Wakefield
Grosvenor House
IdealInvestmentOpportunity
Prices from £99,500, Studios & 1 Beds
Perfectly located in the heart of Wakefield, this small development is set to be charismatically converted to provide investors with lucrative returns in a location that very much on the rise in part, due to its very close to proximity to Leeds. The central apartments have been specifically designed to attract the professional tenant or to take advantage of the very strong short term let market, which is always suited to locations when investment is being pumped into the area, such as Wakefield that has got a good 15-20 year Masterplan.
Wakefield has all the similarities to Preston – just on the other side of the Pennines, great transport links and the fact it is very much a part of the growth of Leeds, makes it very appealing to local businesses and commuters.
• Conversion of an office, designed to suit modern living with 44 apartments.
• Mixture of large studios and 1 bedroom.
• Residential Estates to manage.
• Completion end of March.
• 250 Year Lease.
• Peppercorn ground rent.
• Property Data shows a 21% increase over the last 5 years.
• Short Term lets allowed in the lease for JUST our allocation – amended lease.
•1 Bed nightly rates predicted between expected £85 per night.
•AST for a 1 bed circa £650-£700
•AST for a large studio £550 - £650
•On 75% occupancy we expect 11-11.5% NET AFTER service charges.
• Cash Only but no reason why re mortgages are not viable.
•10 year warranty with ARK.
•15% Exchange and completion or both to be simultaneous – dependent on solicitor speed.