X1 THE EXCHANGE
www.knightknox.com
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140 spacious 1 and 2-bed apartments
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Built by the developer of X1 Salford Quays 1 & 2
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Assured rental yield of 6% for the first year
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Direct views of Salford Quays
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10 minutes from Manchester city centre
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Within walking distance of MediaCityUK, The Lowry Theatre and Manchester United Football Club
INVESTMENT HIGHLIGHTS
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The information contained within this document is intended as a general guide. This information does not constitute an offer or a contract and we (or anyone in our company) do not imply, make or give any representation, guarantee or warranty whatsoever relating to the terms contained within. Any intending investor must satisfy themselves as to the correctness of any of the statements, plans or images contained within. Images are for representational purposes only. The content contained within is correct adhering to the previous statement at the time of publishing.
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Comprised of 140 apartments overlooking the historic Salford Quays waterfront, X1 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.
KKI’s
30th Exclusive Buy-to-let Development
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Attracting approx. 7 million visitors, at a value of around ÂŁ479m, 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. X1 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.
X1 THE EXCHANGE
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The demand for rental accommodation in the UK is the highest it has ever been, as the continued rise in house prices ensures that firsttime buyers cannot afford to take that first step onto the property ladder. Instead, tenants are looking for high-quality rental accommodation, in properties which they can essentially move straight into, without the hassle of waiting for it to be redecorated or repaired.
No investment can ever be considered safe, but there are certain sectors, like buy-to-let, where you can minimise your risk. Purchasing a buy-to-let property is once again being viewed as a way to generate a positive cash flow on your investment, as income is generated not only on rent, but from the capital appreciation gained on the property from the start. Manchester is one of the strongest rental markets outside of London, due to a severe shortage of new-build stock for at least the past five years.
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Manchester named in the ‘Top 4 Buy-to-Let Hotspots’ in the UK by HSBC in 2013
ABOUT BUY-TO-LET
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Buy-to-let properties are increasingly becoming a more ‘hands-off’ investment than they have ever been, due to the improved quality of the lettings and management agencies that maintain the property. This leaves landlords confident that their tenants arebeing looked after and, coupled with the knowledge that there should be minimal maintenance required on the property for at least the first couple of years; off-plan buy-to-let is actually a cheaper option in the long-term for any savvy investor.
By 2020 as much as a third of the population could be private tenants
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A specialist in the UK buy-to-let sector, Knight Knox International has released over 18 exclusive developments in the past 12 months, all of which are located in prime rental areas and offer on-site lettings and management through companies which are highly experienced in this sector.
Local Cities Liverpool - 34 miles Leeds – 42 miles Birmingham – 86 miles London – 200 miles
MANCHESTER
ABOUT BUY-TO-LET
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X1 The Exchange will contain 140 one and two-bed apartments built over 10 floors, allowing residents views of the city and Salford Quays.
One-bed apartments from £102,500 Two-bed apartments from £127,500
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% (Typical after 1-year rental assurance)
Salford named in the ‘Top 10 Best Areas to Buy’ in the UK Adzuna 2013
INVESTMENT OPPORTUNITY
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www.knightknox.com
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33
2
KEY
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2 3 4
Old Trafford Lowry Theatre Manchester Central
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Beetham Tower Victoria Train Station Piccadilly Train Station
36 3 4
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1 X1 The Exchange MANCHESTER www.knightknox.com
Q & A
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FREQUENTLY ASKED QUESTIONS E X C H A N G E
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 Q2 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
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1. Speak to a Property consultant and select a unit
2. Complete the reservation form and pay the deposit
3. Solicitor instructed, legal documents and sales pack sent out
4. 25% payable within 21 days, upon exchange of contracts (less the reservation fee)
5. 25% payable 6 months from commencement of works
6. Balance of 50% payable upon completion of your apartment
* Contracts need to be exchanged within 21 days of reservation/planning approval
Stages Of Purchase
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• Once
your
unit(s)
has
been
• Your
first
installment
payment
selected with the help of your
will be made when you exchange
property
please
contracts. Your solicitor will inform
reservation
you when they have the date for
agreement and return along with
exchange providing you with an
a copy of your passport, recent
adequate notice period, at the
utility bill and your deposit. The
time of exchange you will also be
bank transfer details will be found
required to sign and return your
on the reservation agreement.
contracts. If you are unable to
complete
consultant, the
do this due to your location your • You
are
required
to
pay
solicitor will be able to act as your
a
Power of Attorney. Please note that
reservation deposit.
your solicitor may charge a fee for this service.
• Once your Property Consultant has confirmed they have received your paperwork, you will need to
• After
you
have
instruct a solicitor. Your consultant
contracts
will be on hand to help you with
welcome letter from the developer
this should you require assistance,
which will detail the future service
as
they will provide and include all
we
have
a
selection
of
you
will
exchanged receive
a
contact details.
recommended solicitors who are experienced in handling buy-to-let investment transactions.
•
Your final payment will be due when construction completes.
•
Your solicitor will advise you of the paperwork they will require from you. Please return this promptly to reduce the risk of delays.
PURCHASE PROCESS
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We are a long-standing company,
Knight Knox International has a partner
founded in 1997 (a LTD company since
network of over 200 offices worldwide.
2004) with an excellent reputation. We sell property in over 50 countries We have a large experienced team of
worldwide and have local expertise on
over 30 staff, with a collective property
the ground in every location.
experience of more than 200 years. We cater to all types of clients, from Knight Knox International sell over 1,000
first-time buyers to large investors,
properties a year, with a total value of
helping build property portfolios and
over £100 million.
establish good income returns.
We have exclusive market-leading
Most of all, our clients buy with us
products that are hand-picked proven
again and again because we’re honest,
investments that sell in volume.
experienced, professional and market the best opportunities.
We are one of very few companies to experience ‘full market cycles’
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“ I am very happy with my purchase and have just signed up with X1 for the continued management of the properties. Should funds become available in the future I would certainly be interested in other properties. �
Mr. R. Thompson, Buyer
WHY INVEST WITH KKI?
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X1 Developments is an investment company based in the heart of Liverpool, which meets the needs of UK and overseas investors looking for an organisation that offers exceptionally
high
quality
investments,
which have been selected and overseen by individuals who have unrivalled knowledge, experience and background in the product, market sector and location.
Not only does X1 Developments offer an exciting portfolio of real estate investments, but it also offers a follow-through service via its sister company X1 Lettings, which carries the same high level of expertise in order to manage and protect our clients long term investments.
X1 Town Hall
X1 Arndale House
X1 Salford Quays Phase 2
The Courtyard at X1 The Quarter
X1 Developments is THE Company for anyone looking to invest in Liverpool & throughout the U.K, with a track record of past developments which speaks for itself.
Download the new X1 Developments app from the Apple Store for further details on all X1 projects, including images, movies, panoramas and detailed descriptions.
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X1 Chapel Street
X1 Salford Quays
The Gallery at X1 The Quarter
The Studios at X1 The Quarter
DEVELOPER PORTFOLIO
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Market Leaders in Worldwide Property Investment www.knightknox.com +44 (0)161 772 1370
0918V2