CHESTER HEIGHTS OVERVIEW A special opportunity to purchase 18 apartments in a sought-after Chester location. Consisting of 17 Studios & a One Bedroom Apartment, Chester Heights will offer investors a unique opportunity to benefit from multiple income options.
Residential Estates Kinnerton House Chester CH4 9EP 01244 343 355 Sales@Residential-Esates.co.uk Residential-Estates.co.uk
Contents
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Chester Map Transport Links Cathedral University Sports attractions
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Introduction
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Chester Events Things going on in the area
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Guestz Managment company Chester Location Leisure stays
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Corporate guests
Highlights The property What’s on offer Property perks
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Floor plan
WHY CHESTER?
Price guide
18 With its stunning beauty and unique atmosphere, Chester is one of Britain’s most popular places for an unforgettable short break. Chester has the most complete city walls, the oldest racecourse and the largest Roman Amphitheatre in Britian, plus a 1,000-year-old cathedral with Europe’s finest example of medieval carvings – and of course the one and only 700-year-old Rows galleries where shopping is a double delight. It’s convenient proximity to Liverpool, Manchester and North Wales also make it an appealing location for employees working in all these locations. It truly is a special place to live and visit.
Specifications
Investment Overview Financials Back-to-back purchase
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Developer
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Overview Contact us
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General Overview: Chester Heights The building is situated just outside the City Walls and is in a quiet, serene setting, with some fabulous views over the Welsh Hills to the West. PRIMARY These apartments are ideally situated to give any investor the option of a standard long term tenant, or to utilise the incredibly profitable short term let market, of which we are the number one supplier in Chester and a place we have been operational for the last 15 years. In that time we have built a large network of suppliers, who provide us with long term corporate lets and we also utilise the massive tourism market to “fill in the gaps”.
SECONDARY
INTRODUCTION SUMMARY
Residential Estates are proud to exclusively bring to the market Chester Heights in our home City of Chester.
LOCATION
The apartments have a stunning, large communal garden, which in the Summer will be an amazing little community area. There are also 9 car park spaces available to purchase, which is quite unique in a busy City like Chester. In total there are 18 apartments, split over 2 large and imposing houses, with 17 studios of varying sizes and a 1 one-bedroom property. All the properties will be self-contained, and they will have everything required for long or short term lets.
Founded as a Roman fortress in the 1st century A.D. It’s known for its extensive Roman walls made of local red sandstone. In the old city, the Rows is a shopping district distinguished by 2-level covered arcades and Tudor-style half-timber buildings, the one and only 700 year old Rows galleries where shopping is a double delight. A Roman amphitheatre, with ongoing excavations, lies just outside the old city’s walls. Chester has the most complete city walls, the oldest racecourse and the largest Roman Amphitheatre in Britain, plus a 1000 year old Cathedral with Europe’s finest example of medieval carvings.
Totalling 18 apartments; broken down into 17 studios and a 1 one bedroom apartment, every unit is currently let on an assured shorthold tenancy agreement. Apartments that have become available for re-let recently have been refurbished, however there are extensive plans to revitalise both the apartments and building, thus increasing rental yields throughout. Occupying a substantial plot, the current owner has ensured the landscaped gardens surrounding help add
Chester is named the most beautiful express.co.uk city in the world ...
to the buildings already natural charm.
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OFFICE LOCATION The Residential Estates office is based in Chester! Guestz, the new name for Residential Estates Bookings. With over 150 Holiday Lets, Serviced Apartments and Cottages around the UK.
RUNNING THE PROPERTY AS A SHORT TERM LET ... SERVICED ACCOMMODATION AND MANAGMENT COMPANY
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Bookings from 2 days to 12 months or more!
MANAGE WITH GUESTZ
GUESTZ
Arguably the most lucrative rental option for investors in Chester Heights is to run the properties as short term lets. This involves letting the property out on a nightly basis; be it for corporate or leisure bookings. In order to get the most out of your short term lets, it is highly recommended to use an experienced management company that have the contacts, booking portals and housekeeping already set up. This is where the recently re-branded Residential Estates short term let division, Guestz.co.uk, can help…
Perfect for businesses seeking for long term accommodation with home comforts and room to relax!
We’re based in Chester and happy to look after your investment for you. With all of our experience in the Chester market, knowing exactly how the market works, the supply and demand always in the favour of the investor and knowing it is a mature market, and one in which we excel, we could not be more confident with the success of these apartments on whichever model you opted for when it comes to deciding how to generate your revenue from the properties.
Residential Estates are not only bringing this opportunity to you, to allow you to buy, but we are also offering our full management service on either letting model so you will benefit from the total one stop shop experience.
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Chester is one of those unique locations whereby it attracts both leisure and corporate guests. Leisure We have constant requests for leisure bookings at our established properties in Chester. Guests come from a plethora of countries including – •
All European countries
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America
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Australia
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China
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Japan
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South Africa
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Brazil
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Argentina
Corporate Not all of our bookings are for leisure stays. We also have a large number of corporate stays which actually make up over 60% of our total bookings. Within close proximity are plenty of major companies. We continually take corporate bookings from the following example companies – •
Urenco
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Nestle
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Storyhouse
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HSBC
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Bank of America
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Vauxhalls
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Airbus
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Aldi
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Siemens
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Bristol Myers Squibb 8
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MAP
Links With excellent schools, low crime levels, an impressive array of shops, restaurants, cafés and bars plus the World famous Chester Zoo, Chester is perfect for those who don’t like big cities, but do want everything they need on the doorstep
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Transport Links Chester train station is a 30 minute walk from the apartments at Chester Heights, or just a 5 minute drive. Bache train station is also close enough to walk being only 25 minutes away, or a 4 minute drive. Both of these trains stations have a direct link to Liverpool which is only 30 minutes away by train. Driving to Manchester would be a 50 minute journey. The apartments are perfectly located with Manchester, Liverpool and North Wales on your doorstep.
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Cathedral Chester Cathedral and the City Walls, are two firm favourites with visitors looking to immerse themselves in the rich cultural history of the city and both are just a 5/10 minute walk from the apartments.
Click here to find out more about this properties location.
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University The University of Chester is only 0.7m distance away. Only a 12 minute stroll to the main campus. Chester is a small city packed with charm, thanks to its long history which has been preserved. It’s perfect for students who want something a bit more low-key as it’s more of a big town than a big city.
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Chester Heights, Whipcord Lane, Chester, Cheshire, CH1 4DJ
Sports Chester Golf Club only 0.9m, a short 20 minute walk away or a 10 minute drive. Chester Racecourse is a mere 0.6 miles away, making it a 15 minute stroll to one of Chester’s premier social hubs, hosting a wide array of events. Chester Football Club is conveniently situated just 1.2 miles away, ensuring a quick 4 minute drive for any football enthusiast to immerse themselves in the game day experience. Residential-Estates.co.uk
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Things going on in the area
CHESTER EVENTS
Chester stands as a distinguished historical heritage city renowned worldwide for its captivating past and vibrant present. Enclosed within its ancient city walls, this city boasts a treasure trove of events and attractions that celebrate its rich legacy. From the awe-inspiring Roman Amphitheatre to the stunning Gothic beauty of Chester Cathedral, visitors can embark on a journey through time.
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The iconic Chester Rows, a distinctive shopping experience, showcases medieval charm, while the annual Chester Heritage Festival and Literature Festival bring history and culture to life. With its enthralling mix of history and contemporary vibrancy, the ancient city walls encompass a world of exploration and discovery.
SOLDIER SCHOOL
HERITAGE DISCOVERY
KING CHARLES’ TOWER
History & Heritage
History & Heritage
Open Day
The Roman Legion needs you!
Discover Chester Cathedral
learn what it was like living as a soldier in the Roman City almost 2000 years ago.
Explore the infamous Tudors in Chester.
Walk around Walls.
Chester
Venture Tower.
King
into
City
Charles’
Chester, one of the world’s historical heritage gems, boasts a remarkable blend of antiquity and liveliness within the confines of its ancient city walls. These centuries-old fortifications, originally built by the Romans, cradle a city that breathes history at every corner.
CHESTER RACES
GHOST HUNT TOUR
MUSEUM AFTER DARK
Sporting Event
Guided Walk
Guided Tour
The Autumn Festival held at the world’s oldest racecourse. Always followed by the famous Ladies day. A day women dress to impress at the racecourse.
Stanley Palace hosts a guided tour of Chesters most haunted home. Along with a ghost history tour of Chester City Centre.
Torch-led tour of the Roman stones gallery.
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THE PROPERTY 2 impressive adjoining freehold blocks in a popular area of Chester. 18 apartments in total 17 Studios and a One Bedroom Apartment Planned refurbishment works to be carried out internally and externally. 250 Year Lease
DEVELOPMENT HIGHLIGHTS MAIN FEATURES & SPECIFICATIONS
WHATS ON OFFER Studios from £75,000 & the One Bed at £140,000 Full Address: Chester Heights, Whipcord Lane, Chester, Cheshire, CH1 4FE Peppercorn Ground Rent Short Term Lets allowed in the lease
Although recently the apartments have been used by tenants, the developer will improve and renovate them to their usual high standards. Image for display purposes only
This will include improving kitchens, bathrooms and a full redecoration to ensure the apartments are fit to attract a higher rent on both a long and short term let basis. You can request a full list of specifications from our
PROPERTY PERKS 9 Car park spaces available to purchase Large, landscaped communal gardens Views over to North Wales and Chester City centre Multiple Income revenue streams (Short Term lets, Long term lets, Student Rentals etc)
expert consultants.
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Pricing Guide Floor Plans STUDIO APARTMENTS
Image for display purposes only
From
£ 75000
Standard Studios (15sqm to 19sqm) – 4 Units £75,000
ONE BED APARTMENT
£ 140000 One Bed (43sqm) – 1 Unit £140,000
Medium Studios (20sqm to 27sqm) – 9 Units £80,000 to £90,000 Large Studios – (32sqm to 36sqm) – 4 Units £95,000 to £105,000
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GROUND FLOOR
FIRST FLOOR
SECOND FLOOR
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4 Medium Studios
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1 Standard Studio
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3 Standard Studios
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2 Large Studios
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2 Medium Studios
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3 Medium Studios
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2 Large Studios
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1 One Bed
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Investment Overview ALL THE LITTLE DETAILS
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FINANCIALS As an STL (Short Term Rental) ... •
Studio Nightly rates anticipated between £55 and £70 per night dependant on size
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1 Bed predicted at £90 per night
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We currently average 81% occupancy across our Chester short term let properties
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NET Yields projected around 11%
As an AST (Long Term Rental) ... •
Standard Studio is £500pcm to £525pcm
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Medium Studio is £600pcm to £625pcm
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Large Studio is £700pcm to £725pcm
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One Bedroom apartment is £800pcm to £850pcm
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BACK TO BACK PURCHASE Back-to-back purchases upon completion Buyers will complete on the site at 85% of the purchase price with the developer who has an option on the building. They then receive the current tenancy rents in there up until vacant possession is achieved. A further 7.5% of the purchase price is then due. Refurbishment works are then completed and the final 7.5% is then payable.
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Payment Plan: •
£500 Reservation Fee & £3,000 Deposit.
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85% of the purchase price minus the deposit
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7.5% due on Vacant possession
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7.5% due on refurbishment works completion.
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04 DEVELOPER
Glendale House - Lytham St. Annes
Previous development
Click here to hear about the developers
A CLOSER LOOK
Previous development GAINSBOROUGH 7 LIMITED Experienced developers Marc Levy and Neil Whitely have continued their partnership with this latest edition to their growing development portfolio. They specialise in finding sites in areas of great rental demand that require work to get it to its full potential. They have worked alongside Residential Estates in 3 previous developments using the same model. These range from a Mill conversion in Settle to Holiday lets in Lytham- St Annes.
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Bridge End Mill - Settle Residential-Estates.co.uk
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OVERVIEW Contact Us
If you would like to discuss this oportunity further, why not book a free consulation call with one of our experts today.
Address Residential Estates, Kinnerton House, Bell Meadow, Chester, CH4 9EP
Phone
Book a FREE consulation call
01244 343 355
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Residential Estates Kinnerton House Chester CH4 9EP 01244 343 355 Sales@Residential-Esates.co.uk Residential-Estates.co.uk
THANK YOU!