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From £105,000

Kelham Ridge

  • From £105,000
  • Gross Yield: 7.5%
  • In Construction
  • Est. Q4 2022
  • Lease Length: 250 Years

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  • Investment Highlights

    • Low ground rent
    • Great location
    • Yields of up to 7.5%
    • Proven developer track record
    • Only 20% required upon exchange
    • Completion due November 2022
    • Clear tenant demographic
  • Property Description

    The residence is situated a stone's throw from historic Kelham Island, once the beating heart of manufacturing. The remains of old factories and workshops have given the area a distinct charm, now housing trendy galleries and microbreweries. Offering 84 units, Kelham Ridge will undoubtedly prove popular for the ever increasing young, professional and student community.

    Payment Plan

    Only 20% is required upon exchange and the remaining 80% on completion which is due for November 2022.

    Developer

    The developer, The Investment Room (TIRTLRS Limited), is now one of the leading property developers in the North of England, delivering several hundred apartments per year to the northern property market, with a further £150+ million of pipeline developments under construction or in planning. With a proven track record, consisting of developments such as: The Levels in Liverpool which launched in January 2017 with an average price at sale of £242,160 and The Assembly in Manchester which had an average price at sale of £263,266.

    Comparable developments

    Kelham Ridge offers one-bedroom apartments for an average of £303 per sqft and two-beds for £261 per sqft. Similar developments nearby such as Birtin Works offer one-bedroom apartments for an average of £330 per sqft, and Dandor House with one-bedrooms for an average of £364 per sqft and two-bedrooms for £309 per sqft. With these prices in mind, the location and the low ground rent, Kelham Ridge is the obvious choice for a Sheffield property investment.

    Specification

    Living Space

    • Pendant lighting to living areas
    • Palio Karndean - Sardinia flooring
    • All switches, sockets, tv, data, and other electrical points (excluding kitchen) to be white plastic

    Kitchen

    • Appliances to be Zanussi or similar.
    • 18mm melamine faced base units, matt grey (inc 1no drawer unit), sizes as per kitchen design.18mm melamine faced wall units, matt white, sizes as per kitchen design.
    • Copper effect bar handles to all cupboard doors.
    • 28mm square edge HPL laminated worktop. 100mm square edge HPL laminated upstands.
    • Glass splash back to be provided behind hob - Integrated single
    • Oven/grill – stainless steel finish
    •  Halogen above worktop four ring hob
    • Brushed stainless recessed LED spotlights
    • Integrated dishwasher
    • Integrated fridge/freezer 2:1
    • Free standing Beko or similar washer/dryer
    • Black ceramic glass wall mounted electric extractor hood, Elica or similar
    • Stainless steel single above worktop sink and drainer
    • Brushed steel mixer tap
    • Brushed steel sockets

    Bedrooms

    • Palio Karndean, Sardinia flooring with appropriate base layer
    • White plastic pendant light fitting
    • All switches, sockets, tv, data and other electrical points to be white plastic
    • 1 white thermostat electric radiator

    Bathrooms / Ensuites

    • 600x300mm ceramic floor tiles
    • 600x300mm ceramic wall tiles (full height tiling to all walls with chrome trims)
    • Brushed stainless steel recessed spotlights
    • White plastic shaver points
    • White bathroom suite
    • Chrome plated mixer tap to bath
    • Concealed cistern system to toilet
    • Glazed half bath shower screen with chrome plated trims and hinges
    • Shower system with exposed wall mounted chrome plated shower head

    Miscellaneous

    • Double Glazed Windows
    • Voice-Only Entry System to each apartment
    • Ceiling Height 2.4 Metres

    Consumables

    Prices starting from £105,000

    We expect yields of up to 7.5%

    The ground rent is low at just 0.1% of the purchase price - reviewed every 10 years in line with RPI

    The average price per sqft is £287

    Why Invest in Sheffield?

    Supply and Demand

    Resulting from a period of weak economic performance beginning in the late 1970’s, Sheffield’s population began to fall. However, once the Labour government’s economic initiatives started to yield results in the early 2000’s, Sheffield’s population again began expanding at a rapid rate. From its 513,300 residents in 2001, the number of residents living in the city had grown to 586,730 as of 2020. The population is expected to continue on this growth trend, totalling 623,040 by 2035, a 21% increase since 2001. This high level of population growth has, and will continue to, put immense pressure on the city’s housing stock.

    Construction activity in Sheffield has been unsuccessful in meeting the demand resulting from the high levels of population growth since the early 2000’s. Between 2012 and 2020 alone, a mere 11,439 units were added to the housing stock, which totalled 251,887 units as of 2020. Therefore, with only 4.5% of Sheffield’s housing units completed in the last 8 years, there is a significant undersupply of new-build investment grade properties in the city. Sheffield’s city council expects 2,248 units per annum to be completed between 2020 and 2035, below the annual new-build requirement of 2,923 units. As a result, an undersupply of at least 11,328 housing units is expected by 2035 meaning a 26% shortage of the housing requirement.

    Sales and Rental Market

    Sustained population growth combined with the economic revival since the early 2000’s has lead to house prices in Sheffield increasing by an average of 13% per annum. With these underlying factors expected to remain in place in the years to come, house prices in the region are forecast to rise by a further 28.2% up to 2025, compared to the UK average of 21.1%. Sheffield offers excellent value for investors, with prices on average 9% below that in cities such as Leeds, Birmingham and Manchester as of 2020.

    Employment

    As Sheffield’s economy continued to grow, new jobs were created, resulting in the unemployment rate falling from 11% in 2012 to 4.32% as of 2019. The unemployment rate is expected to rise to a peak of 5.96% in 2021 due to COVID-19 before returning to its pre-crisis full-employment level in the following years. Sheffield's favourable economic climate has resulted in disposable household incomes rising from GBP24,790 in 2000 to GBP39,410 in 2020, an increase of 59%. While disposable incomes dropped slightly in 2020, they are forecast to rebound swiftly and continue rising to hit GBP59,880 in 2035, an increase of 142% since 2000.

  • Property Address

    United Kingdom
    S3 8EJ

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Information

  • From £105,000
  • Yield: 7.5%
  • In Construction
  • Est. Q4 2022
  • Lease Length: 250 Years

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