"The prime central location of these fantastic apartments could produce a net yield of up to 7.1, making this an investment opportunity that is hard to ignore."
Preston is one area that is growing, and its economy is benefiting from good transport links and some impressive industries making the city their home. In turn, this draws students and young professionals to the area, all looking for homes in an undersupplied city that meet the high standards they have come to expect, and more importantly, they are willing to pay the rental prices that this commands.
Preston in Lancashire is one area that is lucky enough to be undergoing a significant period of regeneration. Winckley House in particular is benefiting from a £1 million redevelopment, and the central location of Winckley House makes it extremely sought after.
Preston provides some extremely good transport links to the rest of the country, largely through its proximity to the M6, which can take commuters directly to Manchester and Birmingham.
Preston boasts a very diverse culture, which makes it appealing to a vast number of people, and has a number of notable landmarks, parks and nature reserves. As a major centre of the British defence aerospace industry there are good employment opportunities in Preston, drawing more young people to live within the area.
There is also a healthy student population in Preston as it is home to the University of Central Lancashire as well as Preston College and the Royal Preston Teaching Hospital.
Winckley House is a former office block in the centre of Preston which has been renovated to a high standard. It is now made up of 76 studio, one and two bedroom apartments which all meet a very high specification. The nearby amenities and the convenient location makes this a perfect spot for young professionals working within the city of Preston to set up home.
The apartments are off-plan and are due to be completed in November 2018. A high specification studio apartment measures 39 square metres and costs £70,500, whilst a 41 square metre one bedroom apartment costs £90,000.
To take advantage of this terrific opportunity you will need to complete a reservation form and provide a £5,000 non-refundable reservation fee. On exchange, 25% of the purchase price, minus the deposit, will be due, and the remaining amount will need to be paid on completion.
With two different types of apartment available in this development, there are opportunities to meet different budgets, and enjoy some great rental yields for a long time to come.
The Winckley House development is a great opportunity to invest in a growing city that is seeing its fortunes change rapidly as it becomes a more appealing home for many young professionals.
For more information on Winckley House or to browse other property investments in Preston, please contact Hopwood House.