Construction development update report August 2023
Below you can see the current images of our project in Leeds city center, taken from outside the building on 08 August 2023, which clearly show the construction progress.
Construction of the project started at the end of 2020 and has by now sold %90 of the stock. Originally planned for completion in Dec 2023, the development will now be handed over to their happy residents in October 2023, two months earlier than planned.
Letting agents Monroe have been given one of the commercial units in the building to manage rentals onsite from October onward.
A great time for ‘Buy to Let’ investments
According to the survey results published by BBC on Wednesday 26 July (commissioned by the company and undertaken Rightmove) “competition among renters is so intense that there are 20 requests to view each available property.
Rightmove published itself their UK Rental Price Tracker for Q2 2023. In it, the company notes that rents have risen by a third since 2019, whereas they only rose by a total of +8% between 2015 and 2019. This, it says, highlights “the rapid increase in new asking rents as tenant demand has increased and the number of properties available to rent has been steadily squeezed since the pandemic.”
Springwell Gardens, with its central location and just around the corner from the business district that offers a potential of thousands white collar tenants is an ideal investment opportunity for both investors as well as families that are looking for a modern home.
You can also watch the drone footage of our project recorded in March 2022, which we have published on our Youtube account.
March 2022 drone footage