15 minute read
Winckley House Apartments Preston City Centre From £69,999
WINCKLEY HOUSE
Advertisement
Developer’s
About
4Previous Schemes
24
Why Preston?
6FAQ
25UCLan
8Investment Summary
10WINCKLEY HOUSE
Location
Specification
12
14
Rental Market16
Investment Example18
Floorplans20
Apartment CGI's
22
2 3
ABOUT
W
e would like to introduce Winckley House, a
stunning brand-new investment opportunity ina prime location, with exclusive discounts of up to 20%.
Located directly in the city centre of Preston with viewsover the historic Winckley Square, currently undergoinga £1m redevelopment, Winckley House is theperfect solution for young professional tenants workingin the city, with all local amenities right on its doorstep.
The regeneration of the beautiful GeorgianWinckley Square and the surrounding district is making ita historical yet vibrant visual, cultural andintellectual outdoor
Outstanding accommodation in a world-class university city.
experience, bringing delight to the people of Prestonand visitors alike.
The six storey office conversion comprises a total of 76luxurious high specification apartments, and will featurebeautiful fitted kitchens with oven, hob & extractors,laminate and carpeted flooring, full tiled bathroomsand will be secured by a 10 year CRL warranty.
With the city’s shopping district and restaurants right onthe doorstep, tenants will love its amazing centrallocation, with the bus and train stations also just a shortwalk away, offering speedy commutes into bothManchester and Liverpool.
76
LUXURY HIGH
SPECIFICATION FLATS
10
YEAR CRLWARRANTY
WINCKLEY SQUARE
20%
7.1%*
NET YIELD (UP TO)
* Based on a cash purchase
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
4 5
T
he Guild City of Preston lies in the heart of
Lancashire and has a population of approximately140,000. It traces its history back nearly 1,000 years and is a modern multicultural city built on the solid foundations of the industrial revolution.
Preston boasts two large modern indoor shopping malls in the form of St. Georges and Fishergate, and 2 large retail parks.
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 for meeting certain environmental responsibilities and the Carbon Trust Standard.
Preston is a medium-sized city and the administrativecentre of Lancashire, a county with a £25.5 billioneconomy that supports nearly 650,000 jobs. Equippedwith a competitive cost base and good location nearto Manchester and Liverpool, Preston is the engineroom of Lancashire’s economy and one of thelargest local economies in the north of the UK. Theregion is important to the country’s agricultural,nuclear and advanced manufacturing sectors, withleading local employers including:
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 GROUPEDF & WEST ERLING ELECTRIC COMPANY (FORMERLY BNLF)
LEYLAND TRUCKS - ONE OF BRITAIN’S LEADING MANUFACTURING COMPANIES
The enterprising economic culture of Preston and Lancashire creates a fertile investment environment and Preston makesa significant contribution to national performance:
3RD BEST PERFORMING CITY IN THE UK FOR PRIVATE SECTOR GROWTH IN THE DECADE LEADING UP TO 2008THE 6TH TOP PERFORMING CITY FOR GROWTH IN 2013 - GOOD CITIES FOR GROWTH INDEX
ATTRACTED MORE OVERSEAS INVESTMENT IN THE FIRST QUARTER OF THAT YEAR THAN ANYWHERE IN THE UK OUTSIDE OF THE CAPITAL
Preston has been reinventing itself since 1179 and continues to do so. With thegovernment’s economic strategy using cities to drive regional growth, it received anenormous boost to its economic growth aspirations with the recent announcement of thePreston, South Ribble, and Lancashire City Deal:
£430 MILLION DIRECTLY INVESTED INTO CENTRAL LANCASHIREEXPANSION OF TRANSPORT AND BUSINESS INFRASTRUCTURE AROUND PRESTONCREATION OF 20,000 NEW JOBS AND 17,000 NEW HOMESSTIMULATING 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:
140,000POPULATION
WHY PRESTON?
£25.5 BILLION ECONOMY
BAE’S £12.4 MILLION INVESTMENT PROGRAM AT THE LANCASHIRE ENTERPRISE PARK
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
6 7
T
he University of Central Lancashire (UCLan) was
founded in 1828, when it was known as theInstitution for the Diffusion of Knowledge.
The university offers in the region of 500 undergraduateand 200 postgraduate courses. It is a leading seatof learning in terms of developing degrees inthe emerging disciplines of fashion, forensics,journalism, and sporting science. It continues to beinstrumental in creating career prospects in theprofessions of architecture, astrophysics, andpharmacy. UCLan has also launched the first newSchool of Dentistry in the UK in over a century andits researchers are working with NASA on a projectthat is photographing the sun.
LARGE DEVELOPMENT INITIATIVES
UCLan has recently spent £100 million upgrading itsbuildings, teaching technology and sporting facilities.
A further indication of its ambition, the university inearly 2017 also announced proposals for theinvestment of a further £200 million that willcomprehensively transform its Preston campus over thenext 10 years. This includes:
A £30 MILLION ENGINEERING INNOVATION CENTRELANDSCAPING OF THE CAMPUS AND SURROUNDING AREADEVELOPMENT OF STUDENT FACULTY BUILDINGSIMPROVING ROADS ON AND AROUND THE CAMPUS
STUDENT LIFE IN UCLAN AND PRESTON
The student body at UCLan totals approximately 30,000students per annum. Because of its high standing in theworld university community, UCLan is the chosen seatof learning for international students from 120 differentcountries and the university works to promote a healthy,proactive, multicultural environment.
UCLan has a distinguished global reputation.
UCLAN
UCLan is the 8th largest university in the UK but its student population is critically undersupplied by its halls of residence accommodation. The available 2,200 beds are consequently limited to first year students.
Preston is an excellent city for students. Although small by some city standards (the total population is 140,000) the fact that 32,000 students study at UCLan means that students are a large part of everyday life in the city. Students are welcomed with open arms as an 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.
30,000
STUDENTS
8 9
76 high specification off plan apartments
Complete November 2018
Up to 7.1% net yields
Prime central location
Contemporary design and highspecificationfinishes throughout
Perfect for young professional tenantsworking in city centre or commutingto Manchester
INVESTMENT SUMMARY
1 0
11
10
MINUTE WALK TO
UCLAN CAMPUS
2
MINUTE WALK TO MAIN SHOPPING DISTRICT
0.40.2 41
MILES TO TRAIN STATION
MILES TORESTAURANTS
2.8
MILES TO M6 MOTORWAY
MINUTESTO MANCHEST ER BY TRAIN
WINCKLEY HOUSE
LOCATION
1 2
Six storey development with lift10 year CRL warrantyLaminate flooring in living areasCarpeted bedroomsFully tiled bathroom
Full finish kitchen with oven, hob & extractor, washer/dryer and fridge freezer
Stunning views across Winckley Square
SPECIFICATION
1 4
15
V
RENTAL
oted the best city in north west England
in which to live and work, Preston recentlybeat both Manchester & L iverpool in an assessment ofthe UK’s largest cities that measured economicsuccess and personal wellbeing.
The index, produced by PricewaterhouseCoopers (PwC)and the thinktank Demos, showed the city perfomingextremely well in all ten categories including jobs,income, work-life balance, transport, skills, environmentand the house price to earnings ratio.
With over 21% of the city’s population made up ofstudents, many of whom settle after graduating, thereis a huge rental demand for high qualityaccommodation in the city centre, which cannot besatisfied by current supply.
Winckley House has been evaluated by both Prestonbasedand nationwide lettings agents in regards to itsrental potential, and all were extremely positive andconfident in its future performance.
MARKET
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.
Apartments in this area are always in high demand from professional and corporate tenants.
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.
MATT EASTHAM PRESTON-BASED LETTING AGENT
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.
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.
JONATHAN RUDD HEAD OF PROPERTY MANAGEMENT, CHERISH PROPERTY
C
herish property are the preferred letting agent for
Winckley House. Developed from the ground up,they are focused on optimising returns for propertyinvestors.
Their property management services cover all aspectsof letting and maintaining your property. They arefully accredited by national and local agenciesincluding The Property Ombudsman.
Cherish Property specialise in managing buy-to-letresidential investment properties and their knowledgeand services provide landlords with confidence that theirinvestment is in good hands.
Their service is all encompassing and covers everythingany landlord or investor needs: pre-purchase advice,furnishings, handover, lettings, management, accounts,tax advice and returns.
EXCLUSIVE DISCOUNTED RATE FOR WINCKLEY HOUSE 9% + VAT OF RENT ACHIEVED
Market research to achieve best rentMarketing to potential tenants BackgroundChecks on tenantsCollection and payments of rentsDay-to-day managmentAgreement of safety checks and certificatesAccess to partner servicesMaintenanceRental GuaranteeInventory taken
1 6
1 7
INVESTMENT EXAMPLES
1-BEDROOM APARTMENT - CASH PURCHASE EXAMPLE
RE PriceRE FeeDepositService Charge & Ground RentRental IncomeCash Positive in Year 1Cash Positive Per Month GrossGross YieldNet Yield
£90,000£500£22,500£350 pa + £552 pa£600 pm£6298*£525**8%
7% ***
* 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
1-BEDROOM APARTMENT - MORTGAGE / FINANCE EXAMPLE
RE PriceRE FeeDepositService Charge & Ground RentRental IncomeMortgage Rate & LTVMortgage CostsCash Positive in Year 1Cash Positive Per MonthGross YieldNet YieldReturn on Investment
* 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
£90,000£500£22,500£350 pa + £552 pa£600 pm2.29% @75% LTV*£128 pcm£4762**£397***8%5.3%****21.1%*****
1 8
1 9
TYPICAL TWO-BED APARTMENT – 54m² TYPICAL ONE-BED APARTMENT – 40m²TYPICAL STUDIO – 39m²
Typical 2 Bed Apartment 54m²
Typical 2 Bed Apartment 54m²
Typical 1 Bed Apartment 40m²
Typical 1 Bed Apartment 40m²
Typical 1 Bed Studio 39m²
Typical 1 Bed Studio 39m²
Typical 2 Bed
APARTMENT FLOORPLANS
2 0
2 1
TYPICAL TWO-BED APARTMENT CGI
TYPICAL ONE-BED APARTMENT CGI
TYPICAL STUDIO CGI
APARTMENT FLOORPLANS
2 2
2 3
DEVELOPER’S PREVIOUS
L
SCHEMES
aunched in 2016, Archer House is an outstanding developmentlocated in the heart of Stockport town centre, within the town’sbusiness district.
Archer House is a refurbishment development project which converteda brick built, former office building, constructed approximately 10years ago for Her Majesty’s Revenue and Customs department, into 75contemporary town centre apartments.
The apartment interiors are white, bright, with spacious rooms, manyhave fabulous urban views across the town centre. White gloss fittedkitchens with high end touches and integrated appliancescombine to provide contemporary and practical livingaccommodation. Each bedroom is a double sized room andwhite bathroom suites with modern fixtures and fittingscomplete the amazing ‘chic’ looking apartments.
“We really cannot enthuse enough over the location of this development and its potential as future investment”.
IS THE DEVELOPMENT NEW-BUILD?
No. It’s a conversion of a building previously used as office space.
WHEN WILL THE BUILDING BE COMPLETE?
November 2018.
AM I BUYING LEASEHOLD OR FREEHOLD?
125 year leasehold.
ARE THERE ANY RESTRICTIONS TO SELL?
No. Once you have completed on the purchase you are free to sell your unit on the open market using any estate agent.
F A Q
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?
A 25% deposit will be due 28 days after receipt of contracts by client’s solicitor.
IS MY DEPOSIT PROTECTED?
Yes. Details of this will be in the contract issued by your solicitor.
2 4
ARCHER HOUSE INVESTOR
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.
