Description

INVESTMENT OPPORTUNITY Blades Street – Lancaster 6 bed, 6-bathroom Set of Three Apartments Blades Street Apartments - Financial Breakdown – 6 Bedroom – 6 Bathrooms Purchase Price: £200,000.00 Deposit: £58,550.00 (includes 6 months interest for bridging loan) Conversion/Build: £127,474.88* approx. (subject to further onsite visits) Set up costs/ Design & Build Fees - £30,000.00 Legals Estimate - £4,000.00 Planning: £3,500.00 Stamp duty - £11,500.00 Survey - £2,500.00 Furniture and flooring packs can be purchased at an additional cost - £20,000.00 Total Project Cost: £407,574.88 (includes 6 months interest for bridging loan) Total Cash Outlay: £257,524.88 (includes 6 months interest for bridging loan) Projected Rental Income: £110.00 PPPW net of bills (water, gas, electricity) x 6 = £34,320 per annum Management: £4,867.20 including VAT - (10% fully managed) Net Income: £29,452.00 NET RETURN ON INVESTMENT AFTER REFINANCE: 34.34% BASED ON AN ESTIMATED REFINANCE VALUATION OF £495,000.00 (£165K AVG PER UNIT) WE CAN RELEASE APPROXIMATELY £371,250.00 BY RE-MORTGAGING AFTER 6 MONTHS. AT THIS STAGE, YOU WILL HAVE AROUND £36,324.88 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £12,745.75 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF 34.34%. CHOOSE LANCASTER: STRONG UNIVERSITY CITY: DIVERSE ECONOMY: STABLE LONG-TERM RETURNS • Lancaster is a thriving historic city and the county town of Lancashire, with a population of around 53,000, and over 145,000 in the wider district. • It has excellent connectivity to Manchester, Preston, and the Lake District, and sits on the West Coast Mainline, with direct trains to London in under 2.5 hours. • The economy is underpinned by Lancaster University, a world top-150 institution, with a large and growing student population. The university employs over 3,000 staff and contributes hundreds of millions to the local economy. • There is a consistent demand for student accommodation, with strong yields and low void periods in well-positioned HMOs and purpose-built student housing. • Lancaster is also home to Royal Lancaster Infirmary, the University Hospitals of Morecambe Bay NHS Foundation Trust, and a growing digital and creative sector. • Eden Project North, a transformational £100m eco-tourism development on nearby Morecambe Bay, is set to bring hundreds of new jobs and a major visitor boost to the region. • The city is well placed between major employment centres like Heysham Port (a logistics and energy hub), and is near BAE Systems at Barrow, making it a desirable base for professionals and contractors. • Lancaster maintains strong capital growth potential due to limited housing supply, high demand for rental stock, and its position as a cultural, educational, and transport hub in North West England. THE FINISHED PRODUCT • New inspire landlord thermostatic system can be fitted to control the usage of the properties central heating which will help with the significant rise in energy prices and keep the bills affordable for the landlord. Savings can be up to £1000 a year. • Will be refurbished to the highest standard and contain all the everyday necessities within the furniture pack including a washing machine, vacuum cleaner, and microwave. • All rooms will be rented at £140.00 (ensuite) per person per week. • Will be supplied, fully regulated and compliant with the local council following inspection on completion of the building work with all necessary approvals. • Every property has interlinked smoke alarms in all rooms, emergency lighting systems, appropriate fire panels and heat sensors. *Please note, VAT will be charged at the appropriate rate where applicable