PENNY LANE HOUSE - Primesite Developments · Nowadays this Penny Lane intersection is an important...

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TM PENNY LANE HOUSE PENNY LANE HOUSE 10% Net Return 3 Years Free use of State of the Art Gymnasium Free WiFi £44,950 £44,950 Accomodation for the more refined student

Transcript of PENNY LANE HOUSE - Primesite Developments · Nowadays this Penny Lane intersection is an important...

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PENNY LANE HOUSEPENNY LANE HOUSE

10% Net Return 3 Years Free use of State of the Art Gymnasium Free WiFi

£44,950£44,950Accomodation for the more refined student

PENNY LANE“It’s in my Ears and in my Eyes”

Where do we start with Penny Lane? There is a road called Penny Lane, andsome significant Places of interest are here. It was named after the 18th CenturySlave Trader James Penny.

However; the song of Penny Lane is not really about the road of Penny Lane: it is mainly about the roundabout at the top of Penny Lane – actually called –‘Smithdown Place’, but that wouldn’t sound right would it?

“Smithdown Place is in my Ears and in my Eyes”? No!

Historically, this roundabout has always been the focal point of the area, and hasbeen known as the “Penny Lane” area for many years, long before the song.

The roundabout, Smithdown Place, is the meeting point for the local suburbs:to the North up Church road and West down Smithdown road you have the suburb ofWavertree; to the South down Penny Lane (the road) is Mossley Hill; to the East alongAllerton Road and to the North-East along Heathfield Road you have Childwall.

Penny Lane was also the terminus for the trams from the city centre – they haven’t evenextended the trams beyond Penny Lane yet. Up into the 1940’s and 50’s the Penny Laneroundabout was the centre of this community and still is. There were 3 banks on theroundabout; there were shops and the tram – and later bus shelters.

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At the traffic lights, Penny Lane the Road finishes, and out in front of us is Smithdown place –The Penny Lane roundabout. From here we have St. Barnabas Church on the right and thebus shelter in front of us, with Sgt Peppers Bistro.

There was originally an iron Chapel on Smithdown Road in 1990,but when a more permanent building was needed, theyacquired the site on the roundabout, and the Church wasfinally opened in February 1914.

The video of the single ‘Penny Lane included shots of Penny Lane, including tan aerial shot of thePenny Lane roundabout from the top of St Barnabas’ Church tower. The song relates to several localland marks that still exist today, including the Shelter, the Fire Station and the Barber shop

Nowadays this Penny Lane intersection is an important stop on Liverpool’s Beatles trail – with Both John Lennon and Paul McCartneygrowing up in this part of Liverpool – they would meet at this intersection to catch the bus into Liverpool.

The Penny Lane area is on the routes of various tour buses with thousands of tourists visiting annually.

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So join me on a trip to Penny Lane . . .

Sefton ParkSefton Park in Liverpool is arguably the best known and most lovedby locals. Classified as a Grade One listed park by English Heritage,the magnificent 200-acre Park looks like a natural landscape ratherthan a man-made park. In spring the sight of millions of goldendaffodils around the lake draws residents from across the city andcarpets of bluebells give an impression of rural permanence.

The park features many distinctive curved paths and drivewaysand beech and other indigenous British trees abound. Amongstthe park's many features are a boating lake, replica statues ofEros & Peter Pan and a café.The park is also home to the famousPalm House, a fabulous glass-panelledbuilding that has been restored to itsformer glory.

Greenbank ParkThe park boasts the dual distinction of having the first ofthe Old English Gardens in Liverpool's parks, and the firstBoating Lake. The walled garden is all that remains of theestate on the park. Now laid out as an Old English garden, itcontains a memorial tablet to the late Mr Michael Kearney,the former Deputy Chairman of the Parks and GardensCommittee, who originated the idea of its design. This garden, once famous for its herbaceous borders,has been restored as a move to reflect its former glory.

The area also benefits from being close to two of the biggest, most beautifuland best known parks in Liverpool . . .

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• Penny Lane Wine Bar 0.0 Miles• Eight 0.1 Miles• Siam Garden Thai 0.1 Miles• Tavern Company 0.1 Miles• Ark Restaurant 0.1 Miles• The Olive Tree 0.1 Miles• Sergeant Peppers 0.1 Miles• Tavern Company 0.1 Miles• Pizza Parlour 0.1 Miles• Lefteris Greek tavern 0.1 Miles• Kitchen Indian Fast Food & Takeaways 0.1 Miles• Spoon 0.1 Miles• Pod Bar Restaurant Spanish 0.1 Miles• Cafe Sekander Indian 0.1 Miles• Eastern Diner Chinese 0.1 Miles• La Bussola Restaurant Italian 0.1 Miles• Yates’s 0.1 Miles• Penny Lane 0.2 Miles• Alma De Santiago 0.2 Miles• Millon- Pakistani 0.2 Miles• Vinci Wine Bar and Restaurant 0.3 Miles• New Perking Duck Restaurant 0.4 Miles• Pod Bar Restaurant 0.4 Miles

• Omega 0.4 Miles• The Other Place Bar 0.4 Miles • Jalons 0.4 Miles• The Brookhouse 0.5 Miles• Crichton’s Bar and Restaurant 0.5 Miles• Mello Wine Bar & Bistro 0.5 Miles• Royal Tandori Indian 0.5 Miles• Khans 0.6 Miles • The Clachan 0.7 Miles• Kelly’s Dispensary 0.7 Miles• The Willow Bank 0.8 Miles • The Albert 1.3 Miles• The Moon and Pea Deli 1.3 Miles• Low Bar 1.3 Miles• The Parkfield Inn 1.4 Miles• Aki’s Wine Bar 1.4 Miles • Rhubarb 1.4 Miles• Chilli Banana Thai 1.4 Miles• Elif Turkish Restaurant 1.4 Miles• The Boundary 1.5 Miles• Cello’s Cafe Bar 2.2 Miles

AmenitiesLocated within a mile radius you will find an array of Wine Bars/Pubs/Bars/Restaurants & Bistros . . .

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• Allerton Road 2 minute walk• University 8 minute drive• John Moores 9 minute drive• Dental Hospital 9 minute drive • Liverpool Cathedral 9 minute drive• Liverpool One 9 minute drive• Empire Theatre 10 minute drive

• Green Bank Park 10 minute walk• Echo Arena 11 minute drive• Albert Dock 11 minute drive• Mossley Hill to Lime Street 12 minute by train• Mossley Hill Train Station 14 minute walk• Lark Lane 17 minute walk • Sefton Park 20 minute walk

Distance – localAll within easy access to accommodation . . .

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The DevelopmentPenny Lane House is a brand new purpose built Student development located in themost popular and sought after area for students outside the City Centre.

Situated within walking distance of Allerton Road (A High end location packedwith restaurants and wine bars) Smithdown Road (Student Bars, take a ways and avariety of small independent specialised shops).

Penny Lane House also benefits from easy access to the Infamous Lark Lane.A very popular lane in Liverpool known for its Bohemian look and feel, LarkLane caters for a variety of people. Among the offering of many pubs, bars,restaurants, cafes and takeaways, you will find an array of antique and quirkystores.

Housing just 38 oversized En –suite rooms, the accommodation has been spe-cially designed to offer the perfect environment for students in their finalyears of study.

With Large, Bright rooms and spacious open plan communal areas, studentshave the perfect and tranquil environment for study and relaxation.

With fully fitted brand new kitchens, En suites, a Gymnasium and WIFI, studentsalso benefit from being supplied with everything they could possibly need for thatover all home from home feel.

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The Opportunity

• Purchase a Unit for £44,950• Completion set for September 2015• 250 year leasehold• 3 year rental assurance 10% net• Rents paid quarterly• Full managed investment• Long standing and successful management company• Successful and proven developer• Oversized modern communal areas• Fully fitted communal kitchens• Fully fitted En suite to every room• Fully furnished rooms• Up to date and fully fitted Gymnasium• WIFI• Excellent location• Walking distance to many Wine bars – Pubs – Restaurants• Walking distance to 2 major parks • Located on many frequent bus routes• Perfectly placed for easy access into the city• 10 minute walk to nearest train station

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Ease of Purchase

Each En Suite room shall be sold on a leasehold basis of250 years and provides an opportunity for individualinvestors to enter this lucrative sector at an affordable level.

• Chose your desired unit

• Secure this unit with £5000 Reservation fee

• Compete Reservation form

• Exchange contracts 28 days with a further £21,970

• £6,742.50 stage payment to be paid 4 months

from Exchange

• Balance of £11,237.50 payable on completion

September 2015

• Rental Income of £118 per week for 49 weeks

• Gross Rent £5782

• Maintenance and Management £1132

• Ground Rent £150

• Net Return £4,495

• 10% Net Return

Bedroom• Single Bed and Mattress • 2 Pillows and Pillow cases• Fitted sheet• Flat sheet• Duvet • Wardrobe – to be fitted with

High Gloss Sliding Doors• Study Desk and Chair• 4 Built in High Gloss Shelves

En Suite• Shower• WC• Bath Towel – White Hand Towel – White• Bathroom Mirror

Lounge Area • 2 Dining Tables with 10 Chairs• 32 inch TV and wall bracket

Gym• 1 Rowing Machine• 1 Tread Mill• 1 Cross Trainer• Free Weights and Bench

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SpecificationKitchen • Standard Fridge with minimum15 Litre Freezer Compartment

• Built in electric hob (4 Ring)• Cooker Unit• Sink Unit• Food Storage Wall Cupboards• Microwave Oven• Kettle, Toaster, Ironing Board and Iron• Cutlery – Knife, Fork, Spoon & Tea Spoon • Crockery – Dinner Plate, Side Plate and

Bowl – White• 3 Piece Pan Set and Frying Pan• Kitchen Utensil Set• Pedestal Bin

Vendors SolicitorsDavid Walton B.Sc, Solicitor - Blunts Solicitors2-6 King Edward Street, Macclesfield, SK10 1AB

TEL: 01625 429 131 - FAX: 01625 412 [email protected]

Buyer’s SolicitorsThe solicitors below have been fully briefed on the scheme and are in receipt of full legal packs. This includes – sales contracts/lease agreements/managementagreement. Solicitors fees include all disbursements, Land Registry fees and VAT. Stephen is happy to take calls to answer any legal questions or queries you

may have in relation to the scheme.

Stephen Croasdale - Excello LawCentral Court, 25 Southampton Buildings, London, WC2A 1AL

t +44 (0) 845 257 9449 dd +44 (0) 7568 309600m +44 (0) 7568 309600 f +44 (0) 203 043 8889

email: [email protected]

Purchase Price: Our Fee (£645.00 + VAT) Cost: £780.00Land Registry Fee INCBank Transfer Fee INCSeller’s Solicitors Document Fee £120.00

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Primesite Developments Established in 2011, the Primesite Developments team has a wealth ofexperience in property development, many of whom have been working togetheron large-scale projects since 2001. Primesite Developments has expanded in thewake of its project success and the confidence in the company of deliveringmulti-million pound schemes on time and to budget. Current developmentsinclude hotels, care homes, student accommodation, serviced offices andresidential developments totalling £80m GDV.Rather than conventional bank borrowing, which is complex and slow, thedevelopers utilise ‘design and build’ specialist usage schemes. These schemesare funded via alternative investment and are linked to professional partnerswhere appropriate.Lomax Student HallsPrimesite’s Lomax Student Halls of Residence (LSH), the £6m development isthe new high quality student accommodation in Stoke to be available for thestudents of both Staffordshire University and Keele University. The developmentcomprises 120 en suite bedrooms with large bedroom sizes of 135 sq ft.Communal kitchen and living areas come furnished and equipped to a highspecification, including flat screen televisions, as the modern day student wouldexpect.Madison CourtPrimesite Developments are thrilled to announce the recent completion of its£4.5m development, Madison Care Home, in St Helens. The development, a 66bedroom specialist care home, has been delivered to exceptional standards inpartnership with award winning care home operator Care Concepts. Thedevelopment addresses the significant shortfall in care home rooms in the localarea. The successful relationship between Primesite Developments and CareConcepts has seen the two companies go into partnership on a further two carehomes in the North West, commencing withCarriage Grove (North Liverpool) and Cleaver Court (Heswall, Wirral).Carriage Grove Primesite Developments in partnership with Plus Dane Grouprecently completed the first phase of Carriage Grove, a mixed use project inLiverpool. The first phase, 41 apartments were delivered to an exceptionalstandard. After passing an extensive due diligence, Primesite Developments waschosen as the preferred development partner and this recent success was theresult of another successful partnership well served.

Carriage Grove

Madison Care Home

Lomax Student Halls

A Great Place to Work & Invest . . .1 The UK’s fastest growing economy outside London…2 Home to 2011 Car of the Year, the Range Rover Evoque…3 The UK’s largest wealth management centre outside London…4 Europe’s fastest growing airport…5 One of the world’s most significant games sector clusters…6 The largest freeport zone in the UK…7 Home to 50,000 students from more than 100 countries…8 The least expensive city in the UK for office occupancy…9 Home to the world’s first School of Tropical Medicine…10 The first European city to host the Global Entrepreneurship Congress…

A Great Place to Live & Visit . . .

twitter.com/itsliverpool facebook.com/itsliverpool1 ONS 2010 2 Auto Express Magazine 2011 3 ComPeer 2010 4 RDC Aviation 2010 5 DCMS

6 Dept of Transport 2009 7 HESA 2010 8 DTZ 2008 9 University of Liverpool 10 Kauffman Foundation1 Conde Nast Awards 2010/11 2 Jose Manuel Barroso 2009 3 UNESCO 4 CACI 2010 5 Visitliverpool.com 6 English Heritage 7 National Museums Liverpool 8 LCBA 9 Guinness Records 10 Golf World Magazine 2011

1 A top 5 city break destination and the friendliest city in the UK…2 Europe’s most successful Capital of Culture…3 World Heritage status alongside the Taj Mahal & Great Wall of China…4 A top 5 UK retail centre…5 Most filmed city outside of London…6 More parks than Paris…7 Largest collection of national museums and galleries outside London…8 Home to Europe’s longest established Chinese community…9 Pop music capital of the world with more number 1s than any other city…10 Home to more than 40 golf courses including 7 championship courses…

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StudentAccommodationNo.1 Choice for Property Investment in the UK

Once considered an alternative to the UK’s more traditional property markets, student accommodation investment has performed well

total returns outperforming many commercial property asset classes.*

A record £2.7 billion was invested in the UK student housing market in 2012 according

increase in investment into UK’s thriving student

accommodation sector when compared to the previous year.

With years of experience selling student property investment, our foresight combined with the rapid emergence of the sector has rewarded our investors with strong returns.

Knight Frank’s 2012 Student Property Report rated student investments as the number one choice for property investment in the UK.

*Knight Frank Student Property report 2012** CBRE UK Student Housing MarketView Q4 2012*** CBRE 2012

Chart: Volume of deals in UK student accommodation 2009 - 2012

Volu

me

of d

eals

(mill

ions

)

2009

£3000

£2500

£2000

£1500

£1000

£500

£0

2010 2011 2012Source: CBRE Q1 Q2 Q3 Q4

International Students in the UK Non-EU Student Numbers Continue to Rise

Despite the rise in UK tuition fees UCAS analysis shows that overseas student application numbers have remained strong. Forecasted projects show that growth of students enrolled outside of their country of residence to 8 million by 2025, from 3.7million in 2010.

Total Non EU applicants for all courses (2009-2013)

Applicant Domicile 2009 2010 2011 2012 2013

Non EU 18,519 20,005 21,013 23,806 23,987

2012

“While local students adhere more closely to the stereotype of outdated student rooms, many foreign students are willing and able to pay for a bit of luxury, better security and extra facilities,” The Independent, 2012.

WHY INVEST

Student Accommodation in the Private SectorThe Growth of a Dynamic New Asset Class

TOP PERFORMING SECTOR � Increasing demand outstrips available supply

� Consistent occupancy rates of 99% or higher

� Bad debts virtually non-existent

� Students pay rent in advance

ТHE RETURNS? � Attractive yields

� Delivers robust long-term income streams

� Aided by a year-on-year rental increase

� management

The popularity of student accommodation among investors is ultimately driven by consistent occupancy rates of 99%*** or higher.

According to the NUS Accommodation Costs Survey 2012/2013, private sector student accommodation has grown considerably over the last 10 years. In 2003, private providers represented only 4% of stock however this has now increased to 39%.

Existing housing provided by universities is often outdated and the availability of prime purpose-built, modern accommodation is a crucial part of their marketing plans to attract their share of the growing student intake.

With supply restricted and strong demand underpinning rental growth, now is the perfect time for investors to take advantage of current market conditions.

Market Fundamentals – Supply and DemandIn the UK alone there are 170 higher education institutions with a current student population of 2.4 million. This number is expected to rise to 3 million by 2014. In 1996/97 there were 1.8 million students and the dramatic expansion in student numbers has left most universities with an acute undersupply of suitable accommodation.

A recent report published by the British Council: The shape of things to come: Higher education

global trends and emerging opportunities to 2020 shows that within the next decade nearly 30,000 more international students can be expected to join university courses in the UK, second to Australia, and more than its greatest higher education competitor, the United States.

The report analyses economic, demographic and educational trends in more than 50 countries, and proposes that UK Higher Education stands to “reap the rewards of a coming decade of opportunity” in global markets.

The forecasted growth in overseas students in the UK will be powered by the increasing demand for university places from India, which is forecast to overtake China as the world’s fastest growing source of globally mobile students. It will also be driven by the UK’s high and expected growing share of other rapidly expanding markets including Nigeria, Malaysia, Pakistan and Saudi Arabia.

Future of International Students

WHY INVEST