CROWN BUILDINGS
St Helens, Merseyside
Crown Buildings
Crown Buildings is situated in St Helens, a large town in Merseyside. The building is just off the town centre and only 30 minutes by train to the centre of Liverpool.
HJ Collection is working with Northern construction partner, Empire Property Concepts, capitalising on Government 'permitted development' schemes in prime Northern locations.
The Permitted Development ruling allows this former local tax office that has been left empty for years to be bought back to life. Once complete it will provide 63 one, and two-bed apartments finished to a high standard. The location is ideal for the rental market but also would capitalise on local housing market growth if units were to be sold individually.
Project Gallery
Location
St Helens is extremely well-positioned as a key commuter town, near Liverpool and Manchester. The town attracts a large amount of tenants because of its proximity to these cities, coupled with lower rentals in the area.
The average house price in St Helens currently sits at £148,133. This is £101,176 below the UK average of £249,309. Despite property in the town being lower than the UK average, prices have increased rapidly over the last decade with a 34.5% increase. Taking this growth in conjunction with the better yields achieved, St Helens offers investors an opportunity to buy property at a much-reduced cost with an eye to its future growth.
There are ample employers in the region already and as businesses continue to relocate from the south to north in search of savings, St Helens is in a prime location for future prosperity.
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Schedule of Accommodation
Completion: Q4 2021
Once complete it will provide 55 one, and two-bed apartments finished to a high standard. The location is ideal for the rental market but also would capitalise on local housing market growth if units were to be sold individually.
Breakdown
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£1.74m
Purchase price
£2m
Development costs
£3.74m
Total project costs
£5.5m
Valuation (8% yield)