One Bedroom Apartment, Fourth Floor 408, The Weaving Mill
Property description:Lovely modern one bedroom apartment on the fourth floor of an iconic building in the centre of the city of Bradford.
The Weaving Mill provides a stylish urban living experience in the heart of the bustling town of Bradford and offers a variety of investment highlights.
- High quality one bedroom apartments.
- Located in the heart of Bradford.
- 95 apartments available.
- Furniture pack available.
- Expected rental yields of 8%.
- 8% on deposited funds.
- Purchase price from £60,000.
- Invest from only £40k initial payment.
- Bradford enjoying a huge economic resurgence now having an economy of £8.7 billion.
- Reserve for £1,000.
The Weaving Mill is an iconic building set in the heart of Bradford city centre, which is about to be transformed into modern residential apartments.
Located next to the University of Bradford, The Weaving Mill is the perfect residential hotspot for those looking to embrace a more urban lifestyle in one of the country’s fastest growing and most vibrant cities.
Now boasting an economy of £8.7 billion, Bradford is enjoying a huge resurgence with investment levels and development at an all time high..
Why invest in Luton?
In recent years the city has become an increasingly popular choice for those looking for a healthier return on their money and it is now seen by many as a far more attractive option than the more expensive northern cities of Liverpool, Manchester and Leeds.
The Weaving Mill is set to deliver stylish and modern living accommodation while at the same time offer substantial returns through the purchase of these stylish, spacious and modern apartments.
Our team of executives are on-call to assist you throughout every stage of the purchase process, from initial enquiry to completion of your property purchase. The purchase process will proceed as follows:
- Your sales consultant will prepare a reservation form which includes details of the unit that you have chosen and the financial terms offered by us.
- You will then be asked to sign the reservation form and pay the £1,000 reservation fee to reserve the unit. Within seven days, you are required to send us your certified identification documents along with source/proof of funds for the unit.
- A memorandum of sale is then issued to the third party solicitor chosen by you to act on your behalf. At this point the purchase contracts will be sent to your solicitor for review.
- A client care pack will be sent to you by your chosen solicitor for your authorisation, this allows the necessary checks to be carried out and the purchase to continue as per UK conveyance law.
- Your solicitor will also send you the purchase contracts and their report on title; this is your third party advice that relates to your purchase. You should read this thoroughly and liaise directly with your solicitor to ensure you’re satisfied with the documents you have received.
- Once you are ready to proceed you will be asked to sign and where appropriate have your witness sign the contracts and return them to your solicitor, using a secure, signed-for delivery service. At the same time, you are required to transfer the balance of purchase into your solicitor’s client account.
- Upon receipt of your documents and the balance purchase monies, exchange and completion can take place. Your lawyer will then attend to all registration formalities with the Land Registry.
- Omitting delays, the purchase process is scheduled to take no longer than 28 days from the point of reservation
The Weaving Mill stepped cash input delivers £3,200 as a coupon payment in Years 1-2 (construction is scheduled for 2 Years) and a further year’s assured tenancy rent yielding £4,800 in Year 3.
£60,000 - Purchase Price.
£40,000 - Cash input at commencement of lease.
£13,600 - Balance Due at Year 2 (after deducting Years 1&2 coupon payments).
By using the coupon rate of 8% for the first two years, you are able to reduce your total capital outlay from £60,000 to £53,600 by offsetting Years 1&2’s coupon payments of £3,200.
How the return is calculated:
For Years 1-2, Cash input £40,000 x 8% = £3,200 x 2 = £6,400 and for Year 3, Purchase Price £60,000 x 8% = £4,800. Average 1 bed apartments rental income per calendar month in Bradford city centre is circa £400. This equates to annual revenue of £4,800.
In the centre of the UK, surrounded by miles of unspoiled countryside, lies the thriving multicultural city of Bradford. With its deep history, wealth of stunning architecture and array of modern galleries, museums, restaurants and entertainment, this is a city which is very much on the up.
Bradford has a long industrial heritage and during the industrial revolution it was once the wool capital of the world, it was home to philanthropists such as Sir Titus Salt who helped build thriving businesses and housing in the city and helped establish Bradford as a global powerhouse. Bradford’s Victorian past is evident in its striking buildings and architecture, located most prominently in the busy commercial area of Little Germany which houses Europe’s highest concentration of listed buildings.
More modern constructions include City Park, a multi-award winning public space located in Centenary Square. The impressive mirror pool is the largest urban water feature in the UK, stretching 400sqm and featuring more than 100 fountains, including the tallest in any UK city at 30m high. A prosperous city of culture, Bradford has been designated the world’s first UNESCO City of Film and its renowned National Media Museum is among the most visited museums outside of London. The city is also home to some impressive works of art, including that from Bradford’s very own David Hockney in the 1853 Gallery at Salts Mill, and L. S. Lowry and Andy Warhol at Cartwright Hall, while the popular Alhambra Theatre plays host to a wealth of West End shows and attracts 380,000 visitors per year
In addition to its thriving arts and culture, the city has a well-deserved reputation for Asian cuisine and is the first ever city to have been voted Curry Capital of Britain for five years in a row while its bustling bars and clubs make it a Mecca for those looking for a night out. Bordering the beautiful Yorkshire countryside, the city is perfectly located to flee the hustle and bustle and escape to the countryside and it is little wonder Bradford has become one of the country’s most attractive residential hotspots. Its central position and excellent train links provide easy access to some of the country’s most visited and popular tourist attractions including Bronte Country, Saltaire, the Peak District and the famous Yorkshire Dales and we look forward to opening the door to this exciting opportunity.
- London 2 hours 40 minutes by train.
- Manchester is 1 hour by train.
- Leeds is just 20 minutes by train.
- Leeds Bradford International Airport is 7 miles North East of the city.
- Close to Bradford University, Shopping, Train Station and Bradford City FC.
- One bedroom 4th floor apartment
- One year rental yield at 8%
- Located in the centre of Bradford
- Purchase price of £60,000
- Real potential for capital growth
- Choice of two furniture packs available
- Reserve for £1,000