Lucent Square Brochure

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LEEDS:

MACRO OVERVIEW Leeds is one of the six cities set to benefit from the GBP7 billion Northern Powerhouse initiative, which aims to boost the economy and infrastructure of the country as a whole. Leeds is outpacing other regions with the city’s GVA forecast to expand by 2.0% annually from 2018 to 2022, above the 1.7% Northern England average.

Sources: JLL

LUCENT SQUARE

ECONOMY

LEEDS’S ECONOMY HAS GROWN 40% OVER THE LAST DECADE, AND IS CURRENTLY WORTH GBP18 BILLION, PREDOMINATELY DUE TO THRIVING INDUSTRIES AND A GROWING POPULATION.

Fastest growing legal sector in the UK, with a 20% increase in legal jobs from 2010-2016 versus just 5% in London

Accelerated growth in the tech, media and telecom industries with 96% more dedicated office space to this sector since last year – more than any other Northern Powerhouse city

One of the largest finance and professional services hubs outside London, with over 30 domestic and international banks within its borders

65,000 student population, with a 30% graduate retention rate

Known as ‘Knightsbridge of the North’, Leeds is one of the Top 5 UK Retail and Tourism destinations with 26 million visitors annually

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ECONOMY

REGENERATION HIGH SPEED 2 (HS2) RAIL NETWORK

JOURNEY TIMES TO MAJOR UK HUBS WILL BE DRASTICALLY REDUCED.

LEEDS TO BIRMINGHAM (completing in 2033)

LONDON

HEATHROW

57 min

(previously 1 hr 56 minutes)

1 HR 21 min

(previously 2 hr 9 minutes)

1 HR 38 min

(previously 3 hr 12 minutes)

• Expected to add GBP54 billion to the regional economy by 2050 • Leeds station will undergo a proposed GBP500 million revamp with over 3 million sqft space for new shops, restaurants and offices • 300,000 jobs are expected to be created through the Leeds City Region HS2 Growth Strategy plan

SOYO

• GBP300 million scheme with 685,000sqft of office, leisure, residential and retail space • A new and vibrant cultural hub for Leeds, completing in 2022

SOUTH BANK REGENERATION

• A GBP350 million investment, and one of Europe’s largest city centre regeneration initiatives • The 185-hectare scheme plans to double the size of the city centre

• Development of a new GBP57 million Leeds City College campus

NEW BRIGGATE

• GBP12 million regeneration scheme in the city centre’s Grand Theatre Quarter

• Expected to create 35,000 new jobs • Proposed location of the HS2 station Sources: Leeds City Council, Centre for Cities, HS2.org, Financial Times

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SUPPLY

DEMAND

DESPITE THE INCREASE IN COMPLETIONS IN RECENT YEARS, HOUSING SUPPLY HAS NOT REACHED THE MINIMUM TARGET LEVELS.

THE CITY’S POPULATION GREW TO OVER 800,000 PEOPLE IN 2017. THE POPULATION IS FORECAST TO GROW TO 860,618 IN 2028.

DWELLING COMPLETIONS 2009 TO 2016 -

POPULATION GROWTH -

3,366 new dwellings are required per year until 2033 to meet demand.

Total dwellings built

Population growth

Target

Population forecasts

Sources: Leeds AMR 2013, AMR 2016 Sources: JLL, Leeds CSSR 2018, ONS

THE WORKING AGE POPULATION HAS EXPERIENCED 10.2% GROWTH FROM 2010 TO 2017. LEEDS HAS SEEN THE HIGHEST RATE OF PRIVATE SECTOR JOBS GROWTH IN THE UK. PRIVATE SECTOR JOB GROWTH IN 2017 8

6

4

2

Sources: JLL, Leeds CSSR 2018, ONS

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SALES MARKET

RENTAL MARKET

A LARGE POPULATION OF RENTERS, PARTICULARLY IN THE CITY CENTRE, ARE PUSHING RENTS UPWARDS.

AVERAGE RENTS -

RENTAL GROWTH FORECAST -

LEEDS SAW 29.6% HOUSE PRICE GROWTH FROM 2012 TO 2018. 19.9% HOUSE PRICE GROWTH IS FORECAST FOR LEEDS BETWEEN 2018 AND 2022.

Source: SHMA 2017

HOUSE PRICE GROWTH -

HOUSE PRICE GROWTH FORECAST -

• 73.3% of households in the city centre are privately rented, against the 19.9% Leeds average • Low vacancy rate of 2.5% • 4.5-4.75% average yield for buy to let properties

UK

Leeds

Leeds

UK

Sources: SHMA 2017, JLL, Zoopla

Sources: JLL, ONS

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THE AREA

E US O DH

With plans to redefine how the people of Leeds live, work and play, SOYO, located to the east of the city centre and south of York Road, will form an exciting and happening new community space for Leeds’s growing city centre.

1 A6

SO YO

O O W

A58

LN

SERVIA H ILL

LE I

CE

ST

ER

PL

A 66 0

PI

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CLARE

NDON

AY CL

A61

RD

LN

—

ARENA QUARTER KNOWLEDGE QUARTER

B U RL

SKIN NER LN

CIVIC QUARTER

EY ST

— Just five minutes walk from Lucent Square, the neighbourhood will include trendy bars, restaurants and lots of green space.

Incorporating the existing Cultural Quarter, which is already home to notable employers and institutions, SOYO is set to become one of the city’s most desirable areas.

QUARRY HILL THE HEADROW

8 A5

SO YO

SHOPPING QUARTER

LN

CENTRAL BUSINESS DISTRICT

SH

W E LL IN GTON ST

M

R A

THE CALLS

14 TER LN WA

O IN T

SOUTH BANK CENTRAL

1

RD

A6

N W O R C

P

15

A 66 0

LN

THE AREA AY

PI

T

A61

CL

N

19 14

ARENA QUARTER

THE AREA

200m

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KNOWLEDGE QUARTER

SKIN NER LN

Lovell Park

1

QUARRY HOUSE/SOYO

2

NORTHERN BALLET

3

LEEDS COLLEGE OF MUSIC

4

BBC LEEDS

5

WEST YORKSHIRE PLAYHOUSE

6

BUS STATION

7

JOHN LEWIS

8

LEEDS KIRKGATE MARKET

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VICTORIA LEEDS

10

ROYAL ARMOURIES MUSEUM

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THE GRAND THEATRE & OPERA HOUSE LEEDS

12

FIRST DIRECT ARENA

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TRINITY LEEDS

14

LEEDS BECKETT UNIVERSITY

15

O2 ACADEMY LEEDS

16

THE HENRY MOORE INSTITUTE

17

LEEDS ART GALLERY

18

LEEDS TOWN HALL

19

UNIVERSITY OF LEEDS

15 Leeds Teaching Hospitals NHS Trust

CIVIC QUARTER

18

17

11

16

A64 THE HEADROW

9

CENTRAL BUSINESS DISTRICT

SHOPPING QUARTER

7

5

8

(M)

QUARRY HILL 1

LUCENT SQUARE

4 3

6

2 SH

LN

13

R

W E L L IN GTON ST

A M

Leeds railway station

THE CALLS

TER LN WA

N W O R C

T LL S HA RS MA

HOLBECK URBAN VILLAGE

PROPOSED HS2 CORRIDOR

P

A61

LEEDS DOCKS

SOUTHERN GATEWAY

T ST W

1 A6

A 653

H RD

1

10

O IN T

SOUTH BANK CENTRAL

RD

A6

TRAVEL TIMES York Rd/ Marsh Lane Bus Stop: 1 min Quarry House/SOYO 5 mins

Victoria Leeds/ John Lewis/ Leeds Kirkgate Market 14 mins 4 mins 5 mins

Trinity Leeds: 5 mins 6 mins Leeds train station: 5 min 8 min

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University of Leeds Leeds Art Gallery Leeds Town Hall O2 Academy Leeds Train Station Leeds Trinity Victoria Leeds

Leeds Grand Theatre

BBC Leeds Kirkgate Market

John Lewis

Northern Ballet

Quarry House/SOYO

Lucent Square

O O W

1 A6

E US O DH

COMPARABLES

A58

LN

SERVIA H ILL

LE I

CE

ST

ER

MABGATE GATEWAY BLOCK A & B PL

1 beds: GBP125-154k (258psf) 2 beds: GBP170-281k (268psf)

NDON CLARE

CL

AY

PI

T

A61

RD

LN

A 66 0

TATE HOUSE 1 beds: GBP165-170k (279psf) 2 beds: GBP179-289k (263psf)

SKIN NER LN

42 PARK PLACE 1 1 1 1 B U RL

bed: bed: bed: bed:

GBP147.5k (343psf) GBP157.5k (337psf) GBP165k (340psf) GBP165k (345psf)

EY ST

A64

ST PETER’S HOUSE

THE HEADROW

QUAY

bed: bed: bed: bed:

GBP165k (337psf) GBP170k (317psf) GBP165k (434psf) GBP185k (325psf)

LUCENT SQUARE LN

8 A5WHITEHALL

1 1 1 1

(M)

2 bed: GBP200k (387psf) W E LL IN 2 bed: GBP242.5k (341psf) GTON ST

R

SH

1 beds: GBP145k-165k (258psf) A 1+1 beds: M GBP160k-215k (226psf) 2 beds: GBP185k-251k (230psf)

A

RD

61 HALL ST PETER’S O IN T

ARTHUR'S FOLD 1 beds: GBP123-177k (378psf) 2 beds: GBP211-250K (335psf)

N W O CR

TER LN WA

A61

T LL S HA RS MA

HOLB EC K L N

P

1 bed: GBP155k (287psf) 1 bed: GBP167.5k (291psf) 2 bed: GBP295k (288psf)

DOCK ST 1 bed: GBP163k (337psf) 2 bed: GBP255k (388psf)

SWEET ST W

1 A6

THE QUAYS

A 653

NINEVEH RD

2 bed: GBP255k (300psf) 2 bed: GBP390k (402psf) 2 bed: GBP375k (335psf)

WATERMAN'S PLACE 1 1 2 2

bed: GBP163k (322psf) bed: GBP167k (330psf) bed: GBP230k (305psf) bed: GBP240k (326psf)

New build: New developments currently selling off-plan Completed re-sales recorded on Land Registry

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THE DEVELOPMENT

LUCENT SQUARE

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On the back of a strong structural design and modern minimalist aesthetic, Lucent Square focuses on the essentials of living: space, light and nature. The development will have balconies on most units and is in close proximity to many amenities, major employers and transport links.

Computer generated images are intended for illustrative purposes only

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THE DEVELOPMENT

FEATURES

Specifications

Bathrooms

• Wood internal doors with ironmongery in brushed chrome

• Bath with shower (where the plans allow a bath otherwise only a shower)

• Walls painted in magnolia

• WC with flush

• Skirting boards and architrave painted in white gloss

• Basin with vanity unit

• Door numbers on each apartment door • Numbered post boxes in entrance to communal areas • Provision of audio access control panel • Provision of broadband facility/connection to the site (likely Virgin or SKY) • Smoke detectors within flats and communal areas Flooring • Neutral carpet in bedrooms • Wood effect laminate floor in hallway, kitchen and living room • Bathroom tiles to floor and part of walls Lighting • Recessed downlight to kitchens, bathrooms, hallway and living room • Pendant lights in bedrooms Electrical • Brushed chrome switches and sockets • Smoke detectors and heat detectors • TV point in living room and bedroom • Telephone point in living room

• Mixer taps to bath and basin • Tiled walls incorporating feature wall • Mirror above vanity units • Bathrooms from Scudo, Hudson Reed, Phoenix or similar Kitchens • Fully fitted kitchens from Howdens Kitchens or similar • Work surfaces with matching splashbacks • Integrated electric fan oven, ceramic hob and extractor • Integrated fridge-freezer and integrated dishwasher • Stainless steel sink unit • Washer/Dryer which is plumbed in and installed Heating • Electric panel heaters with central timer • Chrome towel rails to bathrooms and en-suites Whilst every effort has been made to ensure that the information provided is as accurate as possible, our specifications and CGIs are designed specifically as a guide only, the developer reserve the right to amend the specifications as necessary without notice.

DOWNLOAD FLOORPLANS

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Computer generated images are intended for illustrative purposes only

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ILLUSTRATIVE RETURNS MODEL

Price (GBP)

HOW MUCH WILL MY PROPERTY INCREASE IN VALUE? -

Capital appreciation (%)

AVERAGE SAMPLE 2-BED UNIT PRICE

GBP205,700

Illustrative property value (GBP)

LTV

65%

Capital appreciation (%)

MORTGAGE INTEREST RATE (interest only)

3.60% (25 years)

Annual growth

WHAT IS MY NET MONTHLY CASH POSITION AFTER PAYING MY MORTGAGE? 0 ILLUSTRATIVE PROPERTY VALUE

Price (GBP)

1

205,700 212,900

2

3

221,415

229,165

4

5

6

7

8

9

10

237,186 246,673 255,553 263,833 271,527 278,653 285,234

CAPITAL APPRECIATION

-

3.5%

7.6%

11.4%

15.3%

19.9%

24.2%

28.3%

32.0%

35.5%

38.7%

ANNUAL GROWTH

-

3.5%

4.0%

3.5%

3.5%

4.0%

3.6%

3.2%

2.9%

2.6%

2.4%

Rent (GBP)

Rental yield (%)

WHAT WILL MY GROSS RENTAL INCOME BE? Rental income Rental yield

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CASH IN:

CASH OUT:

• Rental Income

• Tenant management fees • Running costs • Mortgage costs

1

2

3

4

5

6

7

8

9

10

RENTAL INCOME

10,812

11,244

11,638

12,045

12,407

12,742

13,051

13,337

13,599

13,840

RENTAL YIELD

5.3%

5.5%

5.7%

5.9%

6.0%

6.2%

6.3%

6.5%

6.6%

6.7%

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ILLUSTRATIVE RETURNS MODEL

5-YEAR PROFIT -

ILLUSTRATIVE RETURNS MODEL

10-YEAR PROFIT -

GROSS PROFIT (GBP99,120)

GROSS PROFIT(GBP204,250)

114,808

Net profit

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Net profit

Gross profit: Rental income and capital appreciation Net profit: Gross profit minus acquisition costs, running costs, mortgage costs and tax liability

Gross profit: Rental income and capital appreciation Net profit: Gross profit minus acquisition costs, running costs, mortgage costs and tax liability

Property price at purchase: GBP205,700

Property price at purchase: GBP205,700

Property value at sale (year 5): GBP246,673

Property value at sale (year 10): GBP285,234

LTV: 65% (GBP133,705)

LTV: 65% (GBP133,705)

Mortage interest rate: 3.60% (25 years)

Mortage interest rate: 3.60% (25 years)

5 year gross profit: GBP99,120

10 year gross profit: GBP204,250

Rental income: GBP58,147

Rental income: GBP124,716

Capital appreciation: GBP40,973

Capital appreciation: GBP79,534

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