FAST FACTS
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Price :Starting from £136.000
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Rental Yield :Cash buyer incentives 6% Net return for 2 years or 5% interest on deposited funds
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Completion Date :Q3 2023
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Deposit Interest :5% for cash buyers
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Tenure :250 years
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Developer :Heaton Group
The Exchange
The Exchange is a brand new off-plan development consisting of 200 stylish apartments over 3 blocks, residents will benefit from a host of on-site amenities, including a gym, concierge, rooftop gardens, residence lounge this will appeal to both to young professional renters and also the modern family.
Situated in the heart of the third largest city in the North West, Preston has a rapidly growing population and is one of the fastest growing cities in the UK. Form its 38,000 students at The University of Central Lancashire to the public investment of +£434 million schedule across the City over the coming years. This has caused capital growth to increase 6.6% last year which was well above the national average and rents to increase 4% in 2020 which was double the national average. Economic growth is forecast to grow by over £1bn in the next 10 years so this city has excellent capital growth potential for both investors and homeowners.
Investment highlights and selling points –
- Secure you apartment from as little as £34,000
- 5% discount of the Purchase price for a limited time
- Mortgage buyer option payment plan 25% on exchange of contracts, 75% on completion
- Cash buyer options 50% on exchange of contract, 50% on completion
- Cash buyer incentives 6% Net return for 2 years
or
5% interest on deposited funds
- Developed by The Heaton Group who have been developing for 45 year through 5 generations of The Heaton Family
- Fully funded by HS Credit which is a subsidiary of a large international funding group called Hap Seng (market cap £4.5bn)
- Option to be fully managed through Heaton Group Premier Lettings management company who have been established for 10 years.
The Exchange Terms
1 bedrooms from £136k Expected Rent PCM £725 - £850
2 bedrooms from £180k Expected Rent PCM £1125 - £1175
3 bedrooms from £250k Expected Rent PCM £1550 - £1600
Construction start date: April 2021 (started on time)
Completion date : Q3 2023 (this includes 3 months contingency for an delays)
Longstop date : 6 months from the anticipated completion date (extract from the contract)
250-year lease (starting 1/1/22)
Ground rent 0.1% reviewed every 5 years RPI.
Show flat in Bishopsgate which we can book viewings.
Block A is exclusive to us - 70 units in total (53 one bedrooms, 9 two bedrooms and 8 three bedrooms)
Service charge £1.80
Furniture packs – being finalised.
Roof top gardens, gym, concierge, residents lounge, bike storage , commercial units on the ground floor
