O'Neil Property Services are please to offer these luxury and elegant apartments for sale at The Exchange Development in Salford Quays. Comprised of 140 apartments overlooking

the historic Salford Quays waterfront, The Exchange brings luxury and elegance to this popular rental area. Home to MediaCityUK, the Lowry Theatre and the Manchester Imperial War Museum, Salford Quays is an area that has been cited for future growth, due to the vast amount of regeneration in the area since the BBC moved there in 2011. Attracting approx. 7 million visitors, at a value of around £479m, it is little wonder that Salford Quays is at the top of the list for residents seeking good quality properties, in a location that is accessible for both commuters and city centre workers alike. The Exchange follows the highly successful formula of sold-out projects X1 Salford Quays 1 & 2. Built to the same high standard and offering fully furnished options, in addition to secure parking spaces, these high-end apartments are certain to generate a huge amount of interest from the local rental market.

 

FINANCIAL PROJECTIONS

Purchase Price: £102,500

Est. monthly rent: £675

Est. annual rent: £8,100

Est. maintenance figure: £968

Est. management fee: £648

Est. ground rent: £250

Est. NET income: £6,234

Est. NET yield: 6.1%

 

WHAT YOU NEED TO KNOW

Am I buying as Freehold or Leasehold?

140 years leasehold

 

What is the address of the site?

Trafford Road, Salford Quays, Manchester M5 2AW

 

Are there tenants already in place?

No. This is a new-build development which will be furnished to the highest of standards and ready to accept residents in Jan 2016

 

What are the projected annual returns on this project?

There is a rental assurance in place for the first year of 6% NET

 

Can I receive finance on this development?

There is currently no finance offered by the developer

 

When is my rental income paid?

This is paid quarterly in arrears direct into your bank account from completion

 

Is there a management company already in place?

Yes, the designated management company will be X1 Lettings, who will block manage and let the building

 

Can I resell my unit?

Yes, you can sell at any time after exchange of contract

 

Are there any restrictions if I want to sell?

No, X1 The Exchange is a residential development so you are free to sell your unit on the open market as a buy-to-let apartment

 

WHAT TO DO NEXT

1. Speak to a Property consultant from O'Neil Property Services and select a unit

 

2. Complete the reservation form and pay the reservation fee

 

3. Solicitor instructed, legal documents and sales pack sent out

 

4. 25% payable within 21 days, upon exchange of contracts (less the reservation

 

5. 25% payable 6 months from commencement of works

 

6. Balance of 50% payable upon completion of your apartment

 

For more information please contact O'Neil Property Services