New pension rules makes investing at Bath Riverside plain sailing
With rules on pensions being relaxed in the last budget, developers at the South West’s leading regeneration project are advising those considering retirement to look at how investing in property could provide them with a comfortable lifestyle after work.
From April 2015 all restrictions on access to pension pots will be removed meaning those who have saved throughout their working lives can use the fund as they wish.
The team at Crest Nicholson’s Bath Riverside project are now suggesting those who are considering their options take a closer look at the popular water side development which has already attracted investors wanting a decent return.
With some of the steepest rent rises in the country and average year-on-year increases actually outstripping the capital has seen Bath emerge as one of the top property investment locations outside of London.
Currently properties take just over a week to let indicating a healthy rental sector and with yields averaging between 5 and 6 per cent a year, alongside capital gain growth makes for a compelling proposition.
Susan Young, sales and marketing director at Crest Nicholson said: “Some believe that as pension rules are loosened, individuals will need to show great restraint to avoid depleting their savings.
“But it hardly seems logical to squander away your savings having spent years working hard to build up a nice nest egg.
“The freedom to choose where to place savings should be welcomed and we’re advising those reaching retirement age to consider Bath Riverside.
“Investing in a property not only provides the owner with a decent monthly income but enables them to invest in something that their family will be able to benefit from in the future.
“The Riverside location offers the advantage of being within easy walking distance of the shops, restaurants, theatres and bars as well the railway station and is attractive for potential tenants.”
Susan said yields were as much as 20 per cent higher in new properties. With void periods much shorter and maintenance costs lower buying a new property at the development makes for a very attractive retirement package.
Sales to date total around 180 properties on the 44-acre site with a further 1,700 scheduled for the development which is expected to take at least another 12 years to complete.
Susan added: “As we continue to make progress on further phases, new apartments will become available and will provide a great alternative to traditional pension options.
“Some people have bought a second apartment for themselves in addition to their investment property and clearly demonstrates the attractiveness and quality of Bath Riverside.”
For further information visit crestnicholson.com/bathriverside Victoria Bridge Road is open daily from 10 am to 5pm.
