.
quality
accommodation in the city centre, which cannot be
EXCLUSIVE DISCOUNTED RATE FOR WINCKLEY HOUSE 9% + VAT OF RENT ACHIEVED
investment is in good hands.
based and nationwide lettings agents in regards to its rental potential, and all were extremely positive and
Their service is all encompassing and covers everything
confident in its future performance.
any landlord or investor needs: pre-purchase advice,
Agreement of safety checks and certificates Access to partner services Maintenance Rental Guarantee
furnishings, handover, lettings, management, accounts, tax advice and returns.
1 6
Inventory taken 1 7
INVESTMENT EXAMPLES
1-BEDROOM APARTMENT - MORTGAGE / FINANCE EXAMPLE
1-BEDROOM APARTMENT - CASH PURCHASE EXAMPLE
RE Price
Winckley House, Preston
Sixth Floor Plan
£90,000
RE Fee
£500
Deposit
£22,500
Service Charge & Ground Rent
£350 pa + £552 pa
Rental Income
£600 pm
Cash Positive in Year 1 Cash Positive Per Month Gross
£6298* £525**
Gross Yield
8%
Net Yield
7% ***
Floor
Studio
1 Bed
RE Price
£90,000
RE Fee
£500
Deposit
£22,500
Service Charge & Ground Rent
£350 pa + £552 pa
Rental Income
£600 pm
Mortgage Rate & LTV
2.29% @75% LTV*
Mortgage Costs
£128 pcm
Cash Positive in Year 1
£4762**
Cash Positive Per Month
£397***
Gross Yield
8%
Net Yield
5.3%****
Return on Investment
21.1%*****
2 Bed
Basement
-
-
-
Ground
02
03
03
First
02
09
03
Second
02
09
03
Third
02
09
03
Fourth
02
09
03
Fifth
00
06
00
Sixth
00
06
00
Total Units: 76
* All deductions taken out apart from standard management fees ** All deductions taken out apart from standard management fees ***Based on all the above assumptions deducted
* Conservative interest rates quoted, be aware fees can vary ** All deductions taken out apart from standard management fees *** All deductions taken out apart from standard management fees ****Based on all the above assumptions deducted ***** Based on 25% cash deposit
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TYPICAL TWO-BED APARTMENT – 54m²
Typical 2 Bed Apartment 54m²
Typical 2 Bed Apartment 54m²
2 0
TYPICAL STUDIO – 39m²
TYPICAL ONE-BED APARTMENT – 40m²
Typical 2 Bed Apartment 54m²
Typical 1 Bed Apartment 40m²
Typical 1 Bed Apartment 40m²
Typical 1 Bed Apartment 40m²
Typical 1 Bed Studio 39m²
Typical 1 Bed Studio 39m²
Typical 1 Bed Studio 39m²
APARTMENT FLOORPLANS 2 1
TYPICAL TWO-BED APARTMENT CGI
TYPICAL ONE-BED APARTMENT CGI
TYPICAL STUDIO CGI
APARTMENT FLOORPLANS 2 2
2 3
F A Q
DEVELOPER’S PREVIOUSL SCHEMES
aunched in 2016, Archer House is an outstanding development located in the heart of Stockport town centre, within the town’s business district.
Archer House is a refurbishment development project which converted a brick built, former office building, constructed approximately 10
IS THE DEVELOPMENT NEW-BUILD?
years ago for Her Majesty’s Revenue and Customs department, into 75 No. It’s a conversion of a building previously used as
contemporary town centre apartments.
office space. The apartment interiors are white, bright, with spacious rooms, many have fabulous urban views across the town centre. White gloss fitted
WHEN WILL THE BUILDING BE COMPLETE?
kitchens with high end touches and integrated appliances combine
to
provide
contemporary
and
practical
living
November 2018.
accommodation. Each bedroom is a double sized room and white
bathroom
suites
with
modern
fixtures
and
fittings
AM I BUYING LEASEHOLD OR FREEHOLD?
complete the amazing ‘chic’ looking apartments.
“We really cannot enthuse enough over the location of this development and its potential as future investment”.
IS FINANCE AVAILABLE?
Yes, subject to status. Applications for mortgages should be submitted no earlier than six months prior to the completion of the building. We will inform you when you should start your mortgage application. WHAT IS THE AMOUNT OF DEPOSIT DUE AT EXCHANGE OF CONTRACTS?
125 year leasehold. A 25% deposit will be due 28 days after receipt of ARE THERE ANY RESTRICTIONS TO SELL?
contracts by client’s solicitor.
No. Once you have completed on the purchase you are
IS MY DEPOSIT PROTECTED?
free to sell your unit on the open market using any estate agent.
Yes. Details of this will be in the contract issued by your solicitor.
ARCHER HOUSE INVESTOR 2 4
2 5
Whilst every care has been taken to ensure accuracy this cannot be guaranteed and precise details may vary. These particulars are intended as a guide only. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. We reserve the right to alter any specifications
without prior notice. Images of the properties are computer generated.
