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Save Up To £45,000 On Exclusive Liverpool Property Below Market Value (BMV)
March 23, 2009Article by Ray Withers
London 23 March 2009 – Investors can pick up to a £45,000 discount on brand new apartments with an exclusive deal from investment consultants Property Frontiers. Thirty apartments, at Wavertree Liverpool, are at least 25% below market value on last year’s selling price of £135,000 – certified by two independent surveyors. The development is complete and the apartments are ready to rent – with an expected yield of between 7% and 10%.
Liverpool property investment has performed well in recent years with the city named European City of Culture and with plenty of cash ploughed in to regeneration schemes. With a purchase price set below the cost of buying the land and construction, the apartments represent outstanding value for money, according to Property Frontiers.
“It is almost impossible to call the bottom of the market, “ said Ray Withers, a director of Oxford-based Property Frontiers. “We believe that now is the time that developers will be willing to accept extremely discounted prices for their property in order to secure their balance sheets and even their futures.
“Mothballing of half built sites is leading to a substantial reduction in housing completions and so when the current developer stock is sold, the opportunity to acquire property from the most motivated sellers will have been missed.
“As a result, we believe that the next few months could present the best buying opportunity for a generation.”
The apartments, built by a leading UK developer, are at Merchants Court, Wavertree, just a few minutes walk from Wavertree High Street and a short train ride from Liverpool city centre. Prices start at £89,960 for a ground floor flat with a current valuation of £119,950 and an estimated gross rental return of about £650 per month. The development is expected to attract particular attention from cash rich overseas investors who can exploit the weak pound, the lack of credit and tumbling house prices. Liverpool also has strong economic and demographic trends that make the city appeal to investors. According to research carried out by DTZ the city’s professional and financial service sector is expected to continue to grow over the next decade despite the economic downturn.
Although close to Liverpool city centre the area of Wavertree has its own unique sense of identity. Wavertree Park – within a few hundred yards of Merchants Court – offers well-equipped sports and leisure facilities.
Merchants Court comprises 34 two-bedroom apartments arranged over three floors. Each apartment has double-glazed windows and comes with a quality fitted kitchen with built in electric oven, hood and hob, standard washer and dryer laundry facilities and electric showers in the bathroom suites. The development is also very secure in a private gated setting with phone entry system.
For more information contact Property Frontiers on +44 (0) 1865 202700.