Winckley House Apartments Preston City Centre From £69,999

WINCKLEY HOUSE

Developer’s

WINCKLEY HOUSE

2

About

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Previous Schemes

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Why Preston?

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FAQ

25

UCLan

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Investment Summary

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Location

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Specification

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Rental Market

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Investment Example

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Floorplans

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Apartment CGI's

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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.

5

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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1 9

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.