Penthouses ready for March completions help beat stamp duty deadline
Investors wanting to beat the buy-to-let stamp duty deadline will be interested to know about a select number of penthouse apartments that are ready for March completion.
Following the announcement in the Autumn statement that from April 2016, those looking to buy a second property will have to pay new stamp duty charges, means investors will need to act now to avoid paying the higher rates.
Those in a position to buy could now save themselves tens of thousands of pounds in tax charges that have been put in place to clamp down on the buy-to-let sector.
More recently, with conventional investments continuing to produce disappointingly low returns, putting money into bricks and mortar seems like a much more attractive option for those with money to invest.
The new penthouse properties on the market at Crest Nicholson’s Bath Riverside development offer a high-end option for those looking to rent in the world heritage city allowing them to live in the lap of luxury and overlooking the rooftops of Bath and the River Avon.
Proximity to Bath city centre is also regarded as being an attractive selling point to potential tenants, with residents able to walk the short distance to the many shops, restaurants and places of work within ten minutes.
For those needing to travel further afield, Bath Spa station is just as close, perfect for commuters needing to get to places including Bristol, Swindon and London.
For would be investors, the prospect of good rental income, yields and capital gains is an attractive proposition.
Mary Timlin, sales and marketing director at Crest Nicholson said: “Being able to complete before the end of March means these penthouses present the perfect vehicle to get in before the new stamp duty rules take hold.
“Bath has also enjoyed some impressive rent rises and means yields are also pulling in punters wanting a decent return on their investment.
“The prospect of good rental income, capital growth and to have the deal done before April is therefore an opportunity not to be missed.
“There are many reasons why someone who is interested in investing in property might choose to look at a new building, rather than an older one. The most obvious is that they can expect there to be virtually no initial maintenance costs - always a tremendous benefit for a landlord.
“As well as a whole host of aesthetic considerations the first impression made on potential tenants of an immaculate new building is likely to be very favourable.
“That’s why they should appeal to those looking for a good investment opportunity.”
For further information please call 01225 463517 or visit www.crestnicholson.com/bathriverside
The marketing suite on Victoria Bridge Road is open daily from 10 am to 5pm.