Strong yields at Bath’s leading property development is steering an increasing number of investors to Crest Nicholson’s Bath Riverside, where those who are able to invest in a property, can currently expect a return of up to six percent.
A shortage of quality rental accommodation in the city is also prompting canny investors – including parents of children studying at university – to take a closer look at the development.
The large student population, including an influx from the Far East, has also placed additional pressure on current stock, resulting in the city seeing some of the steepest rent rises in the country.
Sales and marketing director Susan Young said it was clear prevailing rental demand across Bath was concentrating investor attention at Bath Riverside.
She said: “Bath’s emergence as one of the top property investment locations outside of London is resulting in an increasing number of investors to Crest Nicholson’s Bath Riverside.
“Bath is also regarded as being one of the best university cities in the UK, so naturally attracts a high number of students.
“Much of the existing rental property in surrounding residential areas has long since been snapped up by existing and first-time landlords, with many traditional family homes having changed to houses in multiple-occupation.
“With Bath Riverside being the most significant property development in the city, it is not surprising we are attracting investors who are looking at new build for letting opportunities right in the centre of town.”
With yields being as much as 20 per cent higher in new properties, void periods much shorter and maintenance costs lower, buying a new property at the development makes for a very attractive investment package.
Many also see investing in property as a means to not waste money on rent. It also helps generate an income as well as a steady investment through capital appreciation.
Current availability at the development includes a number of one-bedroom apartments in Leopold House, ideal for investors, plus some stunning top-floor penthouses.
Susan added: “We have calculated that, in the current market, investors can expect a potential return of between 5 per cent to 6 per cent* on a one-bedroom apartment at Bath Riverside so striking now would mean getting the most for your investment not only in potential equity but also rental returns.
“And because the properties here are brand new owners can expect there to be virtually no initial maintenance costs - always a tremendous benefit for a landlord.”
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.