Guild House is in an unrivalled city-centre location in the heart of the prestigious Winckley Square, a coveted green space home to Preston’s biggest firms and employers – a high demand rental area for young professionals in an economy forecast to generate an additional 20,000 jobs from 2013 to 2023.
The apartments are just 50 yards from the main retail district and 5 minutes’ walk from the mainline rail station, making it ideal for commuters embarking on the 35-minute train journey to nearby Manchester.
Guild House is a 4-storey development comprising of just 46 apartments. With more than half of the units sold and completion in Q3 2018, this is a limited opportunity to own desirable accommodation in the centre of Preston.
Prices start from £65,000 for studios, from £87,500 for 1 bed units and from £117,000 for 2 bed units. While apartments are provided unfurnished, each unit is designed with spacious interiors and white gloss kitchens offering integrated appliances.
Although no guarantee period is offered, Guild House’s premium, sought-after location means that investors can expect a high cash-on-cash income of up to 7% NET per annum. A 5-year rental void assurance is provided by the management company to assure a steady cashflow without periods of zero tenancy, which will provide ease of mind to investors seeking hands-off income.
Mortgage buyers can pay just 30% on exchange and 70% upon completion. Based on rental growth of 3% and price growth of 2.6%, Five Quadrant’s Financial Illustration calculates a total ROI of up to 218% over 10 years.