Archway is a new off-plan residential development, in Leeds' Southbank, situated just 3km South of the flourishing City Centre. Serviced accommodation is permitted at Archway, which means yields of over 21% can be realised. The development boasts an incredible appeal to buy-to-let investors.
The stunning development comprises 29 one bedroom apartments, efficiently spread out across three storeys, to maximise both space and comfort. Set to complete in Q1 2022, Archway can be let on an Airbnb/Serviced accommodation basis and based on projects by My Property Host, investors can expect yields up to 21%.
The lease permits the use of serviced accommodation, and as such investors can go down this route with no implications from the block management company or local authority. My Property Host, who are a leading UK short term rentals operator with over 1,000 properties across the UK. They have hosted over 50,000 nights, 35,000 guests and can manage the serviced accommodation aspect for investors at a management fee of 18% + vat. They believe that the apartments at Archway could achieve an average rate of £68 per night, with an occupancy rate of 80%, thus resulting in revenue of £1,632 a month. Less their management costs of £353, investors could expect a net return of £1,279 per month on a serviced model.
The apartments will also be popular on a residential AST basis too. With accessible parking, the apartments are anticipated to appeal to the ever growing population of young professionals. This demographic is set to continue rising in population as a direct result of the record breaking economy Leeds offers.
My Property Host are a leading UK short term rentals operator. With over 1,000 properties across the UK, they specialise in enhancing returns from real estate assets.
From listing the property to communicating with and vetting guests, their dedicated team takes care of everything for an investor; providing clients with a 100% hands off Airbnb solution.
They have hosted over 50,000 nights, have an average rating of 4.2/5 stars and have had 35,500 guests stay in their apartments.
Archway is located on the cusp of Southbank. The South Bank project will transform Leeds, doubling the size of the city centre as well as its economic impact. The development is located within the largest regeneration project Leeds has ever seen. It will turn the South Bank area into a global destination for investment, sustainable living, learning, culture, creativity and leisure. Once complete, South Bank will bring 35,000 new jobs, 8,000 homes and a new international commercial district to Leeds. Leeds South Bank is one of Europe’s most exciting sustainable growth locations and will transform Leeds city centre. With the development ideally situated in Southbank, this is one of the best property investment opportunities available in Leeds.
Plans for the future of the South Bank could double the size of the city centre, creating an aspirational space that’s the equivalent size of 250 football pitches.
Leeds South Bank is one of Europe’s most exciting and sustainable growth locations which will transform Leeds city centre.
The area is already home to:
In the future it will be the home of:
Home to ASDA’s UK headquarters, aql, The Tetley and the proposed HS2 station, this area has strong potential for a well-connected, sustainable business and residential community.
The area has been transformed into a national centre for the creative and digital industries, after receiving over £250m of investment, the area offers significant development potential for high quality residential and mixed use developments.
Leeds Dock, home to the Royal Armouries Museum, is a vibrant destination that has adapted to the leisure, work and social needs of the people of Leeds. Leeds Dock will enhance the attractions of the city’s waterfront and its hinterland provides a range of development opportunities.
The Ground rent is 0.1% of the service charge.
The service charge is estimated just £1.20 per sqft.
Archway boasts 29 one bedroom apartments, all of which are accompanied with a dedicated parking space. Additionally, Archway boasts a number of impressive amenities such as :
Empire is a market leader in property development, working to create innovative and impressive living spaces through a unique combination of property conversions and new-build projects.
Empire has previously carried out similar projects across various different locations such as Wolverhampton, Bolton, Doncaster and Newcastle, with many of these developments selling out months in advance of completion.
Between 2012 and 2020, Empire completed 1171 apartments as well as commercial units over the course of 28 sites. Empire today boasts an impressive pipeline of 2487 apartments and commercial units currently in planning, which spread across a further 33 sites too. Overall, Empire boasts an impressive portfolio of 3767 unites, maintaining a zero percent failure-rate throughout them all.
Leeds is a dream for shopaholics, with no less than 8 indoor shopping centres as well as the main pedestrianised shopping street Briggate, with its many arcades, some of which even dating back to the late 1800's. All budgets and tastes are catered for, if High end brands is what you're looking for, the Victoria quarter is the place to be with luxury boutiques as well as a Harvey Nichols. Simply for the architecture alone, the Corn Exchange is definitely worth a visit, but as an added bonus, the refurbished building also boasts quirky independent shops and cafes ensuring Leeds the position of the third largest shopping destination in the UK outside of London.
Leeds City Centre has a wide selection of bars alongside some of the worlds best restaurant chains which offer a massive variety of different cuisines, from the renowned ivy, Guacho and San Carlo, to name a few. This partnered with the warmth from the people of Leeds offers a real welcome to this delightful city.
Leeds has a very proud and rich culture, with many fantastic cultural destinations within the city. Not only is Leeds home to world renowned author Alan Bennett and the greatly celebrated artist Damien Hirst, but it is also home to an array of top-class museums and galleries including the Leeds City Museum, the Royal Armouries and the Thackery Museum.
Leeds boasts a variety of lovely parks and open spaces to explore. Roundhay Park, for example, is one of the largest city parks in Europe. There is lakes, tropical glasshouses, landscaped gardens and open areas which hold big events such as concerts and the Leeds Asian Festival.
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