#47 – Luxury Student Apartments
Spread over a brand new seven-storey building, each apartment in #47 will be completely self-contained. With private kitchens, bathrooms, the development will be fully furnished and finished to an extremely high standard. Each luxury apartment also comes with its own balcony.
- Prices from £59,900
- 7% Net Rental Return
- Located in Leicester City Centre
- Roof Gardens and City Views
- Wealth of Communal Facilities
The city of Leicester has a rich heritage of industry, sport and culture with events and attractions to suit all lifestyles. With a population that is both young and diverse, Leicester is a vibrant and prosperous city. It has also been named among the hottest retail destinations in the UK according to Property Week. The East Midlands city has become a buy to let hotspot as the area grows in standing and reputation across the UK. Leicester is all about growth and the rise in average rent value is currently at 4.35%, while transaction value growth has been recorded at 2.63%.
Leicester’s rental prices have risen by 9% in the last five years. As of 2018, the city is second in the UK for rental price growth. Currently, the average rent per calendar month is £647. The average weekly rent is £149. The demand for buy to let property from potential tenants only looks set to increase, as the number of people looking for privately rented accommodation surged by 8% in March 2018 alone.
Leicester is benefiting hugely from regeneration projects and its dedication to the fostering and maintenance of innovative industries and technologies.
Leicester Waterside is the city’s main regeneration scheme. At the cost of upward of £200 million, the venture will bring an estimated 3,575 apartments, 500 student homes, Grade A office space and a business hub to the heart of Leicester.
Leicester’s Enterprise Zones offer 100% business rate relief and house some of the world leaders in automotive research, biotech, pharmaceuticals, bioscience, renewable energies and low carbon tech. A mixture of both new homes and workspaces, the project aims to bring out the hidden gem of Leicester. Once completed, this project is set to increase property prices across the city and improve the overall region.
Leicester Property Market
While cities such as Leicester are often overlooked for more significant property markets such as Manchester and London, the opportunity for growth is ever-expanding. Investors who take the time to educate themselves on the up and coming areas are sure to be successful with their next investment. Property experts predict that forgotten cities that are now adding their name to the property map will soon be a hotspot for investors.
The average rental yield in Leicester is an impressive 7.7%, which means investors won’t be disappointed with the success they reap. According to the likes of Home Track and Zoopla, the best areas to invest in Leicester vary according to what you want. The city centre is an ideal location if you’re wanting to market your property to students or working professionals wanting a city space. However, the western and eastern suburbs are also perfect locations due to being close to the motorway. Any investor should see the exciting future of Leicester as a chance to expand their portfolio and become one of the best in the business.