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City Lofts, Halifax From £112,000 | Up to 12% Net with Short Term Lets | Completing September 2023 Up to 12.8% with Short-Term Let Model

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INVESTMENT OVERVIEW

Residential Investment

28 apartments well located to take full advantage the option to do short-term and corporate lets.

The Development

Set in the heart of Halifax town centre, City Lofts is set to be a beautiful conversion of a building full of charm that has all the characteristics of a listed building without the restrictions that come with such a title. With a favourable lease allowing for short term lets, investors can expect to receive positive returns as the serviced accommodation market continues to thrive.

Highlights

 

  • Luxury 1- and 2-Bedroom Apartments
  • Very Central Location
  • Developer funded development – no risk to investment
  • Short term lets allowed in the lease  
  • NET yields as high as 12.8% achievable via the STL model
  • Predicted nightly rates from £100 for a 1 bed & £120 for a 2 bed
  • Purchase Prices from £112,000 for a 1 bed & £157,000 for a 2 bed
  • 12-month AST Values from £625 for a 1 bed & £700 for a 2 bed
  • Completion set for September 2023
  • 999 Year lease
  • £0 Ground Rent
  • 9-minute walk from the train station (35 mins train to Leeds / 48 mins to Manchester)
  • 8-minute walk to the popular National Children’s Museum (Eureka)
  • 4-minute walk to the cinema
  • 4-minute walk to the Lloyds Banking Group Halifax Headquarters

 

Market Overview

Halifax

Corporate Let and Short-Term Let Market

There is thriving corporate and short-term let market in and around Halifax.

Property Price Increase

Sold prices in Halifax over the last year were 9% up on the previous year and 12% up on the 2019 peak of £146,426

Corporate Let and Short-Term Let Market

One of the best features of this development is the possibility to engage in corporate/short-term lets. 

There are a number of major employers in Halifax including Lloyd’s Baking Group Headquarters, a major Nestle factory and the local NHS trust. There is constant demand from such companies for apartments for employees who come to work for limited periods of time in Halifax.

There is also the stay-cation market with there being lots of attractions and amenities in the surrounding countryside area such as Yorkshire Wildlife Park, Brigham Rocks and Valley Gardens. Leeds, Bradford and Manchester all being less than an hour away and all of which provide further amenities that are attractive to tourists. 

The surrounding areas are also often play host to major events such as the Tour de Yorkshire, Europe’s Strongest Man 2022 (Leeds) and numerous country fairs and events, all of which attract many people looking for somewhere to stay.

 

Project


Types:
1 and 2 Bed
Price:
From £112,000
Rental Options:
AST and Short Term Lets
Completion:
July - September 2023
Tenure:
999 Year Leasehold from Completion

Investment

Long term Lets (AST) suitable for both Cash and Mortgage Buyers and Short/Corporate Lets are permitted


Purchase Options:
Cash and Mortgage Purchases Available
Cash Buyer Return (AST):
Up to 4%
Cash Buyer Return (Short-term):
Up to 12.8%
Mortgage Buyer Return on Capital (AST):
Up to 4%
Mortgage Buyer Return on Capital (Short-term)
Up to 27%
Reservation Fee:
£5000
Mortgageable:
Yes
Fully Managed:
Yes

Alternative Investments

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