Sherwood Square is located close to the centre of Nottingham, the biggest business hub in the East Midlands with over 50 regional and national HQs, including Experian, Capital One and E.ON – a wealth of employers that underpins local demand from workers and young professionals. The development is a short drive from local attractions such as Nottingham Castle, and has good proximity to major road links, including the M1, A1 and A46, and a rail station that runs over 70 trains a day directly to London.
Sherwood Square comprises just 42 1 bed apartments, with completion estimated for Q4 2020 – planning pending. Furniture packs are available from £1,995 + VAT and parking spaces are available for £5,000. Prices for 1 bed apartments are £104,995 – with 18,000 annual graduates produced by the city’s two universities every year and £1 billion of investment planned to regenerate the city, the combination of a growing population of young professionals and increasingly attractive city amenities is likely to underpin capital growth. Financing is in principle available up to 70% LTV, subject to eligibility. Mortgage buyers can pay just 30% on exchange (less the reservation fee), bringing down the minimum cash investment to as little as £40,532.
While planning is not yet approved, a range of flexible payment plans make Sherwood Square an affordable way to enter the UK buy-to-let sector with a trusted developer: mortgage buyers can split the 30% deposit into monthly payments across the construction term. Cash buyers can also choose to pay off the whole sum across 2 years in 8 quarterly payments of 12.5%. Based on off-plan price growth of 6.25% and rental growth of 3%, Five Quadrant’s Financial Illustration forecasts a total ROI of 195% over 10 years.