Property description
SERIOUS INVESTORS - The Exchange - Off Plan apartments overlooking Salford Quays waterfront, home to MediaCityUK, the Lowry Theatre and the Manchester Imperial War Museum. An area that has been cited for future growth. Furnished options, secure parking spaces. GUARANTEED 6% NET RETURN IN FIRST YEAR.
The Investment
The demand for rental accommodation in the UK is the highest it has ever been, as the continued rise in house prices ensures that first time buyers cannot afford to take that first step onto the property ladder. Instead, tenants are looking for high-quality rental accommodation, in properties which they can essentially move straight into, without the hassle of waiting for it to be redecorated or repaired.
No investment can ever be considered safe, but there are certain sectors, like buy-to-let, where you can minimise your risk. Purchasing a buy-to-let property is once again being viewed as a way to generate a positive cash flow on your investment, as income is generated not only on rent, but from the capital appreciation gained on the property from the start. Manchester is one of the strongest rental markets outside of London, due to a severe shortage of new-build stock for at least the past five years.
Manchester was named in the 'Top 4 Buy-to-Let Hotspots' in the UK by HSBC in 2013Buy-to-let properties are increasingly becoming a more 'hands-off' investment than they have ever been, due to the improved quality of the lettings and management agencies that maintain the property. This leaves landlords confident that their tenants are being looked after and, coupled with the knowledge that there should be minimal maintenance required on the property for at least the first couple of years; off-plan buy-to-let is actually a cheaper option in the long-term for any savvy investor.
X1 The Exchange will contain 140 one and two-bed apartments built over 10 floors, allowing residents views of the city and Salford Quays. Purchase Price: £102,500Est. monthly rent: £675Est. annual rent: £8,100Est. maintenance figure: £968Est. management fee: £648Est. ground rent: £250Est. NET income: £6,234Est. NET yield: 6.1%(Typical after 1-year rental assurance)Please call our investment advisor Adam J McHenry on 01788 560 905 with any questions or queries you may have, or to talk about reservation of units. However please find below the answers to some FAQ's -
FAQ
Am I buying as Freehold or Leasehold?140 years leaseholdWhat is the address of the site?Trafford Road, Salford Quays, Manchester M5 2AWAre there tenants already in place?No. This is a new-build development which will be furnished to the highest of standards and ready to accept residents in Jan 2016What are the projected annual returns onthis project?There is a rental assurance in place for the first year of 6% NETCan I receive finance on this development?There is currently no finance offered by the DeveloperWhen is my rental income paid? This is paid quarterly in arrears direct into your bank account from completionIs there a management company already in place?Yes, the designated management company will be X1 Lettings, who will block manage and let the buildingCan I resell my unit?Yes, you can sell at any time after exchange of contractAre there any restrictions if I want to sell?No, X1 The Exchange is a residential development so you are free to sell your unit on the open market as a buy-to-let apartment.
Property Features :
- 1 Beds From £102,500 - 40 sq. m
- 2 Beds Range From £127,500 - £145,000
- 2 Beds from 54 sq. m - 59 sq. m
- Guaranteed 6% NET for first year
- Brand New, Off Plan Apartments