Why We Love It?
This is our favourite Liverpool project for short term lets for the following reasons.
The development – The high spec finish and great facilities are ideal for short lets.
The location – Liverpool is always full at the weekend due to the stadiums, conferences and nightlife but the position near to major business should maximise weekdays too.
The prices – The starting prices (£109,950) and the price per square foot (£255.70) are 20% below the Liverpool average.
The returns – The low prices, the occupancy and the nightly rates mean returns above 11% net are possible.
See below as we take a look at each of these in more detail
60 Old Hall Street is a high-end development of 93 apartments in the centre of Liverpool’s Business District. The development has a 9th floor roof top terrace offering spectacular views of the city, which will look great on Booking.com and TripAdvisor. Eight floors of accommodation sit above a ground floor which has a 24-hour concierge offering residents around the clock service and security. The basement floor is home to Signature’s 2,500 square foot gym where landlords get concessions to offer gym access with their short-term accommodation which should really boost bookings.
“3 minutes’ walk from the HQ international
companies such as Maersk, Bosch and Sony”
Ideal Short-term Let Location
There are few better locations for short term accommodation in Liverpool. 60 Old Hall Street is in the heart of the busy office district the area and is energised and vibrant by day. It will get high weekday occupancy being less than 3 minutes’ walk from the UK headquarters of major international companies such as Maersk, Bosch and Sony. As well as major UK law firms Hill Dickinson and Weightmans LLP. In addition to business occupancy, short lets in this area also achieve the higher rates for events and weekends. It’s only a few minutes’ walk from Liverpool’s waterfront; home to the exhibition and conference centres. Also, Old Hall Street is close to both football stadiums which collectively bring in over 100,000 visitors to Liverpool on match days and 5 minutes’ walk to where the cities best bars are including the Cavern Club.
“a 430 sqft apartment for just
£109,950 puts the price at 20%
below the market average.”
Liverpool is a great location for capital growth
House prices in Liverpool have been going up faster than almost all other UK cities over the last year. However, it still has the lowest average starting price of any of the top UK cities, meaning you can still buy a great apartment for a relatively low amount of money.
The Hometrack House Price indices provides analyses on housing market trends. The most recent stats below support how Liverpool’s average is lower, at £122,300, in respect to comparable cities such as Birmingham and Manchester. House prices have also seen a healthy 4.1% increase in the last 12 months.
At 60 Old Hall Street you can get a 430 square foot apartment for just £109,950. Which puts both the price and the price per square foot at 20% below the market averages.
Apartments in this area of Liverpool are consistent all year round, so there’s very little seasonal variation. They do fluctuate based on international events in Liverpool, European football matches etc., however a rate of £130 per night for 1 bedroom and £150 per night for a two bedroom is certainly achievable.
“even with just 65% occupancy; investors
will earn investors 10% returns”
We anticipate occupancy of above 80%. But even with just 65% occupancy; investors in apartments at 60 Old Hall Street will earn 10% returns.
The following comparable accommodation on booking.com show that nightly rates are far exceeding £150.
Our short term let management partner do absolutely everything for you, meaning these are fully managed hands off investments. In partnership with them and based on the actual market returns and costs, we have produced a rental forecast showing 10% returns on low occupancy and 14% returns on high occupancy.
Request your Short Let Income Forecast