Midland House

LONDON COMMUTER BELT MIDLAND HOUSE

PAGE | 02

Contents 03

Investment Overview

04

Midland House

06

Floor Plans

07

Price Comparisons

09

Location

10

Why Invest in Luton

11

Luton Regeneration

12

London Commuter Property Market

13

London Economy

15

Purchase Process

16

Frequently Asked Questions

PAGE | 03

INVESTMENT OVERVIEW Midland House offers high specification and generously sized apartments within a landmark building, specifically designed for the London commuter market completing from May 2021.

£173,500 PRICES FROM

15% DEPOSIT

These contemporary one and two bedroom apartments are priced from just £173,500 and forecast to produce rental returns of up to 6%.

Midland House is ideally located within 0.2 miles of Luton mainline station with London Kings Cross St Pancras from just 23 minutes.

6%

17%

RETURNS

5 YEAR GROWTH FORECAST

PAGE | 04

MIDLAND HOUSE Midland House offers flexible living with a selection of luxury and high specification 1 and 2 bedroom apartments designed for Luton's commuter and student markets.

Apartments feature generous bedrooms, fully tiled bathrooms, spotlights, central heating and fully integrated kitchens, including fridge, oven, hob and washer dryer.

The landmark Midland House development also features a roof top garden terrace.

PAGE | 05

PAGE | 06

FLOOR PLANS Midland House's contemporary apartments are generously sized, with 1 bedroom apartments from 463 to 700 square feet and 2 bedroom apartments from 635 to 775 square feet.

ONE BEDROOM

TWO BEDROOM

TWO BEDROOM

PAGE | 07

PRICE COMPARISONS 1-BEDS

6

5

4

3 1 2

MIDLAND HOUSE

£173,500

£375 PER SQUARE FOOT

1 - THE PICTURE HOUSE

£275,000

2 - THE LANDMARK BUILDING

£225,000

3 - ALMA STREET

£210,000

4 - STIRLING DRIVE

£195,000

5 - ALMA STREET

£190,000

£431 PER SQUARE FOOT

6 - YORK STREET

£180,000

£459 PER SQUARE FOOT

£483 PER SQUARE FOOT

PAGE | 08

PRICE COMPARISONS 2-BEDS

2

1

4

3

MIDLAND HOUSE

£232,000

£365 PER SQUARE FOOT

1 - THE PICTURE HOUSE

£385,000

2 - BROOKLANDS COURT

£275,000

£428 PER SQUARE FOOT

3 - NAPIER ROAD

£260,000

£395 PER SQUARE FOOT

4 - JOHN STREET

£235,000

£358 PER SQUARE FOOT

PAGE | 09

LOCATION

1 2 3 4

5

1 - LUTON MAINLINE STATION

0.2 MILES

2 - THE MALL SHOPPING CENTRE

0.2 MILES

3 - UNIVERSITY OF BEDFORDSHIRE

0.6 MILES

4 - LUTON AIRPORT

2.4 MILES

5 - M1 MOTORWAY

2.6 MILES

PAGE | 10

WHY INVEST IN LUTON?

#1

BEST VALUE COMMUTER LOCATION

GROWING PROPERTY PRICES

According to research by Lloyds Bank, Luton is the most affordable town within an hour's commute of central London. The research took into account average house prices, the cost and time for the commute.

Industry experts, Savills, have forecast house price growth of 17% in the South East of England in the 5 years to 2025.

REGENERATION

CONNECTIVITY

Luton is transforming with key development sites across Luton forming part of £4.5 billion target investment in the London commuter town.

Luton's rail link to London St Pancras station is from just 23 minutes journey.

London's Luton Airport is just 2.4 miles from Midland House and the M1 motorway is just 2.6 miles away, connecting Luton to London and the North of England.

SHOPPING & AMENITIES The Mall is a 1 million square foot shopping centre in the heart of Luton with 122 retailers, over 2,000 employees, circa 21 million visitors and £227m gross sales annually.

MAJOR UNIVERSITY CAMPUS Luton is home to the University of Bedforshire's Luton campus, which has seen signficant investment including a new £46 million library.

PAGE | 11

LUTON REGENERATION Luton is rapidly transforming with key development sites across Luton forming part of £4.5 billion target of investment in the London commuter town.

LUTON AIRPORT & LUTON DART

THE MALL LUTON SHOPPING CENTRE

Luton is growing faster than anyone could have predicted, and is now the fifth busiest airport in the UK. At its current rate of growth, LTN is forecast to reach its existing permitted capacity of 18m passengers a year (mppa) by 2021.

The Mall Luton is owned and managed by Capital & Regional, a UK focused specialist property REIT.

Luton Airport plan to make best use of the existing single runway in order to help meet the shortfall in national aviation demand, deliver a projected 16,000 new jobs and £2 billion economic growth.

Work is now well under way on the £225m state-of-theart Luton DART, a 2.1km fast transit system which will link London Luton Airport with Luton Airport Parkway mainline station in well under four minutes.

The Mall is a 1 million square foot shopping centre in the heart of Luton with 122 retailers, over 2,000 employees, circa 21 million visitors and £227m gross sales annually.

Capital & Regional has already invested £30m upgrading and maintaining The Mall Luton with new retailers and services since 2010.

The scheme includes design and construction of two stations, a gateway bridge, viaduct and tunnels, and is due to open in 2021.

Current improvements include investment of over £5m to bring Arndale House back into use, with Luton Council and Luton and Dunstable NHS Trust leasing the 52,000 sq. ft. of office space and a £7m upgrade of the shopping centre, including a Family Zone, Kids Play, Feast Street, Entrance improvements and mall ambience.

HIGH TOWN MASTER PLAN

LUTON HAT DISTRICT

The historic High Town area of Luton will be transformed into a vibrant neighbourhood with a complementary mix of residential, public realm, retail and commercial activities.

Following successful funding bids, the Trust secured £7.2m towards refurbishing three hat factories and building Hat Studios.

Situated adjacent to Luton railway station, High Town is conveniently located immediately to the north of Luton town centre. A bridge passing through the railway station is the main pedestrian connection between High Town and Luton town centre.

The regeneration will be achieved through private and public investment and will include improved public open space and enhanced natural environment and heritage assets, whilst providing substantial new residential development.

High Town will be a historic neighbourhood destination with residential-led mixed use developments which include small scale offices, workshops, live work units and additional retail to enhance the area and increase footfall. The scheme will also provide better pedestrian access and permeability.

The collection of imposing buildings will provide 25,000 sq. ft. of new workspace for the creative industries. This will enable 133 additional jobs and further inject life into a vibrant cultural district that will attract 135,000 new visitors by 2022.

The Hat District is the best connected creative workspace cluster in the UK, being a two-minute walk from a mainline train station (22 minutes to London) and bus station connecting the region.

In addition, it is only 10 minutes by car from the M1 and London Luton Airport.

PAGE | 12

LONDON COMMUTER PROPERTY MARKET London’s property prices are forecast to increase by 12.6% over the 5-years to 2025, whereas the South East is expected to see higher rates of growth of 17% (Savills).

The demand for property in the South East is driven by commuters into central London. With the introduction of Crossrail and improved rail connections, more towns and cities in the South East are becoming easily commutable to central London.

The rental market is also changing with the improved accessibility to central London.

Renters who have previously lived closer to the city are now able to look outside of the established areas of London for a better quality of accommodation, with excellent local amenities.

Average house price

Average house price

in the South East is

in England is

£414,480

£256,000

The South East property market has experienced average house price growth of 10.51% over the past 5 years and London has seen price growth of 8.36% (Zoopla).

Demand is shifting towards new build property and central London cannot meet that demand, resulting in 15.4% rental growth for Central London Development forecast over a 5 year period in contrast to 10.9% for Prime Central London.

PAGE |13

LONDON ECONOMY The city is a global leader and is one of the world’s leading financial centres for international business, renowned for its services industry, specifically financial services.

London’s economy is worth around £487 billion, approximately 25% of the annual Gross Value Added (GVA) of the whole of the UK. London is expected to grow strongly in economic terms with 6.2% growth forecast for 2021 and 6.9% in 2022.

London was ranked the world’s most magnetic city for the 9th year in a row by the World Economic Forum in 2020, despite the COVID pandemic and Brexit. The rating is based upon its ability to attract people, capital and global businesses. The city increased its score in 2020, pulling away from New York, which is in second place.

PAGE | 15

PURCHASE PROCESS RESERVATION Reservation agreement completed and a £2,000 reservation fee paid, which forms part of the purchase price

SOLICITORS INSTRUCTED Solicitors instructed, legal pack sent out & Anti-Money Laundering process completed

EXCHANGE OF CONTRACTS 15% of the purchase price is paid to the solicitor & contracts exchanged within 28 days of reservation

LEGAL COMPLETION The balance of the purchase price is paid, the purchase process completes and Title Deeds are registered with the UK Land Registry

PAGE | 17

FREQUENTLY ASKED QUESTIONS What is the address of the development?

142-144 Midland Road, LU2 0BL How many apartments are there?

There are 49 apartments in total.

Is there a building warranty?

Yes, there is a 10-year new build warranty.

Can I buy with a mortgage?

Yes, you can apply for a mortgage, however, we cannot guarantee mortgages and they are subject-to-status.

When is the development due to complete?

The targeted completion is from May 2021.

How long is the Lease?

The Lease is for a period of 250 years.

How much is the ground rent?

The ground rent is 0.1% of the purchase price.

How much is the service charge?

The estimated service charge is an average of £704 for a 1-bed and £945 for a 2-bed Who can manage my property?

We would recommend our parters, JH National, who can provide a fully managed service including insurance for non-payment of rent from 8% + VAT. Will I have to pay Stamp Duty Land Tax? Yes, please check with https://www.gov.uk/stamp-duty-land-tax to find out how much you will need to pay.

Will I have to pay tax on my rental income?

Yes, rental income is taxable, however, we would recommend you speak with a tax advisor to ensure that your investment is tax efficient.