The Phoenix is a fantastic Leeds Buy To Let development that stands at 17 stories tall. Phoenix will consist of 204 one bedroom apartments, 144 two bedroom apartments and 19 three bedroom apartments. This development will be the fourth tallest residential building in Leeds City Centre. As a result of the height of the development, The Phoenix will offer unrivalled views across the City Centre and will be a fantastic Leeds buy to let investment.
Phoenix is one of the only UK projects with PRS-Style amenities available to investors. This makes The Phoenix an unmissable opportunity, made even better by its strategic location. The Phoenix boasts a 24-hour concierge service, a state-of-the-art gymnasium, co-working space as well as a communal terrace. As a result of these amenities, tenants will be happy to pay premium rents for the luxury, thereby generating impressive yields of up to 7%, which is great for Leeds buy to let investors.
The fantastic development is situated in a prime City Centre location, set in the heart of the Cultural Quarter. The Phoenix is just a 2-minute walk from the Northern Ballet, Leeds College of Building, Leeds City College, Leeds Bus Station and BBC Yorkshire. The Phoenix is also just a 3-minute walk to the £300million SOYO project, as well as being just 10 minutes from the Leeds Playhouse, Kirkgate market, Aire Park, the £165m Victoria Gate Shopping Centre and Trinity Leeds. Boasting one of the most sought-after locations in Leeds, The Phoenix will appeal to a mixed demographic of tenants.
Due to the strategic positioning of The Phoenix, Leeds buy to let investors can expect to see this development appeal to a mixed demographic of tenants. Due to the expected amount of tenants, The Phoenix will offer a large amount dynamism and durability. Investors can rest assured there will be no shortfall of tenant demand.
The Phoenix is located just a short commute from the financial district, SOYO BBC Yorkshire, Victoria Gate, Trinity Shopping Centre, The Headrow and the LGI. This means that the development will appeal to a variety of professionals working across a number of different sectors.
Situated just eight minutes away from the Universities, The Phoenix will appeal to students who desire high-quality living. The Phoenix is expected to appeal to international students on scholarships, students studying at Masters and PHD level and student nurses – particularly due to the high level of amenity which international students desire.
Just 10% is required on exchange and the remaining 90% on completion in Q3 2022.
The ground rent is 0.1% of the purchase price.
The service charge is just £1.50 per sq ft.
We expect one-beds to generate rents of £1,100pcm, two-beds to generate rents of £1,600pcm and three-beds to generate £2,000pcm.
Developers, Khalbros and Torsion, boast impeccable track records for delivering projects on time and to a high quality.
Khalbros has an exciting and diverse portfolio with previous developments such as Leeds's own Horsforth Mill. 89 apartments completed to a beautiful specification and measuring a circa total 80,000sqft.
With just a glimpse of Torsion's portfolio; The Toy Box development - valued at £19million and completed within 69 weeks - or St. James House, valued at £6.75million and was completed in 35 weeks, means investors can relax knowing they are in capable hands.
Leeds is fast becoming one of the best places in the UK to be a landlord. Its reasonable prices, high demand and fast growing population result in some of the highest yields in the country. Leeds also offers excellent capital growth, which contributes towards The Phoenix being a great opportunity for Leeds Buy to Let investors.
The reasons for the city’s popularity with tenants is much the same as for the owner-occupiers. With many major companies – including, Sky, HMRC and Channel 4 – moving to Leeds, there are great employment prospects here.
The huge variety of shop and entertainment options, as well its excellent transport links make Leeds a top choice.
With so much that Leeds has to offer, it’s not surprising that Leeds is one of the countries hot-spots for buy-to-let investors. It is also one of the top choices for people moving away from London, keen to live somewhere with a better quality of life.
Leeds is currently experiencing population growth at a rate seven times faster than London. This means that in 10 years the city is expected to have 39,000 more residents than it does today.
With a growing population comes a growing demand for housing. Leeds housing supply significantly lags behind this demand. Leeds City Council has stated that at least 4,375 new residences are needed per year. Currently only 2,232 are under construction..
This creates growing opportunities for property investors. Leeds consistently ranks as one of the best forecasts for property price and rental growth in the UK. Between 2019 and 2023 it is forecast that capital growth will be 17.1%, the highest of any regional city in the UK.
With 120,000 business generating a total GVA of more than £60 billion, Leeds is the largest regional economy outside of London. Leeds is the largest contributor to the UK economy, and is larger than that of many European countries.
Many large businesses are opening offices in Leeds and employing increasingly skilled workforce. It is also home to many of the UK’s leading professional service and technology hubs outside of London. Just some of the major organisations that have a presence in the city are Channel 4, Sky and HMRC.
The future of the Leeds economy looks just as promising. Over the next decade, the city’s economy is set to grow by 25% with finance and business services accounting for 38% of the total output. This huge growth has helped change the economic geography of the UK and make Leeds the largest financial centre in Britain outside of London.
Leeds continues to undergo major transformations. There are many huge regeneration projects currently underway in Leeds. These will bring new investment opportunities to the city.
The South Bank project will transform Leeds doubling the size of the city centre as well as its economic impact. It will turn the South Bank area into a global destination for investment, sustainable living, learning, culture, creativity and leisure. Once Complete, the South Bank will bring 35,00 new jobs, 8000 homes and a new international commercial district to Leeds.
Another significant project is SOYO. Once complete, this £300million development will be heart of the Leeds cultural scene. This extended cultural quarter brings with it almost 150,000 sg ft of office, retail, and leisure space, as well as 700 residential units. Thanks to SOYO’s numerous trendy bars, restaurants and outdoor spaces, the area is likely to become one of the most desirable in Leeds.
As one of the key Northern Powerhouse cities, Leeds is set to see major benefits from HS2 and Northern Powerhouse Rail.
HS2 will bring with it a new £500million railway station in 2032. This will connect the city to London in less than 90 minutes. Northern Powerhouse Rail will better connect Leeds with other major Northern cities.
But that’s not to say Leeds isn’t already incredibly well-connected. The Nearby Leeds Bradford airport links the city to other international hubs, while rail routes and excellent road networks efficiently transport people between Leeds and the rest of the UK.
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