A development offering promising returns has launched in Liverpool as the famous old port city’s property market remains resilient in the face of the coronavirus pandemic.
Alesco Investment Properties has been appointed as exclusive agents on Bishop Square in Liverpool, which boasts 105 luxury apartments only minutes from the city’s iconic centre, priced at 20% lower than the market average.
The Liverpool buy-to-let property market remains buoyant despite the pandemic, with average rental yields at 9.9%. This is 6.3% above the UK average, according to Rentround.
Alseco says Bishop Square represents an excellent opportunity for any investor’s portfolio, with expected yields of up to 8%. Teamed with the recent stamp duty cuts, the firm insists now is the ideal time to invest.
The development offers a professional management service allowing investors to rent out their homes as short-term lets and serviced accommodation.
Matthew Fawl, managing director at investment specialists Alesco Investment Properties, said: “This vibrant development is going to appeal to buy-to-let investors looking to tap into the strong returns from renting city apartments to young professionals, who love the bustle of Liverpool’s city and its docks and who are moving away from the capital in the light of Covid-19.”
He added: “Some 20% of our recent investors in Liverpool have been Londoners looking to secure a property in Liverpool due to the low property prices and higher yields, while having peace of mind that the apartments are serviced if investors are not local to the development.”
“We are proud to be the exclusive agents on another impressive Liverpool scheme. Following the sales success we saw at Elevate, we are expecting high demand for Bishop Square in the coming weeks.”
Bishop Square is set to offer a mix of studios, one and two-bedroom apartments, all offering contemporary living spaces on the edge of Princes Dock. Landscaped podium gardens and outside seating space perfect for social distancing are also included.
Inside, the apartments will all benefit from a high specification, with keyless and CCTV-monitored entry to all buildings. What’s more, luxury furniture packages will be available, starting from £2,499 for a one-bedroom apartment. These include comfortable soft furnishings, chrome ironmongery and walnut laminate flooring.
The city centre of Liverpool – famed the world over for its industrial, football, music and cultural heritage – will only be a 10 minute walk for residents, with a ‘vibrant shopping district’ and the increasingly hip docks area likely to be a significant draw.
Alesco describes serviced accommodation as the fastest-growing asset class in Europe, with the returns generated from a serviced apartment let on a short-term basis said to outweigh those of a traditional buy-to-let purchase, with earnings averaging between 30-35% based on 75% occupancy levels.
Under such projections, investors could be expected to double their returns in comparison to a traditional long-term let. Alesco also claims that the increased demand for serviced apartments would make the apartment simple to sell should an investor ever wish to do so.
Alesco was founded in 2016 by property investment experts with more than 20 years of experience in the field, and the company is one of only a handful of trusted agents to sell homes within Bishop Square. This follows the firm’s recent success at Elevate, another Liverpool development that sold out in less than a week.
Prices at Bishop Square start at £99,000 for a studio, £117,000 for a one-bedroom apartment or £181,000 for a two-bedroom apartment. The development is scheduled for completion in Q3 2022.
You can find out more at https://www.alescoproperty.com/ or by calling 0203 819 7366.
<!– –> This post has originally been featured in Property Investor Today.