*Please note that exit or resale of property depends on market conditions.
Unit/apartment features
Finishinggood
FurnishingFully furnished
BathroomsBathtub, Fully fitted bathroom
Flooring in rooms Wall-to-wall carpet, Parquet flooring, Tiled flooring
WindowsUPVC window frames
Capital appreciation (p.a.)
Expected price increase of the property* 10% in 5 years (estimated)
*Quote is based on historic facts, market analysis and monitoring of local trends on the market. *Resale price is fully depending on market conditions. Resale price is not guaranteed.
Well located development in scenic setting, suitable for young professionals and small families
Sheffield is officially the safest city in the UK
Leading educational location
The 4th largest city in the United Kingdom
Turn-key apartments, ready to move in
Guaranteed buy-back
Finance options
A Residential Development of refurbished one-bedroom and two-bedrooms apartments is offered for sale just 12 miles (19.5 km) from Sheffield, which is the 4th largest city in the United Kingdom. This residential development is well located to suit young professionals and small families in a Goldthorpe village, close to the towns of Doncaster, Rotherham and Barnsley, which are located within the Metropolitan area of Sheffield in South Yorkshire.
The property has a total built up area of 692 sq.m, 2 floors and 12 fully furnished apartments, completed and operational.
Prices start from:
£72,950 for a 1-bedroom apartment
£79,950 for a 2-bedroom apartment
Leasehold: The properties are sold on a 250 year leasehold basis with a ground rent of £350 per annum.
Returns: The investment offers assured rentals of 6% NET per annum, in these pre-tenanted residential properties.
Buy-Back Option: The developer provides a certificate, offering to buy the property back at the end of 5 years, as a potential exit strategy for investors.
Finance options: It is possible to take out a traditional buy-to-let mortgage on these properties. There is 50% developer finance in place on a non-status basis for 5 years.
The developer finance is not compulsory and is just an option for an investor.
Following this period, there is an option to extend the loan by a further 5 years, or it can be settled with cash. Alternatively the investor can sell the property to realise a capital growth or sell it back to the developer using the buy-back option for 10% more than the purchase price.
Key location and investments
The development is located not only close to Sheffield, but also close to other major towns of Doncaster, Rotherham and Barnsley.
“Northern Powerhouse” project. The nearby major city of Sheffield is a key location in the UK governments “Northern Powerhouse” project to improve infrastructure and transport between Northern England’s main cities. This project is intended to attract investment, so that the region can economically rival London. The government’s policy was the first announced after winning the General Election in 2015, and is intended to “rebalance” the UK economy towards the North of England.
Peak Resort scheme. The local regeneration that is taking place as part of the "Northern Powerhouse" project includes the Peak Resort scheme. This is a £400 million tourism development that has already begun close to Sheffield. Peak Resort aims to create more than 1,300 full-time jobs when it opens, and become one of the UK’s flagship tourist attractions.
“iPort” logistics centre. Furthermore, another 5,000 jobs are estimated to be brought to the area when the new “iPort” logistics centre is completed close to Doncaster, which is a £400 million freight interchange scheduled for completion in early 2016.
Many investors are viewing this project as a stable and secure residential development, with assured rental returns, tenants already in place in an area that has shown up to 12% capital appreciation in the last 5 years.
Location (exact)
This is the exact location of the property development.
Gallery
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This residential development is located in a scenic area in the village of Goldthorpe close to the towns of Doncaster, Rotherham and Barnsley, just 20 km from Sheffield – the fourth largest city in the England.
Goldthorpe is famous for its local market which takes place every Tuesday and Saturday and has 64 stalls.
The town has recently received a massive boost to its economy with the announcement of the opening of a distribution centre, which is employing many people from the local area.
Supermarket giant Aldi is also due to open it’s distribution centre for the Midlands area nearby, again creating over 400 jobs for the locals and are in the process of building a large store just on the edge of the town.
There are many transport links, with Robin Hood International Airport nearby, which offers flights internally to Ireland, Jersey, the Isle of Man and Belfast.
Internationally destinations include Bulgaria, Latvia, Poland, Lithuania, Romania, Slovakia, Cyprus, Greece, Italy, Portugal, Spain, Turkey, Canada, Egypt, Finland, Jamaica, Tunisia and the USA.
Payment plan
Standard payment plan:
Deposit: 5% of the purchase price
Balance payment: 95% of the purchase price upon completion
Payment plan with developer's finance:
Deposit: 5% of the purchase price
2nd installment: 45% of the purchase price, due upon completion
Balance payment: 50% developer's finance
Additional fees
During the ownership transfer procedure there will be additional charges as follows:
charges amounting to £400;
maintenance fee (i.e. service charge) - £350;
solicitors fees are usually between £800 - £1,000 per property, i.e. around 1%.
The guaranteed rental of 6% per year is after the deduction of these costs, i.e. net.
The mortgage interest (on the developer finance) is 6.2% and isn't included in the 6% per year rental guarantee, and must be deducted.
Council tax is paid by the tenant in the UK as standard, together with all bills, so the investors don't have to pay this local tax.
Contacts
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The marker on the map is indicating the exact location of the development.