THE GALLERY AT THE QUARTER
1
• Rental assurance of 6% NET in place for the first 5 years • Completed development only a mile from Liverpool Marina • All units 100% let • Part of a five-phase development in the heart of Liverpool’s waterfront community • On-site caretaker’s office • Managed by X1 Lettings
Investment Highlights
Knight Knox International provides the information contained within this document as a general guide. This information does not constitute an offer or a contract and we (or anyone in our company) do not imply, make or give any representation, guarantee or warranty whatsoever relating to the terms contained within. Any intending investor must satisfy themselves as to the correctness of any of the statements, plans or images contained within. Images are for representational purposes only. The content contained within is correct adhering to the previous statement at the time of publishing.
3
The Gallery at X1 The Quarter
A
five-phase development in the heart
of
Liverpool’s
waterfront
community,
X1 The Quarter is designed to be one of
the
most
in the city.
sought-after
addresses
Located on a prime piece
of land only a mile from the docks, residents of
all
are that
including
within
walking
Liverpool
restaurants,
has
distance to
bars,
offer,
museums
and retail outlets, in addition to being accessible
by
all
forms
of
public
transport. The
Gallery
(phase
1)
is
already
built, 100% let, and attracting a huge amount
of
interest
from
investors
due to its ideal location and the huge amount of rental demand in the local area.
The Gallery
Phase 3 Phase 5
Phase 1
Ariel view of phases 1 to 5
Phase 4
Phase 2
5
The Gallery at X1 The Quarter
Located area X1
in
of
the
picturesque
Liverpool,
The
Quarter
apartment
The
is
a
block,
waterfront Gallery
fully
at
tenanted
offering
investors
the opportunity to own a prime piece of
real
estate
in
one
of
the
most
sought-after locations in the city. Already
built
and
100%
let,
investors
expect
an
immediate
income
and
have
experienced
reassurance onsite
company,
X1
providing
assistance
including management building.
for
the and
of
in
place, residents,
maintenance, letting
total
of
83
apartments
of
the
the
Merseyside
Maritime
Museum;
split into 5 one-bed studios, 32 one-
residents are also only a ten minute
beds, 33 two-beds and 13 three-beds
walk from Liverpool city centre, home
spread over six floors, residents enjoy
to a host of restaurants, eateries and
some of the most spectacular views in
shops
Liverpool,
UK’s fifth largest retail centre.
to
from
its
breath-taking
bustling
city-centre
sunsets
over
With
“5.5% population growth in Liverpool” Only
a
population
the
past
welcoming
growth
decade
more
than
and
of
five
million
passengers
annually
through
doors
Liverpool
John
of
5.5%
regularly the Lennon
only to Manchester in the North West,
walk from Albert Dock, home to a host
making it one of the most competitive
of
residential markets in the UK.
Beatles
Story,
from
the
Lennon Airport and just a 15 minute visitor
away
ONE,
Airport, the city’s population is second
unique
miles
Liverpool
John
The
seven
including
the in
an
management
Lettings,
a
iconic river Mersey.
can
the
Containing
attractions Tate
including
Liverpool
and
7
The
traditional
the
UK’s
buy-to-let
regional
market
cities
is
in
beginning
to show strong signs of recovery. For the past 3-4 years, the buy-to-let and off-plan
market
unprecedented due
to
London
growth,
the
investment
in
large
that
in
amount
has
has
seen
the
main
of
poured
foreign
into
the
Once
considered
cow’ the
of
any
property
market
themselves assets
the
crashed, having
into
proverbial
‘cash
portfolio,
when
landlords
to
alternative
So is buy-to-let investment?
still
a
‘safe’
found
diversify
their
No investment can ever be considered
as
safe, but there are certain sectors, like
investments,
a way to maintain control over their
buy-to-let,
funds - but the market is beginning to
your
turn!
property
where
risk.
you
can
minimise
a
buy-to-let
Purchasing
is
once
again
being
viewed
as a way to generate a positive cash
city.
“By 2020 it is estimated that 1/3 of the population will be a private tenant” Continuing
on
Liverpool rental due
is
one
markets to
a
from of
outside
severe
this
trend,
the of
strongest
the
shortage
capital,
of
new-
build stock for at least the past five years,
providing
opportunity
to
of a market cycle.
investors purchase
at
with
the
the
start
The demand for rental accommodation
flow on your investment, as income is
in the UK is the highest it has ever
generated not only on rent, but from
been, as the continued rise in house
the capital appreciation gained on the
prices
ensures
property from the start.
cannot
afford
onto
the
tenants
that to
first-time
take
property
are
for
accommodation,
which
they
can
straight
into,
without
waiting
for
it
to
first
ladder.
looking
rental
repaired.
that
in
be
step
Instead,
So why choose off-plan?
high-quality properties
essentially the
buyers
move
The
UK
has
lack
of
construction
experienced in
a
serious
regards
to
hassle
of
residential stock in its regional towns
redecorated
or
and cities for the last 5-6 years,
About Buy-to-let 9
which
means
which
will
classed
as
reaching As
that
properties been
are
now
around
anniversary.
charge
10-year
age,
they
require
more
maintenance to keep them at a level regarded
as
the
minimum
accommodation,
at
particularly
city a
centres,
premium
rates
on
which
in
or
landlords
can
their
are
property,
currently
not
achievable for existing stock. Buy-to-let
in rents as landlords try and re-coup
becoming
some of the money they are having to
investment than they have ever been,
pay out.
due
to
lettings that
construction
to
pick
up
start
of
a
pace,
are
we
are
wave
of
at
improved
‘hands-off’
quality
management the
the
again
In
direct
response
new-build,
city
Gallery
first
fully
after
and,
have
launched
knowledge
that
is
minimal
maintenance
required on the property for at least to-let is actually a cheaper option in
be
the long-term for any savvy investor.
opportunities
locations in the UK.
The
the
Keeping
best-value once
buy-to-let
This
the first couple of years; off-plan buy-
2013/2014.
the
have
to our investors, in some of the best
their
off-plan
until
we
that
looked
the be
of
agencies
property.
confident
being
with
should
increasingly
more
landlords
tenants there
the
maintain
leaves
begins
a
are
developments, many of which will not complete
new
industry
properties
and
coupled the
sourcing
properties, residential
required by tenants, leading to a rise
As
Constantly
extended our portfolio to bring off-plan,
standard
“Number of households in the PRS have increased by 28% since 2007”
“Private rental stock now worth an estimated £898 billion”
in mind tenant demand for new-build
have
‘new-build’,
their
properties
many
previously
already
location.
at
to
the
centre X1
The
tenenated this
high
in
demand
for
accommodation, Quarter
is
the
development
we
year this
and
interest
sought-after
About Buy-to-let
11
The Liverpool Buy-to-Let Market According to property research specialist Savills, the results of the 2011
census show that the number of households across England and Wales in the Private Rented Sector (PRS) grew to 4.2 million between 2001 and 2011, accounting for 18% of the market and further highlighting that Britain is increasingly becoming a nation of renters. Translate these figures down to a regional level and the figures indicate that the number of households in the PRS in large urban markets grew by an average of 77% in the period from 2001, with Liverpool recording a staggering growth of 79% as the number of households rose from 28,513 in 2001 to 50,987 in 2011. As of January 2013, Liverpool City Council estimates that more than 50,000 households rent privately in the city and that the rates of private rental accommodation have grown above the national average. As such, Liverpool has taken a proactive approach in regards to raising standards in the sector, by setting up services such as a landlord accreditation scheme (CLASS), private landlord’s forum and tenancy bond scheme, as it recognises the valuable service that landlords are providing by meeting the city’s housing needs.
1.7M
Approx. 1.7m additional private rented units will be required in the UK by 2016, which implies annual investment of circa £57bn
£
Average rents in the 5 main urban markets of Liverpool, Leeds, Manchester, Bristol and Birmingham for 2-bed properties have risen by an average of 2.5%
Currently fully tenanted, The Gallery at X1 The Quarter is a fantastic opportunity for anyone seeking a prime buy-to-let proposition in one of the most sought-after locations in Liverpool. Comprised of 83 apartments, these studios, one, two and three-bed apartments are fully furnished and offer investors an assured NET yield of 6% for the first 5 years. • • •
Investment Scenario
1-bed apartments 2-bed apartments 3-bed apartments
Purchase price: £94,950 Size: 42.63sqm Est. monthly rent: £625 Est. annual rent: £7,500 Est. maintenance fee: £1,000 Est. management fee: £600 Est. ground rent: £250 Est. NET income: £5,650 Est. NET yield: 6%
1/3
(typical after 5-year rental assurance) Figures are based on forecasts provided by the developer and are subject to change. Any financial information provided in this document is intended as a guide and does not constitute a contract.
£94,950 £114,950 £139,950
By 2020 as much as a third of the population could be private tenants
25%
Number of PRS households in the 5 areas have risen by 77% in 10 years, such that they account for 23% of all households
23%
2001
2011
13
1 Bedroom
ÂŁ94,950 New one bedroom apartments in a purpose built development on the doorstep to the city and the vibrant L1. The apartments are built around a central atrium and most have parking. The accommodation comprises : hall, open plan lounge with fitted kitchen, picture window, one bedroom, bathroom and electric heating. The property has the additional benefit of various views of the city, Albert Dock, the Liver Building and L1.
1 Bedroom
ÂŁ93,000 This home is ideal for those wanting to be near university life, whilst at the same time being within walking distance of Liverpool ONE retail development. Reduced for a limited period, this is an excellent opportunity to buy a home or an investment property in the heart of the City.
1 Bedroom
ÂŁ99,950 New one-bedroom apartments in a purpose-built development on the doorstep to the city and the vibrant L1. The apartments are built around a central atrium and most have parking. The accommodation comprises : hall, open plan lounge with fitted kitchen, picture window, one bedroom and bathroom.
Information taken from RightmoveUK on 19/08/2013
Local Comparables 2 Bedroom
ÂŁ125,000 The property is located within easy reach of facilities and amenities in Liverpool city centre and has excellent transport links to various districts throughout Merseyside. The accommodation briefly comprises entrance hall, lounge, fitted kitchen, two double bedrooms and a bathroom. Property benefits from double glazing. Externally there is allocated parking.
2 Bedroom
ÂŁ144,950 A two-bedroom, first floor apartment situated on Granary Way. From the private access door, stairs bring you to the accommodation which briefly comprises an entrance hallway leading to an open plan lounge through to a fitted kitchen with ample work surface space and fitted units. Furthermore there are two double bedrooms and a contemporary tiled shower room.
2 Bedroom
ÂŁ119,950 The Anchorage is a sought-after modern development, with this particular apartment looking out over Liverpool Yacht Club and briefly comprising a communal entrance hall leading to the private inner hall, which in turns provides access to the bright accommodation. Consisting of a large open plan living room/dining room, a separate fitted kitchen, two double bedrooms and a family bathroom suite.
15
A
former
European
City
of
Culture
and major tourist destination; with its breath-taking
waterfront
and
bustling
city centre, Liverpool is a global hub for and
a
multitude
professionals,
of
tourists,
all
residents
seeking
a
place
in this thriving metropolis .
of
the
destinations attracts
in
people
top
UK,
from
holiday Liverpool
around
the
globe, a fact highlighted by the more than
five
were
welcomed
of
million
Liverpool
passengers
through John
the
Lennon
who doors Airport
in 2011. In addition to being a major tourist hub, the city is also a centre for commerce;
it
is
home
to
the
fifth
largest
retail
over
3,000
In a bid to counter the rising demand from
hosts a hoard of high street names.
Liverpool 5,000
The is
influx mirrored
visitors
who
of
tourists
by
the
have
into
vast
the
number
become
private new
tenants,
has
with
statistics
of
that
the
the
pledged
homes
city
in
from
average
Mayor to
the Shelter
single
of
deliver city
and,
revealing person
in
permanent
the city needs nine years to save the
increasing
deposit for a house, while the average
amount of strain on the city’s housing
couple need four years, this influx of
market.
properties are likely to be needed for
placing Rental
an
stock
in
Liverpool
grew by 79% between 2001 and 2011
five
the
and
centre in the UK - Liverpool One, which
residents,
“European City of Culture 2008” One
businesses
rental stock.
however; this bank of just over 50,000
“5,000 new homes pledged”
properties is struggling to supply the city’s
growing
populace,
which
has
surged by 5.5% over the last decade
In answer to this rising demand, The
to stand at 466,400.
Gallery is the perfect example of the
“Liverpool rental stock grew by 79% between 2001 and 2011”
type
of
stock
available
refurbished
forthcoming years.
to
and
investors
new-build over
the
About Liverpool
17
6. Liverpool Central Station
7.
8. 4.
5. 2.
City Centre
3.
Albert Dock
Liverpool Marina
1.
THE Gallery
1. Waterfront – 5 minute walk 2. Albert Dock – 15 minute walk 3. Liverpool ONE Shopping Centre – 16 minute walk 4. Merseyside Maritime Museum - 18 minute walk 5. Tate Liverpool – 20 minute walk 6. Liverpool Central Station – 22 minute walk 7. Liver Building – 24 minute walk 8. Mersey Tunnel – 25 minute walk
DISTANCE TO MAJOR UK CITIES
Manchester – 37 miles
Leeds – 73 miles
Birmingham – 102 miles
Dublin – 173 miles
London – 214 miles
Map
THE Gallery
19
Frequently Asked Questions
AM I BUYING AS FREEHOLD OR LEASEHOLD? 250 years leasehold
WHAT IS THE ADDRESS OF THE SITE? The Gallery, 14 Plaza Boulevard, Liverpool L8 5RS
ARE THERE TENANTS ALREADY IN PLACE? Yes, the development is fully tenanted, allowing you to receive an immediate income on your investment
WHAT ARE THE PROJECTED ANNUAL RETURNS ON THIS PROJECT? There is a rental assurance in place for the first five years of 6% NET
CAN I RECEIVE FINANCE ON THIS DEVELOPMENT? No finance will be available until 6 months after purchase
WHEN IS MY RENTAL INCOME PAID? This is paid quarterly in arrears direct into your bank account from completion
IS THERE A MANAGEMENT COMPANY ALREADY IN PLACE? X1 Lettings has taken over the management of the site and there is a caretaker’s office located on the ground floor of the building.
CAN I RESELL MY UNIT? Yes, you can sell at any time after exchange of contract
ARE THERE ANY RESTRICTIONS IF I WANT TO SELL? No, The Gallery is a residential development so you are free to sell your unit on the open market as a buy-to-let apartment
21
• Once
your
selected
unit(s)
with
property complete
the
has help
consultant, the
been
this should you require assistance,
time of exchange you will also be
your
as
required to sign and return your
of
please
we
have
recommended
reservation
experienced
a
solicitors in
agreement and return along with
let
a copy of your passport, recent
transactions.
selection who
handling
accommodation
of are
on the reservation agreement. are
required
to
you
are
unable
to
investment
solicitor will be able to act as your Power
of
Attorney.
Please
note
that your solicitor may charge a •
Your solicitor will advise you of the
fee for this service.
paperwork they will require from you.
• You
If
do this due to your location your
utility bill and your deposit. The bank transfer details will be found
contracts.
buy-to-
pay
a
Please
return
this
promptly
to reduce the risk of delays.
• After
you
contracts
reservation deposit.
you
have will
exchanged receive
a
welcome letter from the developer payment
which will detail the future service
Consultant
• Your
will be made when you exchange
they will provide and include all
has confirmed they have received
contracts. Your solicitor will inform
contact details.
your paperwork, you will need to
you when they have the date for
instruct a solicitor. Your consultant
exchange
providing
will be on hand to help you with
adequate
notice
• Once
your
Property
Purchase Process
first
installment
you
period,
with
an
at
the
• Your
final
payment
will
when construction completes.
be
due
STAGE 1 STAGE 2 STAGE 3
Reservation form and deposit of ÂŁ5,000
Solicitor instructed, legals and sales pack sent out
Remaining balance due on completion
23
We
are
a
long-standing
company,
founded in 1997 (a LTD company since 2004) with an excellent reputation. We of
have over
property
a
large
experienced
30
staff,
with
experience
a
of
team
collective
more
than
200 years. Knox
1,000
properties
International a
year,
sell
with
over
a
total
value of over £100 million. have
products
Knox
partner
network
International of
over
has 200
a
offices
worldwide. We sell property in over 50 countries worldwide and have local expertise on the ground in every location. We cater to all types of clients, from
Knight
We
Knight
that
exclusive are
market-leading
hand-picked
proven
investments that sell in volume. We are one of very few companies to experience ‘full market cycles’
first-time helping
buyers build
to
large
property
investors,
portfolios
and
establish good income returns. Most of all, our clients buy with us again honest,
and
again
experienced,
because professional
market the best opportunities.
we’re and
My husband and I have bought many properties now through Knight Knox International. We have a decent portfolio and will no doubt buy more properties with them over the coming years. Mr and Mrs Lowe, Hong Kong
About Knight Knox International 25
About The Developer X1 Developments is an investment company based in the heart of Liverpool, which meets the needs of UK and overseas investors looking for an organisation that
offers
exceptionally
high
quality
investments,
which
have
been
selected
and overseen by individuals who have unrivalled knowledge, experience and background in the product, market sector and location. Not
only
does
X1
Developments
offer
an
exciting
portfolio
of
real
estate
investments, but it also offers a follow-through service via its sister company X1 Lettings, which carries the same high level of expertise in order to manage and protect our clients long term investments. X1 Developments is THE Company for anyone looking to invest in Liverpool & throughout the U.K, with a track record of past developments which speaks for itself. Download the new X1 Developments app from the Apple Store for further details on all X1 projects, including images, movies, panoramas and detailed descriptions.
*Only available through the Apple store
LD
SO T!
OU X1 Salford Quays, Phase 2, Manchester X1 Chapel Street, Manchester A brand new student accommodation development within walking distance of Manchester’s Universities, this four-floor building will contain 90 en-suite studios and 3 en-suite penthouse flats. Located in an area undergoing a huge amount of regeneration, students living at X1 Chapel Street are within 10 minutes of the city centre and close to all local facilities and amenities.
Following on from the fantastic success of Phase One, investors can now purchase one and two-bed apartments in the second phase of X1 Salford Quays. The four-storey, 60-unit apartment minutes of Manchester City Centre new MediaCityUK in Salford Quays.
block is within and the exciting
Investors will recieve an assured return of 6% NET yield for 5 years from completion.
Register your interest today!
Investors will receive 8% assured NET rental yields for 5 years. Completion Date: Summer 2014
27
Market Leaders in Worldwide Property Investment +44 (0)161 772 1370
0514V2