Caxton Hall [SOLD OUT]

Keywords : United Kingdom

Sold Out

With an increasing population of 2.8 million, Manchester is one of the UK’s fastest growing cities, with businesses and people flocking to the area. The city boasts an average investment yield of 6.7% – the highest in the country (HSBC, 2016).
Salford, in Greater Manchester, is a key part of that growth. It is home to the new MediaCityUK, which is a hub for the BBC and ITV and a major driver of employment. The area is one of the favourite places for Channel 4 to move its HQ when the broadcaster relocates outside of London, which would bring hundreds of staff, and their families, to the city, boosting the thriving buy-to-let market.
A sensitive conversion of a period building into boutique apartments, Caxton Hall is a unique opportunity to enter the rental market in Salford, where rents have risen 4.9% in the year to September 2017 (Valuation Office Agency). Built in 1904 for the Typographical Society of Manchester, the historic building will be redeveloped into 23 high-end units, combining period architecture with modern conveniences. The apartments offer a spacious combined kitchen and living area with premium finishes and furnishings, as well as CCTV surveillance and intercom entry system.The interiors will include fully integrated Baumatic appliances in the kitchen (with oak effect flooring), flexible storage arrangements, en-suite white bathroom suites with chrome taps and mixers, and optional luxury furniture packs. Located close to the Lowry Hotel and Manchester Deansgate, Caxton Hall’s central position is unbeatable and ideal for young professionals seeking premium accommodation.
Investors can earn 9% NET yield, with a 2-year rental guarantee for those who purchase a furniture pack. Cashflow is as high as 8.37% in year 1, with a forecast total ROI of 98% over 10 years. Only studios are left available, priced at £120,000, with 50% due on exchange (plus optional furniture pack costs) and 50% due on completion (minus the reservation fee).
Investment Highlights
– Studio apartments in Manchester, UK
– Period building in central location
– 9% NET yield, guaranteed for 2 years
– Prices from £120k, with 50% on exchange
– Reserve for only £2,500

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