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Luxury Sheffield apartment block opens to investors

17th March 2015 Print

Sheffield is a scenic and historic city, classed as the fourth largest and most centrally-situated in the country. It holds regional hub status, has benefited from regeneration programmes worth billions of pounds in recent years, and has extremely strong transport links in terms of road, rail and air travel. Little wonder, then, that Sheffield is a popular place to live and work and has strong demand for good-quality accommodation. 

A new apartment block, Taray Towers Sheffield, intends to provide the kind of central, modern, high-quality accommodation that Sheffield tenants seek. The project is now seeking investors who are interested in purchasing one or two bedroom flats as buy-to-let opportunities. Occupying a prime location and being constructed to high standards, these apartments have the potential to prove extremely lucrative for those investors who get in early.

Taray Towers has secured an excellent location, close to the heart of the city. Residents will not quite have to live in the thick of the action, but will be able to reach the city centre within three minutes by tram when they want to take advantage of the excellent amenities. The city centre includes attractions such as a major shopping mall and vast array of other retailers, national rail services bearing passengers to locations throughout the country, and a popular university.

Tenants in Sheffield are often looking for the best accommodation on offer, and that is what Taray Towers has been designed to offer. There will be 45 apartments in all, and they will be fully furnished to a high standard and come with satellite TV and superfast fibre optic broadband. Décor will be contemporary and well-designed, including beautiful luxury kitchens supplied with high-end appliances and the development process will be carried out by an experienced team using the most up-to-date and energy-efficient building techniques. The completed block will contain both one and two bedroom apartments, and will offer ideal accommodation for young professionals, students and small families.

The development will offer plenty to attract tenants, but at the moment it is investors that the development seeks. Fortunately, there is once again plenty on offer to make the development appealing. As well as strong anticipated levels of demand, the development is offering attractive financial packages. Prices start at just £95,995, and assured net returns of 7% will be offered for a full five years after completion. This is significantly higher than the average rental yield of a UK property investment, which is just 5.3%. Occupying a prime, central location in a busy, high-demand and still-growing market like Sheffield, the development will also offer excellent potential for capital appreciation. According to major consultancy Knight Frank, this kind of property is performing well and likely to continue doing so for some time yet.

The development will be fully managed by an experienced management company. This makes it low-hassle for the investor, resulting in the ideal "hands-off" entry point into Sheffield's high-performing property market.