The Residences is a brand new gated community situated on the iconic Jackson’s Corner in the heart of Reading. Only two months away from completion, this contemporary refurbishment of an iconic, prominent, landmark site is built around a tranquil courtyard in the very centre of Reading and just five-minute walk to Reading train Station and a further 25-minute train journey into the very heart of London. London under 30 minutes!
This boutique project will comprise of 33 luxury finished apartments with thoughtful interior design, digitally controlled Fascino bathroom controls, RAK Ceramics and Oak / Ebony wood flooring.
These uber-modern one and two bedroom apartments have been designed for buy to let investors for either Long-Term rentals (AST’s) or Short-term Lets on a serviced-accommodation style model to seriously maximise annual rental income projected between £17,220 – £22,960 per annnum. With no restrictions in the lease or planning for short term lets, this will be a quite unique offering in such an ideally located position of Reading. A specialist management company is in place or experienced landlords can self-manage to really boost annual return.
Fully mortgage-able and almost operational, means a one bed property at £287,000 with a 25% / £71,750 deposit and a 75% loan to value mortgage, could provide a healthy projected annual return of £17,220* NET in the first year!
Reading’s has a burgeoning economy and an excellent University with over 26% of graduates remaining in the town, in turn fuelling growth alongside the ripple effect of displaced Londoners into the Commuter Belt, resulting in apartment price growth of 21% in the past five years.
*6% Net Yield P.A. based on conservative lower than avg. projected year-one occupancy of 70%.
With Central London only 30 minutes away and only 40 minutes to Heathrow Airport, The Residencies are highly attractive to London commuters and business travellers. Reading has the highest employment rate in the UK and the town has been deemed as a south-eastern powerhouse, which will grow faster than London, according to EY’s UK Region and City Economic Forecast.
Reading University is well regarded nationally with strong links to Nanjing University in China, and one of the best reputations for business and finance related subjects in the world.
Reading recognised as the Silicon Valley of the UK, having a tech density 8 times that of the rest of the UK, housing multi-nationals such as Huawei, Cisco, Intel, Ericsson, Intel, Oracle and Microsoft to name but a few.
- One-bed and two-bed apartments from £287,000
- Purchase with up to 75% LTV mortgage
- Completion date January 2020
- Short-term lets predicted annual income from £17,220 – £22,960
- Standard long-term rentals predicted annual income from £11,480
- No restrictions in lease or planning for short term lets
- Specialist management company in place or experienced landlords can self-manage to really boost annual return
- Recommended mortgage Broker Available
- Reading is forecast to be the fastest-growing economy 2018-21 according to theEY UK and Regions Economic Forecast 2018
- Reading was ranked in the top 25 most attractive European cities for Foreign Direct Investment in the FDI European Cities & Regions of the Future (2018/19 – Financial Times)