The Residences, Reading
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Attractive Buy-to-Let Investment located within 25 minutes of London
A new buy to let investment in Reading has arisen. The Residences comprises 3 x Refurbished Blocks and 1 New Build up to five floors. There is a total of 20 one-bedroom apartments, and 13 two-bedroom apartments. The Residences is a contemporary refurbishment of an iconic, prominent, landmark site, with the addition of the new build Duchess House, that is built around a tranquil courtyard in the very centre of Reading. The Residences is just 5 minutes walk to Reading Station and from there a 25 minute train journey into the very heart of London.
Key Figures
£287,000Starting Price
8%Net Yield
Q3 2020Completion Date
Investment Details
This boutique project will comprise of 33 luxury finished apartments with thoughtful interior design, digitally controlled Fascino bathroom controls, RAK Ceramics and Oak / Ebony wood flooring. A true oasis in the centre of Reading, Berkshire.
The Residences Investment Fundamentals
- 33 one-and-two-bedroom contemporary apartments - Located within 25 minutes of London - Estimated completion Q4 2020 - 8-12% projected rental yield under AST model - 20% deposit required - Smart technology - Priced from £287,000 - Can be rented as serviced accommodation and thereby be made available for personal use (for holidays) which is convenient when visiting London.Why invest in property in Reading?
Reading has an established and strong economy with many hi-tech businesses and those in the creative sector contributing to its success. It is also home to a world-class university and due to its strong economy many decide to stay after graduating.
Reading is also just half an hour from London, making it a convenient place to live for those working in London. Reading is much more affordable with an average property price of £363,150 compared to London’s £618,829. Reading took Manchester’s crown as the town or city forecast to see the most growth in the UK over the period 2018-2021 in EY’s latest Regional Economic Forecast. Enquire today to find out more about the benefits of investing in an area with a high growth forecast.
The Numbers
Ground Rent:0.1% of purchase price
Number of Units:20 one-bedroom and 13 two-bedroom Apartments
Service Charge:£2.00 psf
Prices:One Bedroom: from £287,000 & Two Bedroom: from £400,649
Leasehold:250 years
- Forest oak doors with polished chrome ironmongery, matching wrapped door-lining, architraves and skirtings
- Choice of white oak or ebony oak strip wood flooring to entrance hall, living area, dining area, kitchen and cloakroom
- Choice of carpets with underlay to bedrooms • Fitted wardrobes to master bedroom
- Double-glazed uPVC windows
- Gas fired heating system via radiators
- Reservation Fee: £3,000 (Reimbursed on exchange of contracts)
- Exchange Deposit:20% Deposit
- Balance to be Paid on completion: 80%
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