Entirely Property


Thursday September 27 2018

X1 South Bank draws investors to Leeds City Centre with 6% Yields

Leeds is one of the many northern cities that is growing and becoming economically stronger, which has seen a huge increase in investor demand throughout Yorkshire.

X1 South Bank draws investors to Leeds City Centre with 6% Yields

The brand new X1 South Bank development in Leeds has got investors clamouring to get their hands on the amazing townhouses and apartments that are on offer in this central Leeds site.

X1 South Bank

For a premier residential development to invest in, look no further than X1 South Bank. Part of a five phase development, there are a total of 928 units under construction. These will be made up of townhouses, apartments, offices, retail and commercial units that promise to make it a very exciting spot.

The first phase of the 12 storey development will be made up of 116 apartments and 11 townhouses. This will be followed by a further 153 apartments and 13 townhouses in phase two. They are set to turn heads thanks to the cutting edge architecture, green spaces and nearby public square. This not only means that it will be an attractive place to live, but also the start of bustling community.

The development will boast a gym, rooftop gardens, a café, cycle storage and a concierge service to make it top of most people’s lists of places to live.

The X1 South Bank can be found close to the much sought-after Leeds Dock area which offers a popular and fashionable lifestyle. South Bank has been chosen as the site for the new HS2 station, giving it great connections to London and making it an even more desirable area.

Investment Opportunities

The X1 South Bank properties promise up to 6% net yield with a 999 year leasehold. They are being created by a well established developer and the completion date is estimated to be the third quarter of 2020.

There are a range of opportunities available for different budgets, starting at £140,000 and going up to £325,000. A one bedroom apartment has a wonderful 42 square metres of space and a balcony, and cost £139,995. Two bedroom apartments have an extra 28 square metres and a price tag of £189,995 whilst adding an extra bedroom gets you a total of 86.70 square metres for £239,995, both also with balconies. The townhouses in the development have three bedrooms and a private garden and span 98 square metres, costing £325,000.

There are furniture packs available ranging from £2,995 to £4,995 depending on the number of bedrooms in the property.

To purchase any of these units, you will need to initially pay a £5,000 reservation fee followed by 25% of the purchase price and 50% of the furniture pack on exchange. Six months later you will be required to pay a further 10% of the purchase price and the remaining 50% of the furniture pack. The final 65% of the purchase price will be payable on completion.

There are ground rents of £395 per year, an estimated service charge of £1.63 per square foot and management fees of 8& plus VAT.

For a property investment in Leeds that offers high-end living in an area that is set to be popular with young professionals and families, then X1 South Bank has to be the one!

"X1 South Bank is the first of five phases, bringing a total of 928 residential apartments, offices, retail and commercial units which will appeal to a wide variety of investors."
Mark Burns

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