Varity House, Peterborough
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Buy to let property in Peterborough – London commuter town
Varity House is in the increasingly popular Cambridgeshire city of Peterborough. Varity House will comprise 97 one and two bedroom apartments with parking. The development is set just a mile from Peterborough city centre and ten minutes from Peterborough train station, making it an ideal choice for those working in the city or those who desire an easy commute.
Key Figures
£93,995Starting Price
7%Net Yield
Q2 2020Completion Date
Investment Details
All homes will boast a modern open-place design with oversized windows where possible to allow lots of natural light, and will be furnished to the highest specification.
Flexible investment plans are on offer, including the “monthly and mortgage” plan. This allows investors to purchase a unit where they would pay a 3% transaction fees and 500GBP legal fees. The 30% deposit is then divided by the number of build term months and paid monthly. It is ideal for investors who do not have a lump sum available.
Why invest in Peterborough
Boasting excellent transport links, commuters can easily access both London and Cambridge by train in under an hour from Peterborough. This makes it an ideal city for scientists or tech workers looking for better value for money in terms of rental prices than what they can find in either Cambridge or London. Due to Peterborough’s ideal location almost right in the middle of England, other major cities such as Leeds and Birmingham can also be reached in under 90 minutes.
Clearly people are seeing the appeal of living in Peterborough as it experienced the second fastest population growth of any UK city between 2004 – 2013. It is now positioned as an alternative to living in London. Demand for property in the city currently outweighs supply by 2:1.
Peterborough is currently in year 8 of a 15-year £1billion regeneration program and is a major player in the “London – Stansted – Cambridge – Peterborough” corridor, a priority growth area as defined by CLG. Since embarking on the redevelopment program Peterborough has seen a lot of major businesses relocate to the city, and has seen a 373% increase in the number of jobs offered.
Varity House Investment Property in Peterborough Fundamentals
- Properties starting from £93,995 for a one bedroom apartment
- Close to city centre
- 10 minutes from Peterborough train station
- 97 one and two bedroom apartments with parking
- Strong capital appreciation predictions
- Properties starting from just 24 payments of £1025 per month (+ reservation fees)
Although Varity House has now sold, Peterborough is becoming popular with professionals working in London due to the easy commute. Discover how commuter towns compare with London today.
The Numbers
Ground Rent:£150
Number of Units:97
Service Charge:£900
Prices:From £93,995
Leasehold:N/A
All homes will offer modern open plan living and dining space with oversized windows ensuring maximum natural light. With hard wood veneer floors and stainless steel sockets throughout, these high grade specifications combined with custom built kitchens, integral appliances and stylish bathroom designs come as standard for Prosperity clients, offering a home with style, luxury and comfort.
Property now sold.
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