Two Bedroom Apartment, Second Floor, Northgate House

British Pound 200,000

Two Bedroom Apartment, Second Floor, Northgate House Two Bedroom Apartment, Second Floor, Northgate House Two Bedroom Apartment, Second Floor, Northgate House Two Bedroom Apartment, Second Floor, Northgate House Two Bedroom Apartment, Second Floor, Northgate House
Highlights
Property details
Financials
Location

Planning has been fully approved and construction has commenced on these luxury turn-key property investments.

Each of the 54 apartments has been designed to optimise style and practicality with real wood floors, feature windows and high-end kitchens and bathrooms.

Northgate House Highlights

  • One bed apartments available from £144,500
  • Two bed, two bath apartments from £175,000
  • Completion due Q4 2019
  • Individually designed contemporary kitchens with integrated appliances
  • Stylish bathrooms with high quality fixtures and mirrored vanity cabinet
  • CCTV and electronic access control
  • 250 year lease with low ground rent
  • Lift to all floors
  • Secure underground parking & cycle storage
  • Communal green areas

Northgate House is a development of 54 luxury 1 and 2 bedroom apartments in the sought-after LS6 postcode of Leeds which is ranked as one of the UK’s top 20 highest-yielding buy-to-let hotspots by www.totallymoney.com.

Just 3 miles north-west from Leeds city centre, these luxury apartments offer high specification finishes, real wood floors, stylish bathrooms and fully fitted kitchens with integrated appliances (oven, microwave, fridge freezer, washer dryer, dishwasher). Each apartment also comes with a secure underground parking space which is generously included in the property’s purchase price.

Northgate House is situated in the suburb of Meanwood which immediately borders the LS16 postcode where many of the highest valued properties in Leeds can be found. With an abundance of nearby open spaces, and just a short walk away from neighbouring Headingley (which has hosted both world cup cricket and rugby games), it is easy to understand the area’s appeal.

Popular with the city’s growing professional population, the area boasts excellent road and nearby rail links and is experiencing increasing housing demand evidenced by a number of new residential developments in close proximity.

With Leeds Beckett University close by and many of the city’s other universities within a 2 mile radius, the area is also popular with students and Northgate House is likely to receive rental interest from the area’s affluent international students.

In immediate proximity, a Waitrose supermarket is situated just 150m from Northgate House which is of particular note given the recent research from Lloyds Bank which shows the "Waitrose Effect" is likely to have a positive effect on house price growth.

1 Bed Apartment Example
Property Price £144,500
Potential Annual Rental Income (7%) £10,115
Estimated Monthly Rent £843
Service Charge: £1.68 per sq.ft
Management Fees: 8%
Ground Rent - 1 bedroom £250
Ground Rent - 2 bedroom £300

Purchase Process

  1. Choose an apartment to buy
  2. Pay a £5,000 reservation fee
  3. Instruct solicitors
  4. Transfer 25% of the funds on exchange (within 28 days)
  5. Transfer balance, less reservation fee on completion

All monies are held only to order of progressed work on site and can only be released via certificate

The second largest employment centre outside of London, Leeds is the UK’s fastest growing city and has a diverse and thriving economy.

A major centre for banking and finance, the city homes over 30 national and international banks employing over 90,000 professionals whilst other major employers who have their headquarters based in Leeds include the likes of Asda and Capita.

A growing number of Digital and Media employers are basing themselves in Leeds perhaps the most notable being Channel 4 who chose Leeds over Manchester and Birmingham when relocating their head office in 2018.

The University of Leeds is the 5th largest in the UK whilst two other universities and a number respected academic institutes contribute towards a healthy student population of over 60,000.

All of the above has helped make Leeds a magnet for an affluent, young population of tenants with higher expectations and budgets for accommodation.

In the specific suburb of Meanwood, one bedroom apartments rent from upwards of £700pcm yet can reach much higher prices for modern properties with high standards.

In covering buy-to-let opportunities in Leeds, the website totallymoney.com say “For the highest rental yield, look within the LS6 postcode (7.43%). This area includes Headingly, a cool suburb with good commuter links to both universities.”


Location map:

Residential Property
2 Bedrooms
2 Bathrooms

Property summary


  • Luxury 1 & 2 bed turn-key property investments
  • Walking distance from multiple universities
  • Top 20 highest yielding buy-to-let UK postcode
  • Completion due Q4 2019
  • Purchase price includes secure underground parking
  • Reserve for just £5,000
  • Just 3 miles from Leeds city centre