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B2L investors in Liverpool celebrate opening of Candia Tower
April 19, 2012Article by Ray Withers
It would seem that the the B2L market in the North of England can do no wrong with new figures from the B2L lender, Paragon, showing that landlords in the North West are making 6.6% annual return on their properties compared with 5.9% in Central London, 5.7% in the suburbs and merely 5.5% in Scotland.
Indeed gross rental yield in the North rose from 5.9% in Q4 2011 to this most recent high with the current demand for rental accommodation showing no signs of slowing.
These positive figures inspired even more investor confidence in the B2L market in Liverpool, one city where we at Property Frontiers have committed heavily to lucrative property investments, and coincided with the opening party of our superb B2L opportunity, Candia Tower.
With a number of their clients successful invested in Candia Tower, investment consultants Stuart Cowie and Bertie Cassels attended the opening party last Friday. Reporting on the well attended event, Stuart comments, “Liverpool is always an exciting city to visit, and my recent trip was no different to normal.
Bertie and I arrived into Lime Street Station in the early afternoon and there was an added buzz in the air with the build up to the Grand National at Aintree well underway. Also with the Semi-Final FA Cup clash between Liverpool and Everton on the weekend Liverpool was awash with Blue and Red Flags!
The purpose of our visit was to attend the opening party of Candia Tower just north of the city centre. This was a extremely ambitious project taken on by our trusted Liverpool developer partners as Candia and its sister tower, Crete, were left in a very sorry state after years of neglect.
The transformation of the 15 story buildings was nothing short of amazing and I was extremely happy to see the finished result as I know my clients who have invested here are going to do very well.
The opening party took place on the 7th Floor and the views from the spacious balconies were spectacular overlooking the city and across the Mersey.
The apartments themselves are extremely spacious, much bigger than a standard new build and they are fitted out to the highest standards.
The demand for quality rental accommodation in Liverpool is very strong with people moving into Candia Tower already which is a very encouraging sign. From experience I can see that the location and the space will be highly appealing to a wide cross section of tenants.
After speaking to some local estate agents at the event I was pleased to hear that the resale prices of these apartments is currently around 30% to 40% above the purchase price which again bodes well for my clients.
The next day as we returned to the office, I reflected on the success of Candia Tower and am already extremely excited about the future projects I will be able to bring my clients and investors through our developer partner in Liverpool.