The Textile Building

From £120,000 - projected yields 5.9% - 6.7% 

We believe in this project so much – that we’ve invested our own capital into making it a success!

 

A beautiful UK heritage property in Newark, just outside Nottingham.

Prices from £120,000 – projected yields 5.9% – 6.7%

Cash Buyers:
10% deposit – £12,000
Completion – £108,000

Bond Buyer (60% Mortgage)
10% deposit – £12,000h
Completion – £36,000

(Mortgage – £72,000)

Why The Textile Building?

1) 39 Apartments Only

2) Landmark Victorian Building

3) First ever conversion of this style in Newark

4) Award winning architects and designers

5) Original period features

6) 5.9% – 6.7% yields

Why Newark?

1) Prices up 20% last year according to Halifax (the biggest mortgage lenders in the UK) making it the second best performing town across the UK
2.) Strong Yields – Driven by a lack of supply yields are expected to range from 5.5%-6.7% in the building.
3.) Low unemployment- 3.5% compared to national of 3.8%
4.) Young and Growing population – 78% of the population aged below 54. 50.5% of the population aged between 20-54. Population expected to double the 2011 census population of 43,000 residents.
5.) Transport connections – 1hr 20 to King’s Cross
6.) Regeneration – Newark Town to receive £25m as part of the government towns fund initiative
7.) Quality of life – 24th on a shortlist of 50 places on the Halifax quality of life survey 2020

 

ENQUIRE

The Textile Building

Payment Plan Example

(Exchange Rates as of Jan 2023)

Starting prices: 

1 bed: £117,500 (6.38% yields)  R2,398,807

2 beds: £212,500 (6.78% yields) R4,338,269 includes parking 

Payment Plan Example for 1 bed at £117,500:

WITH NO MORTGAGE

  • Reservation: £2,000 /  R40,830(refunded on exchange)
  • 10% Exchange (Q1 2023): £11,750 / R239,880
  • 90% Completion (Q4 2023): £105,750 / R2,158, 927

WITH MORTGAGE

  • Reservation: £2,000 / R40,830(refunded on exchange)
  • 10% Exchange (Q1 2023): £11,750 / R239,880
  • 90% Completion (Q4 2023):
  • Interest Only Mortgage at 65% ~ £76,375 / R1,559,225
  • Investor Cash Required – £29,375 / R599,701

Total Cash Required £41,125 / R839,582 (if using 65% UK mortgage)

Payment Plan Example for 2 bed at £212,500:

WITH NO MORTGAGE

  • Reservation: £2,000 /  R40,830(refunded on exchange)
  • 10% Exchange (Q1 2023): £21,250 / R438,130
  • 90% Completion (Q4 2023): £191,250 / R3,943,173

WITH MORTGAGE

  • Reservation: £2,000 / R40,830(refunded on exchange)
  • 10% Exchange (Q1 2023): £21,250 / R438,130
  • 90% Completion (Q4 2023):
  • Interest Only Mortgage at 65% ~ £138,125 / R2,848,524
  • Investor Cash Required – £74,375 / R1,533,821

Total Cash Required £95,625 / R1,972,291 (if using 65% UK mortgage)

 

 

 

 

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