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Sunderland House
Sunderland, United Kingdom
Apartment, Room(s):1 - 4
from  36-77 m²
69.950,00 GBP

7% Rental guarantee per annum for 3-5 years! 

Buyback guarantee in year 5!

Sunderland House

Sunderland House is situated within the North Eastern sector of the City and comprises of stylish studios, one, two and three bedroom apartments, all of which represent the ultimate in luxury housing. Each apartment is designed to offer a high specification, contemporary finish, whilst maximising the use of space and natural light. The result is a collection of stunning apartments which deliver in terms of quality, aesthetics and comfort.

With its central location, Sunderland House is at the heart of the historic City and all that it has to offer. From its large shopping centre, to the nearby multiscreen cinema, residents of Sunderland House are in a prime location to make the most of the many amenities and leisure facilities in close proximity. For those wishing to take advantage of the relaxing, less urbanised areas of the City, there is also the opportunity to enjoy numerous vast open spaces, including the newly completed £2.0million Sunniside Gardens. These gardens were developed as part of a £130 million regeneration project in the area, which includes a £6m business and arts centre.

The extensive transport links around Sunderland House, including the nearby National Rail and Metrolink stations, are also an attractive trait of this development, particularly for those wishing to commute out of the City.

The exquisite interiors, the impressive exterior, the central location, and the proximity to great transport links and leisure facilities, makes Sunderland House an unmissable opportunity for those wishing to reside in this beautiful city.

THE CITY OF SUNDERLAND

Home to approximately 300,000 residents, Sunderland is the largest city between Leeds and Edinburgh. It boasts the perfect blend of lush green spaces, a breath-taking coastline, and the buzz of city life. It is this idyllic mix of rural and urban life that makes Sunderland a much desired location. This modern, cosmopolitan city is awash with historical attractions such as the Washington Old Hall, Sunderland Museum & Winter Gardens and Hylton Castle; and with such an abundance of cultural and historical gems to marvel at, Sunderland is sometimes cited as ‘The Bruges of the North’.

Sunderland is one of the largest shipbuilding towns in England, and has a proud heritage. It is famous for its many iconic landmarks, including the Wearmouth Bridge and the Queen Alexandra Bridge.

The City also holds the accolade of being the birthplace of the first stained glass window and the first brick built church in England.

However, whilst there are many historic and cultural highlights within the region, Sunderland is also a very progressive city, and is identified as one of the world’s top ‘IT intelligent communities’. It has led the way in the world of software development and networking facilities and is a key player in the UK telecommunications industry. Testament to this is the fact that many blue chip companies are located within Sunderland including Barclays, Nike, Northern Rock, T-Mobile and EDF Energy, all of which offer significant employment opportunities to local residents.

Sunderland is without a doubt a city ripe for investment, and the Council has an ongoing partnership programme in place with private sector businesses to ensure growth in the city, through the creation of new jobs and external investment. As part of this investment there is a proposal for the development of a 100 hectare International Advanced Manufacturing Park (IMAP), providing over 5,200 jobs. This park will provide modern business premises which will build on the region’s advanced manufacturing heritage. With over £2billion worth of regeneration projects in progress, it is clear that the city is on track to achieve its aim of becoming ‘the most liveable city in the UK

Specification

Self-contained studio/One, Two

& Three Bed Apartments

• Storage

• Wardrobe

• Work Station

• Hob/sink/fridge freezer

• LCD TV

• High-speed internet connection

Local Area

• Located in the heart of Sunderland

• Excellent transport links and close to both rail

and Metrolink stations

• A wide rage of bars, clubs, restaurants and

shops for residents to choose from


IMAR CONSTRUCTION MISSION

Logan residential and commercial developments are built by IMAR Construction. IMAR Construction was founded in 1985 when Abruzzi Enterprises Cored and Ansa Construction joined together. Today it is considered one of the most reliable, solid and qualified Italian construction companies.

The IMAR Building is endowed with its own technical organizing know-how thanks to the availability of cutting-edge equipment and technologies and a work group composed of highly motivated professionals and skilled workers who collaborate in a synergic way with a network of reliable advisors and partners.

This wide background of experiences and professionalism in civil engineering allows IMAR Construction to answer the growing complexity of requests and to guarantee a constant control in the execution step. This assures the optimisation of the production costs in the full respect for the safety of the project, the times scales and of the works quality.

IMAR continues to be a modern enterprise leader in the realization of developments through experience in the industrialised building techniques and the use of the most innovative techniques available on the market.


Purchase process

1. Once your unit(s) has been selected with the help of your property consultant, please complete the

reservation agreement and return along with a copy of your passport, recent utility bill, and your

deposit. The bank transfer details will be found on the reservation agreement.

2. You are required to pay a reservation deposit

3. Once your Property Consultant has confirmed they have received your paperwork you will need to

instruct a solicitor. Your consultant will be on hand to help you with this should you require assistance

as we have a selection of recommended solicitors.

4. Your solicitor will advise you of the paperwork they will require from you. Please return this

promptly to reduce the risk of delays.

5. Your first instalment payment will be made when you exchange contracts, your solicitor will

inform you when they have the date for exchange providing you with an adequate notice period. At

the time of exchange you will also be required to sign and return your contracts. If you are unable to

do this due to your location your solicitor will be able to act as your Power of Attorney. Please note

there is normally a small fee for this service.

6. After you have exchanged contracts you will receive a Welcome letter from the developer

which will detail the future service they will provide and include all contact details.

7. Your final payment will be due either on exchange

of contracts or shortly afterwards.


FAQ’S

Am I buying as Freehold or Leasehold?

999 years Leasehold

What is the address of the site?

42-45 Nile Street, Sunderland, SR1 1ES

When will the building be completed?

July 2017

Is there a rental guarantee?

Yes, rental guarantee is 6% for Three years from

completion

What is the projected return pa after year 3?

Currently 8.5% NET (conservative after running costs,

management fee, service charges and utilities)

Is the sale handled by UK lawyers?

Yes, the designated lawyers for the project are

Jefferies Law, UK.

Is there a management company already in place?

Yes, the designated management company for the

project is Belvoir Property Management (UK) Ltd

When is my rental income paid?

This is paid quarterly in arrears direct into your bank

account from completion

Am I taxed on this income?

If you are a UK resident then yes. If you are a ‘nonresident’ in the UK then you are classed as an

‘overseas landlord’ and apply to the HMRC in the UK for exemption - the appointed management company

will be able to help with this

Can I resell my unit?

Yes, you can sell at any time after exchange of

contract

Can I do anything I want with my apartment?

Yes, the apartments also have full residential use.

Thus can be let to anyone including couples, families, young professionals and students

Are there any restrictions if I want to sell?

Sunderland House is a residential development therefore there are no restrictions when selling

on the unit.

What security do I have when I exchange contracts regarding my funds?

There is a first charge in place, ensuring Investors

funds are held securely with solicitors.


THE INVESTMENT

Example Units*

Studio Apartment £69,950 6% Assured Rental Yield (for 3 years)

1 Bed Apartment £89,950 6% Assured Rental Yield (for 3 years)

2 Bed Apartment £99,950 6% Assured Rental Yield (for 3 years)

3 Bed Apartment £129,950 6% Assured Rental Yield (for 3 years)


Studio Apartment

Purchase Price £69,950

Gross Annual Income** £4,800 (£400 pcm)

Maintenance £250

Ground Rent £65

Management Fees £216

NET Income £4,269

NET Yield (from year 3) 8.5%


One Bedroom Apartment

Purchase Price £89,950

Gross Annual Income** £5700 (£475 pcm)

Maintenance £300

Ground Rent £100

Management Fees £260

NET Income £5,040

NET Yield (from year 3) 8.5%


Two bedroom Apartment

Purchase Price £99,950

Gross Annual Income** £6,840 (£570 pcm)

Maintenance £350

Ground Rent £125

Management Fees £313

NET Income £6,052

NET Yield (from year 3) 8.5%


Three Bedroom Apartment

Purchase Price £129,950

Gross Annual Income** £7,860 (£655 pcm)

Maintenance £375

Ground Rent £140

Management Fees £330

NET Income £7,015

NET Yield (from year 3) 8.5%