V2 Mansions is a brand new launch, compiled of 14 unique one and two-bed apartments. The development is completed and tenanted, with parking spaces available for all apartments. One-beds start from £145,000, including parking.
There are 4 one-bed and 10 two-bed apartments in the development, each individually designed to offer contemporary living. The apartments are completed and tenanted so investors will see an instant return on investment, furthermore with proven rental demand and strong capital growth in the area, your investment is future-proofed. With a communal outside garden, duplex apartments and a number of units with private patio areas; the apartments are original in style, generous in proportion and unrivalled in quality. Additionally, the development offers a sense of exclusivity and security as it is securely gated and offers secure parking for all apartments.
The apartments, in V2 Mansions, have been meticulously designed to offer contemporary living. The development offers an unmatched collection of 14 exceptionally
well-appointed and unique residences. Every aspect of which has been carefully considered to ensure the apartments are original in style, generous in proportion
and unrivalled in quality.
The detached building furthest to the south contains four apartments, two of which are two bed duplex located on the ground and first floors, with two additional two beds located on the floors above. Complemented by its features is the building's contemporary façade. The semi detached north building contains 10 apartments of which 4 are one bed units and 6 are two bed units, four of which benefit from being duplex apartments.
North Property Group expect to achieve great rents with these apartments, therefore generating net yields of up to 5.8%.
The ground rent is just 0.1% of the purchase price.
The service charge is just £0.83 per sqft.
There is an excellent payment plan in place which requires only 10% on exchange and 90% on completion.
There is a communal courtyard for tenants to relax and socialise, while creating a great sense of community within the development. Additionally, there are private communal gardens at the back of the development, which offer refreshing views from apartments and an escape from the apartment living. The development offers a sense of exclusivity as well as security as it is securely gated, with key fob entry, and offers secure parking.
Situated in the affluent suburbs of Chapel Allerton, the development is in close proximity to the City Centre, the local universities, hospitals and top employers make this area especially popular with students, nurses and professionals. There a vast amount of amenities near the development, such as Potternewton Park. With many attractions ranging from an open parkland, basketball court, a bowling green, outstanding flower beds and more; providing the perfect day out, and it is just four minutes from V2 Mansions. Additionally, the First Direct Arena is just six minutes away by car and the John Lewis Victoria Gate shopping centre is seven minutes. So, with a generous amount of amenities just minutes away, it is clear why there is such high tenant demand.
Due to the abundance of local amenities and thriving communities, many young professionals, students and medical professionals choose to live in the area. The high specification has guaranteed the popularity of the development which has been proven, as V2 Mansions has experienced huge levels of rental demand since completion. With many enquiries from young and medical professionals due to the close proximity to major employers such as Leeds General Infirmary, ITV and many universities. This high demand ensures the investment is future-proofed with long-term rental demand and growth.
Ideally situated in the village-like suburb of Leeds is V2 Mansions. The suburb is very popular with a range of demographics; due to the number of schools so close by; such as Bracken Edge Primary School and Leeds City College and more, families, and many young people wanting to start a family, are drawn to the area. Additionally, Chapel Allerton is filled with global eateries, quick transport into Leeds City Centre, popular bars and a lively centre. All appealing to the demographic of young professionals looking for accommodation. With all the different demographics being drawn to the area, there is a surplus of housing demand however a severe lack of supply. Due to this lack of accommodation, many investors and landlords are able to generate impressive rents and strong yields.
With Leeds' population expected to grow by 819,000 by 2024, the city of Leeds is booming; driving rental demand in the region. With only 60,000 new homes in the pipeline; far short of the required 90,000 by 2021 - the Leeds housing market will certainly benefit.
Leeds is now rated as the UK's top prospect for house price and rental growth in the UK, according to JLL's latest forecast. The city knocks Manchester off the number one spot, a position it has held for the last four years. JLL anticipates capital values to increase by an average of 3.3 per cent a year over the next five years; with rental growth forecast to increase by an average of 3.2% per year over the same period. This is well above the UK average forecast 2.2% price growth and 2.4% rental growth.
A recent study by CIA Landlord, into the most profitable UK cities to be a buy-to-let investor, has ranked Leeds as the best city in the North of England. The research ranked the average property price, mortgage cost, average rent and monthly costs associated with owning a buy-to-let to calculate the monthly profit landlords can expect from each city. Although Brighton and London took first and second space, Leeds came third; with an average monthly profit of £432.29. Leeds also has much lower average property prices at just £189,738.
Additionally, there is no better time to invest in Leeds property than now. Expected to increase by 14.2% by 2025 are rental prices in Leeds. Forecast to grow by 21.6% over the next five years are Yorkshire house prices, according to Savills.
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