The Sorting Office – An exceptional residential development in Preston
The Sorting Office in Preston, Lancashire boasts high-spec properties fitted with the latest in smart technology and a luxurious rooftop garden.The building is a beautifully arranged building, retaining the character of the original brick build and seamlessly incorporating a state of the art extension and roof terrace. The development consists of 12 one-bedroom apartments, 16 two-bedroom units and three-bedroom flats. The development epitomises luxury living and will provide its tenants with modern top of the range amenities, including high end fixtures and fittings, bespoke designer kitchens, fob access technology, SMART heating systems and private garden balconies or terraces. Each apartment comes with its own private and secure car parking space.
The building benefits from a highly desirable location in central Preston near a perfect town centre and Avenham park, only minutes from Preston train station, all amenities and transport links. There is an average of 72 trains per day departing from Preston to Manchester Piccadilly, with only a 40 minute journey. The Sorting Office is just one of many historic, graded sites in the north-west that The Heaton Group is in the process of transforming.
Using HG Smart Technology, investors, landlords and tenants alike are able to combat rising energy prices, manage contracts and monitor usage levels using smartphone technology. The Sorting Office is perfectly located for the influx of young professionals seeking to live and work in the thriving City of Preston and boasts the City’s first communal rooftop garden for the exclusive use of its residents. With an assured yield and high potential for capital appreciation, it is the perfect opportunity for build-to-rent investors.
These high-yielding ‘smart homes’ offer simpler management, lower costs and smarter rental options. The use of modern, low-carbon technologies means that the development will be one of the city’s most energy efficient developments, with a benefit to investors of an enhanced rental yield and future-proof investment.
- Prices from £125,000
- 7% Net Yield for 1 year
- Located in Central Preston
- High-spec 1,2 and 3 bedroom apartments
- Few minutes walk from the Preston Train station
- 0.9 miles from Preston City Centre
- 0.8 miles from University of Central Lancashire
- Developed by Heaton Group
- Completion Date: 2019
Preston – UK’s Next Property Investment Hotspot!
Preston is the commercial and administrative centre of Lancashire with an excellent transport network that makes it a popular choice for a variety of businesses. The city is undergoing a substantial £434m inward investment programme to create new jobs, grow the economy and improve transport infrastructure. The city is also located on the West Coast Main Line providing great access to the North West of England. With the optimism that surrounds the city, Preston hopes to position itself as the third most popular destination in the North West, joining Manchester and Liverpool as strong contenders for investment and city living.
Investors and residents will have much to look forward to over the next few years as Preston and surrounding areas within Central Lancashire will enjoy an increase of £1 billion to the local economy through future investments. With students turning into permanent residents of the city due to its regeneration projects, it’s clear to see that the city is turning into an exciting place to live and study, driving up the demand for property investment in Preston.
The Sorting Office is a fully managed property investment opportunity located in central Preston, with the whole project being developed by Heaton Group from build through to management of completed apartments. The properties are offered at a discount to the independent RICS Valuation provided, with a 5% discount for mortgage investors and a 10% discount for cash buyers. Cash buyers have the option of taking a fixed return of 7% NET, assured for the first 12 months. Alternatively, mortgage investors can leverage cheap borrowing costs to amplify year 1 cashflows to 13% or 14% depending on the unit chosen
There’s no denying that this bustling, vibrant city is up there with other major players, making it a property hotspot for investors to increase their portfolio of rental properties or for young professionals who are looking to buy their first home.
“Eastham reports that gross rental yields typically vary from 6-8%, but insists that the “potential for capital growth” in the local housing market remains the “the biggest factor” at the moment in Preston.” ( Johnston Publishing Ltd).
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- Private Garden Balconies or Terraces
- SMART Heating Systems
- Smart Technology
- High End Fixtures and Fittings
- Bespoke Designer Kitchens
- Branded Management
- Flexible Billing
- Fob Access Technology
- 0.8 miles from University of Central Lancashire