Property Overview

• 1 Bedroom
• 1 Bathroom
• GF Apartment

Financial Information 

• Yield 6.3% / 18%
• Gross Revenue Forecast: £12,000 / £34,560

Location Information

• Gateway 2 is positioned on the outskirts of the centre, a short walk of approximately 15-20 minutes to the train station and 25 into the City Centre.
• Poppleton Road benefits from a number of local amenities including a convenience store a few moments away and a bus route in and out of the city centre, taking approximately 10 mins to the station. By car it is very accessible via a number of routes allowing for avoidance of traffic or road works.

More Information

To receive the full brochure you must register on our exclusive buyers database here.

Description

We believe this property works best with a mortgage at 75% LTV or less based on a mortgage interest rate of 5%.

Due for completion in July, we are delighted to offer this one bedroom apartment comprising of open plan kitchen, dining and living space, double bedroom, shower room and utilities cupboard to the market. Plot 35 is located on the ground floor of the building, and along with three other apartments benefits from a private entrance.

The property is being offered on a leasehold tenure, with a new 250 year term. The service charge is £1,000 per annum and there is no ground rent payable. Payment terms are 20% on exchange of contracts, with the balance due on completion though simultaneous exchange and completion will be feasible with the build completion date nearly upon us.

There are many benefits to purchasing a brand new property as an investor with one of the key benefits being the low ongoing maintenance costs which lead to a higher and more consistent cashflow.

Gateway 2 was originally built as offices, however, the developer, Helmsley Group, had the vision to develop the building into much needed residential apartments and working with Artium Group, the head contractor have done so adhering to the current, very stringent building regulations particularly those set out for green, sound and fire standards.

Each of the plots we have available have an allocated parking space, a huge benefit as most city centre apartment do not come with parking and are paid for as an extra at a cost of around £25,000 per space. In addition, for our investor clients, ‘Serviced Accommodation’ units in the city rarely have on site parking which makes this investment opportunity so appealing and valuable! In our experience lots of guests that visit York travel in cars and being able to offer on site parking will set your property apart from competitors.

The property is currently being converted and built with an expected completion date of July 2024.

To receive a copy of the comprehensive brochure please register on our buyers database – visit our website to complete the buyers registration form.

Buyers premium of £3,040 + VAT – payable in two parts:
– A non-refundable reservation fee of £1,500 plus VAT
– The balance is due upon legal completion (which is collected and paid by the buyers solicitor)