Icona - Property Investment in York City Centre
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York City Centre Property Investment
32 one and two-bedroom luxury apartments on Redeness Street, just a 9-minute walk from York's city centre. Residents have access to a range of onsite facilities, including a communal rooftop garden, private gym, and concierge service.
Each apartment has been designed with natural light in mind. Attention has been paid to layouts and the careful use of tall windows, ensuring that apartments are bright, bringing the outside in. Contemporary kitchens and state of the art appliances will allow residents to carry out day-to-day activities efficiently.
Key Figures
£255,000Starting Price
7%Net Yield
Q4 2020Completion Date
Investment Details
About Icona, Property Investment in York City Centre"
The development is well-served by local amenities and transport links due to its location on Redeness Street just a 9-minute walk from York’s city centre.
Icona compares favourably with other new build developments in terms of pricing. Other new builds in the area are on average priced at £475 per sq/ft, whereas Icona’s average price per sq. ft is £442.
The attraction of investing in York is the scarcity of new builds. Due to planning restrictions, new developments cannot exceed five storeys, so you will not come across high-rise buildings that are commonplace in other cities such as Manchester. This has buoyed property prices which are rising higher than the national average at 4% last year and 7% up on 2018 prices. The growth trajectory combined with modest pricing will allow investors in Icona to achieve good levels of capital growth. There is also the option to rent apartments as serviced accommodation which can achieve higher yields.
The Numbers
Ground Rent:0.1%
Number of Units:32
Service Charge:£1000 pa
Prices:One bedroom apartments from £255,000, two bedroom apartments from £335,000
Leasehold:250 years
- 32 apartments (including 3 penthouse suites with private terraces)
- Communal roof terrace
- 16 car parking spaces available
- High specification finishes include quartz worktops and contemporary Italian kitchens
- Sanitary ware and tiling to the bathrooms and ensuites (where available)
- Views of the iconic York Minster can be seen from the the development
- Furniture packs available Second phase (Icona II) will include a dedicated concierge and gym which all resident’s will have access to
- £3,000 reservation deposit
- 10% exchange deposit
- Balance on completion
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