Buy to Let Property

Riverside Mills, Leeds

From: £142,500
Central Leeds location
Award Winning Development
Estimated completion Q4 2020
Potential for up to 8% net returns

Buy-to-Let in the centre of Leeds


Riverside Mills is a new award-winning development in Leeds, mixing class with contemporary. Riverside Mills will comprise 74 one-and-two-bedroom apartments and is due to complete in Q4 of 2020. Prices start from £142,500 for a one-bedroom apartment. The development will see the sympathetic restoration of flax spinning mills which will be converted into apartments, adding character and heritage to the development.

Key Figures

£142,500
Starting Price

8%
Net Yield

Q1 2020
Completion Date

Investment Details

Riverside Mills is in the South Bank Regeneration Area. The aim of the regeneration project – dubbed the largest in Europe – is to expand the city centre of Leeds to twice its original size and be the epicentre of upmarket restaurants, cafes and green spaces. Once completed it will be one of the most sought-after destinations in Leeds.


Riverside Mills Leeds Buy to Let Investment Fundamentals

- Prices starting from £142,500 - Estimated completion Q4 2020 - Central Leeds location - Award-winning development - Development with heritage - Potential for up to 8% net returns - Located in South Bank Regeneration Area – a space equivalent to the size of 350 football pitches which will be regenerated as Leeds city centre doubles in size

Why invest in buy to let in Leeds

Leeds has the largest regional economy outside of London. It’s also Britain’s fastest-growing city with thriving business communities. Its economy is worth over £18bn per annum and it has grown by around 40% in the last decade. Over 32,000 VAT-registered businesses are based in Leeds and some of its major employers include Asda, First Direct, BT and Direct Line.

These figures are positive indicators for those looking to invest in Leeds itself. It’s clear if business is booming, employees will chase housing in the area surrounding their place of employment. Furthermore, although house prices have been rising, they remain modest in Leeds. This is set to change as it is tipped for being the place for highest house price and rental growth in the UK, with JLL believing house prices on average will grow by 17.1% by 2023.

The Numbers

Ground Rent:£295 p.a.

Number of Units:74

Service Charge:£667-992

Prices:From £142,500

Leasehold:250 years

Leeds Railway Station
Trinity Leeds Shopping Centre
Victoria Quarter (Business District)
Castleton Primary School
University of Leeds
Leeds City College

Communal Areas

  • Floor: Carpet
  • Walls: Plasterboard and painted, with 100mm timber skirting Ceiling: Plasterboard and painted Doors: Panelled/flush doors with polished chrome ironmongery Lights:Low energy ceiling lights
  • Power Socket(s) Generous allocation of double sockets
  • Radiators(s): Electric heating with Frost Stat
  • Phone point: Entry Phone

Bathroom

  • Floor: Floor covering
  • Walls: Plasterboard and painted, to include some ceramic wall tiling around bath half tiling in other areas.
  • Ceiling: Plasterboard and painted
  • Doors: Panelled/flushed doors with polished chrome ironmongery
  • Lights: Chrome down lighters LV
  • Radiator(s): Heated towel rail
  • Fixture & fittings: 1 x Bath,1 x WC,1 x Wash hand basin,1 x Over the bath shower,1 x Shaver point,1 x Toothbrush charger,1 x Shower screen

Kitchen

  • Floor: Engineered Flooring
  • Walls: Plasterboard and painted, with 100mm timber skirting Ceiling: Plasterboard and painted
  • Lights: Chrome low voltage downlighters/pelmit lighting
  • Power Socket(s): 4 x double sockets
  • Radiator(s): None
  • Phone Point: No
  • Fixture & Fittings: Units to be designed and approved by Client,1 x Chimney hood ,1 x Stainless Steel Sink,1 x Fridge Freezer,1 x Slimline Dishwasher,1 x Washer/Dryer,1 x Oven/Hob
  • Reservation fee: £5000
  • Exchange of contracts: 20%
  • Payment on completion: 80%

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