Archive for the ‘Buy-to-let’ Category

Nearly finished: Duke’s designer dream for Liverpool

Tuesday, January 5th, 2010

What do the Duke of Westminster, Kualar Lumpar and Liverpool have in common? The answer is Cesar Peli, one of the world’s leading architects famed for his designs for some of the world’s best-known skyscrapers including One Canada Square in London’s Docklands.

His most recent cloud-tickling structure is One Park West, a large apartment tower under construction in Liverpool’s Albert Docks retail and hotel quarter.

Grosvenor's One Park West development in Liverpool

Grosvenor's One Park West development in Liverpool

The development is being masterminded by the Duke of Westminster’s Grosvenor property development firm and when completed the 17-storey building will include 326 apartments from studios to three bedroom units.

And although Peli is probably proud of his latest design, he may be put out that one of his more famous ones – Kualar Lumpar’s Petronas Towers – was yesterday overtaken as the world’s tallest structure by Dubai’s much-vaunted The Burj Khalifa tower – at 825 metres high.

But unlike the £1m-plus apartments for sale at the Dubai tower, properties at One Park West are more affordable starting at £90,000 for a studio and rising to £400,000 for the largest three-bedroom units.

This may account for its apparent success. Grosvenor claims to have sold apartments off-plan worth some £25 million and rented out most of the 123 apartment completed on the project so far – an admirable result given the current economic woes in the region and the UK as a whole.

Building ambitions in Liverpool: The Duke of Westminster

Building ambitions in Liverpool: The Duke of Westminster

“Demand and new sales struggled during the first quarter of 2009, partly due to the availability of viable mortgage products and potential purchasers being nervous to take the plunge until they saw how the economic landscape was likely to pan out,” says Grosvenor’s Guy Butler.

“But in June we witnessed a change in the market, with an upturn in sales, which has resulted in an average of close to two sales a week since then.”

These figures mask an important point though – almost 70 per cent of sales on the development have been to landlords (rather than owner-occupiers), who have realised that One Park West is one of Liverpool’s few city-centre addresses ideal for upmarket professionals – rents being achieved range from £525 a month for a studio to £900 a month for the larger apartments.

Click here to find out more about the development and see pictures of the apartments.

Free help for landlords at Investors’ Days

Monday, November 17th, 2008

With the current turmoil and uncertainty in the economy, some landlords and buy-to-let investors are having a hard time and wondering how to cope with the situation. If you feel in need of a bit of extra help and want to find out how you can protect yourself during the credit crunch, there are free events taking place this month that could help with answers.

The Money Centre, one of the UK’s largest independent buy-to-let mortgage brokers, is running several free Investors’ Days, incorporating seminars and exhibitions designed with landlords in mind. On Tuesday 25th November, a free event is taking place at the Edinburgh Corn Exchange, from 10am–3pm.

On Wednesday 26th November, they’re heading to Belfast and will be running another free event at the Park Avenue Hotel in Belfast. Both days include an exhibition, running from 10.30am–3pm, plus a seminar programme from 11.30am–2.15pm (with a free buffet lunch thrown in, too).

The events are aimed at both seasoned investors, new buy-to-let purchasers and even those who are considering doing so. Some of the topics on the menu for discussion include the current economic situation, successful planning during the credit crunch, top secrets to renting, hints and tips for the portfolio landlord and aims for the future.

The seminars are also designed to help you learn key skills for dealing with letting during the credit crunch period. In fact, the Money Centre says it’s not all bad news for investors as there are ways of benefiting from the opportunities created by the credit crunch. With networking opportunities included too, it’s a good chance for investors to get together and tackle their concerns and issues head on.

To find out more, or book a place at either event, call 01603 489 12.

For more advice for landlords, take a look at our dedicated Landlords, Developers & Investors guides.