When Covid-19 hit the property market in mid-March 2020, investors everywhere held their breath in anticipation of a world wide property market crash. Mortgages from high-street banks bottomed out, exchanges and completions stalled across the country, and thousands of tenants were left in limbo about their employment situation after furlough—nobody knew what was happening!
Investors became increasingly concerned not just about the strength of their property portfolio's, but also about the prospect that they may need more regular income in the months to come. After lengthy discussions with the developer of Wishing Well, our Directors were able to offer a solution that would help ease the worries of our investors who were worried about the implications of Covid-19 on the UK property market.
Through Wishing Well, we were able to offer or investors 2-bedroom apartments in a high growth area for less than £100,000. The developer set these prices 15% below the current market value to alleviate any concerns that our investors had about the pandemic eating into their portfolio value. We decided that no mortgages would be permitted due to the increasing uncertainty of the mortgage market so only cash buyers could invest.
We also agreed to a pre-let tenancy on all 41 apartments so that any investors could begin earning rental income from day-1, helping to ease any investor concerns about cashflow through the pandemic.
By August 2020, just six months after launch, all 41 apartments had been sold mainly to domestic investors who saw the value and added security of investing in a completed development that generates immediate, regular income with no mortgage payments due. We're proud of this achievement and wish to congratulate the WW investors on their purchase.
The £5.5bn Liverpool Waters regeneration project features 2-million sq/m of development floorspace including 9,000 residential units, 315,000 sq/m of business space and 53,000 sq/m of hotel and conference facilities, making this one of Europe's largest development projects.
With a student population of around 70,000, with more and more overseas student enrolling each year, Liverpool is definitely considered one of the most loved student cities in the UK. Considered cheap for living, housing and entertainment, Liverpool delivers student nightlife in spades.
With billions of pounds worth of investment being pumped into Liverpool's economy, the affordability of housing in the city, market leading rental yields and millions of tourists travelling to the city each year, Liverpool is the UK's top property investment hotspot.
Bootle is experiencing a property boom with house prices rising faster than most places in the UK, with a value increase of 22% over the past 5-years (according to PropertyData).
The town, which gained a reputation for industrial decline and unemployment, has been placed 12th on a list of the country’s property hotspots, compiled by Halifax.This trend is expected to be carried by a further £33m of investment into the area from SAFE Regeneration - a community social enterprise and arts organisation - who have put together a masterplan of their vision to change a six-acre area on Merton Road, next to the Leeds and Liverpool Canal.
The proposed developments include 107 new homes, improved leisure facilities, a new microbrewery and a hub/business centre.
Whether you're an investor or an ethical developer with projects to market, we can help. Contact us today and let's get the ball rolling.