Lucent Square offers investment opportunities in Leeds city centre
Over recent years, Leeds has been one of the fastest-growing cities in the UK and along with economic growth has come a need to increase the stock of housing and also to update existing housing stock in line with modern requirements. Lucent Square, Leeds aims to address this issue and is already generating great excitement amongst both residential buyers and investors.
Leeds - a hidden powerhouse in the north
When you say the phrase “Northern Powerhouse”, probably the first place which comes to mind is Manchester, which is the effective capital of the north. You may therefore be surprised to learn just how strong and diverse the economy of Leeds is or how much it has been growing over recent years.
In fact it is the UK’s fourth-largest urban economy, the third-largest manufacturing centre and the second-largest legal and financial centre. It also has no less than four universities, giving it the fourth-largest student population in the UK. Unsurprisingly, Leeds is also a major transport hub, being the third-busiest train station in the UK and set to be included in the second phase of HS2. It’s also the tenth busiest airport in the UK.
High demand for quality accommodation, particularly in the city centre
Leeds is one of the most densely-populated cities in the United Kingdom, which, of course, means there is a high demand for accommodation and a particular demand for rental accommodation due to the substantial population of students and young-adult professionals in the pre-child stage of their lives. Younger people in particular often prefer to live in the city centre so as to be close to both work and play, even if they also like to make the most of the leisure options provided by Leeds’ extensive green belt.
The Lucent Square development will be situated in a prime city centre location, which is close to recreational amenities including several local green spaces, along with practical facilities such as retail outlets (Leeds Kirkgate Market and Trinity Leeds Shopping Centre are just a 13-minute and a 16-minute walk away respectively). It’s also convenient for many local employers as well as the universities. In particular, Leeds Buckett University is only a 25-minute walk away. Last but by no means least it’s just a short walk from both Leeds City Bus Station (12 minutes) and Leeds Train Station (20 minutes)
Lucent Square offers outstanding value to residential buyers and investors
Scheduled to be completed in Q1 2020, Lucent Square will consist of 52 apartments, some of which will enjoy the benefit of balconies. One-bedroom apartments will have 55 square metres of floor space and be priced from £159K, while two-bedroom apartments will have 73.1 square metres of floor space and be priced from £197K.
Investors looking for property investments in Leeds can reasonably anticipate yields of over 5% and there is also a strong likelihood of capital appreciation as the housing market in the north is currently performing much more strongly than the housing market in the south. Residential buyers may be interested to know that mortgage lenders can be expected to provide financing of up to 65% of the price of the property.
For more information on Lucent Square or property investments in Leeds, please contact Hopwood House.