The holy trinity of property investment is low capital outlay, attractiveness to good-quality tenants and the prospect of realising good capital gains once it comes time to sell. Sounds simple, really. But it may seem to the novice investor that he is being asked to predict the future.
During times like now, when the housing market is the subject of so much speculation, so to speak, many are confused about whether it is wise to even consider entering the buy-to-let market, or extending their investment. And definite answers are not out there; any prospective investor has to think about his own position, and place the wisdom of any possible outlay within a wider context of the potential for a downturn. It’s always good to play ‘what-if’ over market variables such as interest rates, house prices and lender friendliness, as well as more personal considerations like future employment prospects, pension circumstances and your attitude towards risk.
For those who do decide to invest in property, aiming towards new build is an increasingly popular course of action, as it lends itself to a low-maintenance style of stewardship – something that sets it apart from the needy, less energy-efficient Victorian conversion flat, for instance. And with house prices having hit a period of much slower growth, the new homes market seems to have stopped racing ahead price-wise, the better for the average would-be investor to jump on board.
In a very up-and-coming part of London, Bermondsey Square is a mixed-use development with history as well as modern style. Centred around the site of the original Bermondsey Antiques Market, this will take the shape of 76 bespoke apartments, with other amenities including an art house cinema, boutique hotel, offices, restaurants and bars.
Those from around London and beyond will be glad to hear that the weekly Antiques Market will be back once the regeneration scheme is completed; the new space will have enough space for up to 200 market stalls, and will feature other regular markets such as fashion and farmers markets. There will also be one-off events including outdoor cinema, making this area even more than ever a destination for leisure-seekers.
Other nearby attractions, such as Zandra Rhodes’ Fashion and Textile Museum are evidence of a new ‘coolness’. Other nearby attractions, such as Borough Market, the Tate Modern and other South Bank must-sees, are firm London favourites, and the wealth of good transport ticks yet another investor-friendly box.
Bermondsey Square, situated at the junction of Tower Bridge Road and Long Lane, is part of what Southwark Council call a ‘strategic site’. A combination of archaeological interest and bomb damage in the area has meant the area has been underdeveloped – a rarity in London! The neighbourhood is currently home to a diverse mix of architecture, including Georgian, Victorian, loft apartments and 20th-century warehouse buildings.
Under the aegis of Igloo Regeneration Partnership, the new nine-story Bermondsey Square residential building will both have contemporary timber and perforated steel construction and display a section of the ancient remains from the 11th-century Abbey Church in a glass cube within one of the proposed restaurant units.
Bermondsey Square is due for completion in July. Call 020 7420 3023 or 020 7629 3344 or visit bermondseysquare.co.uk.
Milliners Place is the conversion of a former hat factory with the addition of three new buildings on Midland Road to create 119 luxurious one, two and three bedroom apartments. Situated in the town centre, Milliners Place is a five minute drive to the M1 making the North and South of England easily accessible and short walk to the train station, which offers the town’s commuters fast trains to London’s St Pancras in just 23 minutes and an easy commute to Luton Airport.
Redeham Homes has sensitively converted Milliners Place to retain the building’s original Georgian architecture, whilst creating stylish apartments that maximise the available space and light. The apartments have been built to a high specification including a choice of kitchen designs incorporating an integrated stainless steel oven, extractor hood, fridge / freezer and washer dryer. Redeham Homes recognises that different purchasers prefer different apartment layouts to suit their lifestyles and so have created properties that have open plan, semi-open plan and separate kitchens.
The contemporary bathrooms include Roca Laura wall-hung white sanitaryware complemented by Grohe fittings, thermostatic showers and heated towel rails. To provide purchasers with an added level of style and luxury, a range of the apartments include en suite facilities to the principal bedroom. A selection of the apartments benefit from balconies or terraces.
Private parking is also available at the development. Milliners Place is ideally situated for residents to take advantage of the facilities and amenities that Luton has to offer. The Arndale Centre, which has over 120 shops, is within easy walking distance, whilst Luton offers a diverse range of restaurants, bars and leisure facilities.
Prices for the remaining apartments at Milliners Place start from £130,000 for a one-bedroom apartment and from £170,000 for a two-bedroom apartment. Call 01582 456 692 or see redehamhomes.co.uk.
In Birmingham, a city that is seeing some exciting regeneration, Imagine Homes has just acquired The Exchange, an exciting new buy-to-let opportunity. This selection of stylish one-, two and three-bedroom new build apartments is in a highly sought-after location within the famous Jewellery Quarter. With a great selection of bars, restaurants and shops on the doorstep, the city centre hotspots are within easy reach. Birmingham New Street railway station is within walking distance and London is just an hour and a half away by train; road links are also comprehensive, with the M5, M6, M40 and M42 within easy reach. For frequent flyers, Birmingham International Airport is also nearby.
Birmingham has seen a £450 million redevelopment of the Bullring and Mailbox shopping centres. The Jewellery Quarter itself has undergone significant regeneration, with £250 million of public and private money invested over the last ten years, and its reinvention as a sustainable and inclusive urban village will be complete by 2010.
Grant Bovey, CEO of Imagine Homes, says, ‘We are delighted to offer property investors a rare investment opportunity in such a sought-after location. Continued regeneration and inbound investment will continue to encourage strong capital growth and rental demand.’
Imagine Homes offers its customers a worry-free way to invest in residential buy-to-let, sourcing quality new build opportunities in excellent locations with strong capital growth and rental prospects. Imagine Homes also finds the tenants, manages the property and guarantees the customer a unique rental return of 7.5 per cent of the purchase price per year for two years.
Prices at The Exchange currently start at £143,000. For further details and to register your interest telephone 0800 458 5050.
Imagine Homes has many other buy-to-let properties available throughout the UK. Visit imaginehomes.co.uk to find out more.