This development features a fantastic collection of 55 studio apartments located right next to Leeds City Centre. Occupying an enviable position within walking distance of the city centre, university campuses and main hospital in the city, it is an ideal location for short term lets (STL’s).
With STL’s now becoming one of the most popular ways of renting properties out to encourage a much higher rental yield, investors will benefit not only from the higher yields generated from STL’s but also the fact that this building has tried and tested rental returns, a proven occupancy of over 85%, immediate rental income and a rental assurance of 6% net over a 5 year period.
All of this coupled with the fact that Leeds is one of the most popular areas for property investment in the UK makes it a very exciting prospect for our investors at a very appealing entry level of just £110,000.
An Introduction to Leeds
Leeds is a medium sized city located in West Yorkshire. With a population of 536,000 and a metropolitan population of just over 812,000, Leeds is the UK’s 5th largest city. Named as the unofficial capital Yorkshire, the city has a rich history. Also, being one of the main centres of the UK’s industrial revolution, it became a famous mill town know for its flax, ironworking industries, engineering and printing.
Its location is pretty much exactly halfway between London and Edinburgh and has multiple motorway links; The M1, M62 and A1(M). Leeds Railway Station is also one of the busiest within the country.
Leeds has the most diverse economy of all the UK’s main employment centres and has seen the fastest rate of private sector jobs growth of any UK city and has the highest ratio of public to private sector jobs of all the UK’s Core Cities. Furthermore, the city had the third-largest jobs total by local authority area with 480,000 in employment and self-employment. Leeds is also home to four prestigious universities.
Every year, students flock to the city to access some of the country’s finest education, sport, and art facilities. As a friendly, multi-cultural city, it is no surprise Leeds consistently ranks high in the university league tables. Henceforth, students can flourish and soak up city life for much more affordable prices than in other parts of the country.
Leeds – Home to Sports
In terms of sport, Leeds is also home to Leeds United, one of the UK’s most prestigious football clubs who currently play their football in the Championship. Furthermore, Yorkshire is the unofficial home of Rugby League with Leeds Rhino’s, the most successful Rugby League Club in the modern era, playing their matches at Headingly Stadium.
The other Headingly Stadium plays host Yorkshire County Cricket Club, often playing host to England Test and One Day matches. Also, the club has nurtured some greats of the game like Michael Vaughan, Joe Root & Geoffrey Boycott.
Fastest Growing City
As the UK fastest growing city, now is a great time to invest in Leeds. Just over 60% of rental in Leeds over the past year have been let to people below the age of 30, showing that the demand for rental in the city is still strong amongst the younger population. With the average age of a person owing their own property now sitting at 33, which is increasing all the time, it shows that there will be a very strong demand for rental property moving forward.