Issue 9, April 2022
Wolverhampton
contents 8 OFTEN IMITATED, NEVER EQUALLED.
CEO Letter
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Q1 Review, Q2 Preview
Alasdair Walker: Marketing Director Amy Marshall: Chief Writer/Editor Nevena Djuranovic: Art Director Isidora Mladenovic: Brand Strategist
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Planning Life after 70 Cricket UK Developments
DUBAI DEVELOPMENTS
20 UK Q1 Market Review Dubai Q1 Market Review
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86 Tax and Saving Loopholes for Landlords
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Dear Investors, Family and Friends,
Q1
changes in market conditions and be your expert guide on all matters
2022 can be summarised in
property investment-related.
one simple statement: We
are in this together!
Looking ahead, our projects at Wolverhampton and Manchester are
This is demonstrated by the fact that
due to complete this quarter.
we, the team at TD, continue to invest
Construction sites have been incredibly
alongside our investors recognising the
active throughout Q1 as our sites at
potential in each project and seeing
Preston and Liverpool are nearing
the success of the collective portfolios
completion too. As projects reach this
we’re building. We trust that this
stage, ROIs often come into sharp
strengthens your confidence in TD and
focus and projects demonstrate just
offers further assurance knowing that
how much growth has taken place
we are with you every step of the way,
throughout the development phase. In
acting as a truly invested partner.
the coming months, investors will begin to enjoy rental income and
This partnership with investors goes
returns will be realised.
further than our confidence in the developments we offer; TD provides
Finally, I would like to congratulate our
insight and guidance on broader
very own Kaz Topham. He has secured
aspects of the property investment
the final apartment at the Waterside
market. Namely, regulation, market
Mill conversion in Burnley. Nice play!
conditions, project stages and delivery timelines. Our stringent due diligence
Warmest regards,
processes help to mitigate risks from the outset, this foresight allows us to manage expectations and deliver the shortest possible time to value. We will
Stuart Williams, CEO, Founder
continue to keep you up to date with progress on projects, consult on
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review
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preview
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FROM THE LONDON OFFICE
Review of Q1
The country is truly emerging from the
release, when we launched in January
end of the pandemic, businesses are
2020.
reopening, bigger teams are back on site and a number of developments are
Several developments sold out across
now nearing completion including
the country including Ancoats Gardens
Derby Court in Liverpool, Regent Plaza
and Wardour Point in Manchester,
in Manchester, and Churchside
Wilberforce Court in Hull, and most
Apartments in Wolverhampton.
recently Healy Wood Mills in Burnley where we sold out the entire
The latter has arguably been the most
development in just 3 weeks.
lucrative investment for our early investors with valuations showing an increase of up to 30% for those investors who got in at the start of the 12
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Q2 Preview
Q2 has some exciting developments in
Wood Mills, TD will be launching our
store. A new icon in Manchester City
second Mill conversion, although this
Centre – Vision Tower. A stunning new
is expected to sell out even quicker
residential tower with everything a
than the first one with a number of
resident could want. Located in the
clients already submitting deposit
heart of the city, just a short walk
payments ahead of the release!
from the central business district and the new skyscraper district at the end
Several new developments across the
of Deansgate. Early investors here are
UK are currently under review by the
set to see 15-20% growth throughout
TD analysts, so no doubt we will see
the build and estimated 6-7% rental
further launches in the coming
yields on completion.
months…
In Burnley, after the success of Healy 14
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FROM THE DUBAI OFFICE
Q1 Review
The Dubai property market is the
boutique development with 5-star
fastest market on the planet with
resort style facilities that will generate
records being broken almost every
returns for our clients of 8-10% NET
week in terms of transaction numbers.
per annum on completion.
Thirlmere Deacon was heavily involved in the launch of Select Group’s
And if that sounds fast…we managed
Peninsula development close to the
to secure a handful of apartments for
iconic Burj Khalifa with over 700
clients in the Dubai Holdings/Meeras
apartments sold in a 5-week period.
developments Madinat Jumeriah Living and Central Park developments. The
Q1 also saw the launch and sell out of
first sold out in 4 hours, the second in
Ellington Properties flagship
just 2 hours! With over 200
development in Dubai’s newest ‘green’
apartments in each development, the
community in Mohammed Bin Rashid
appetite to secure luxury homes in
City called Kensington Waters. A
Dubai is clear.
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Q2 Preview
Following the success of Ellington
world’s largest real estate brands LIV
Properties’ Kensington Waters
who are well known for their Beverley
developments, TD has an exclusive
Hills Mansions, for what is going to be
partnership to present the new
the final 5-star development in Dubai
Berkeley Place development to our
Marina. Located in the ‘Five Star
investors with uninterrupted views of
Quarter’ next to the Grosvenor House
the Burj Khalifa, facilities that you’d
Hotel and a short walk from the world
expect to find in one of the world’s
famous JBR Beach, this is a
finest hotels, and early investor prices
development that both investors and
well under that of other developments
owner-occupiers are jumping at the
in the area, investors getting into this
chance to be a part of.
scheme early should see growth of 20%+ by completion on top of rental
Toward the end of Q2, we will see
yields up to 14% NET.
several new developments in the Dubai Hills and JVC areas of Dubai…
TD has also partnered with one of the 18
but they are under wraps…for now! 19
Market
UK PROPERTY
REPORT
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The first three months of 2022 have
double-digit growth has been seen
been especially busy for the UK
across 70% of the UK in that period.
property market despite a level of
But it’s not just prices that are rising,
uncertainty being cast by wider
properties that are becoming available
influences. Both the sales and lettings
for sale are being sold incredibly
markets have squashed talk from those
quickly, 20 days quicker than the
who predicted demand might finally
long-term average, according to
cool off now that the stamp duty
property portal Rightmove. The latest
holiday is well and truly over, and that,
provisional estimates from the HMRC
to some a degree, ‘normality’ has
indicate that over 112,000 sales took
resumed. Demand for UK property
place in February 2022, over 12%
both for sale and to let has instead
higher than the monthly average over
gone from strength to strength and
the past 10 years.
shows no sign of abating. Average property prices rose by 9.6% in the year to January 2022, and
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Changes
TO LEGISLATION
In February 2022, the government
Performance Certificate (EPC) rating
announced their ‘Levelling Up’ White
of ‘C’ or higher by 2030, meaning
Paper that included a new Decent
those properties that fall short of this
Homes Standard to improve property
efficiency will not be able to be let.
conditions for tenants and the potential to explore a National
Whilst it is worth landlords taking note
Landlord Register to decrease the
of these announcements, those who
“number of non-decent rented homes”.
invest off-plan or in newly built luxury properties can rest assured their
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The government has also set out their
properties will largely surpass the
intention to make it mandatory for all
requirements set to be brought in by
rental properties to achieve an Energy
the government.
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UK RENTAL
property market
The number of tenants looking for a
they’re rising at the fastest rate seen
property to rent is only set to go one
for 13 years.
way in the coming years – up. It is estimated that for 83% of renters
Rental values across the entirety of the
finding a 5% deposit remains a barrier
country are expected to continue to
to them getting a mortgage and buying
rise through Q2 with the Royal
a home.
Institution of Chartered Surveyors (RICS) projecting annual growth of
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This has been reflected across the UK
4.5%, and looking further forward,
with demand only growing for rental
they expect rental prices to rise 5% per
property, significantly outpacing supply
annum over the next 5 years.
causing an acute imbalance and putting
Urban locations, and those areas that
upward pressure on prices. Due to the
offer an easy commute into a nearby
severe shortage of property to let,
business hub, in particular, are seeing
rents have risen steeply across much of
their popularity increase tremendously
the country over the first three months
as many of those who left cities during
of 2022 and according to Zoopla,
the pandemic return to the office.
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Outlook FOR Q2
Based on the latest RICS industry
sometimes the greatest opportunities
sentiment survey, house prices and
present themselves in times of relative
rental values are expected to rise over
uncertainty. Property price growth is
the next three months, despite
predicted to outperform economic
external factors. And whilst the Bank
growth this year, averaging at 7.4%
of England has recently raised the base
over 2022. The unwavering tenant
interest rate to 0.75%, leveraging
demand is pushing rental growth at a
money in the form of a mortgage
stronger rate than sales prices in many
continues to deliver the greatest return
parts of the country, setting yields on a
on investment (ROI) for investors.
positive trajectory.
Seasoned investors will recognise that
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Average property prices rose by
9.6% 13 years 83% in the year to January 2022
Rental prices rising at the fastest rate seen in
(OFFICE FOR NATIONAL STATISTICS)
( ZOOPLA)
GENERATION RENT
of renters cannot afford to buy (BANK OF ENGLAND)
Rental prices to rise
5% 7.4% per annum over the next 5 years
(ROYAL INSTITUTION OF CHARTERED SURVEYORS)
KEY STATS 30
Property price growth is predicted to outperform economic growth this year, averaging
over 2022 (UK GOVERNMENT)
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Market
DUBAI
REVIEW
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Newspaper journalist Jay Rayner often
The latest statistics reveal Dubai has
holds column writing masterclasses on
had a fantastic start to the year against
the art of writing about the same
the backdrop of being crowned the city
subject repeatedly. The relevance to
with the highest average rental yields
the Dubai property market, you may
for 2021. Coming in at 9.19% for the
ask, is that the story is very much the
previous year, this put Dubai well
same throughout Q1 of 2022, as we’ve
above the likes of London, New York
written about in previous magazine and
and even LA for average rental yields.
article reports throughout 2021. In 2022, research by CBRE found that For anyone who has missed the memo
Dubai has seen a 9.3% average increase
- entry points in Dubai are low paired
in property prices in February 2022
against high rental yields, and the
compared with the same time last year.
story looks very much unchanged
While this is excellent news for
where Q1 2022 is concerned. All of
existing investors, for upcoming buy-
which continues to paint an extremely
to-let investors, there’s also plenty to
positive picture of the Dubai property
be optimistic about.
market for investors.
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Focusing on some of the key locations
City - the rental growth was 0.8%
in Dubai that are most in demand,
which for a MoM increase isn’t bad
Palm Jumeirah saw the biggest MoM
going at all. If this rate were to
rental increase at 2.9%, followed by
continue throughout the rest of the
Business Bay at 2.8%, which happens
year, this would still equal a 9.6%
to be the location of one of our newest
increase year on year, despite this area
developments, The Peninsula, with
not faring as strongly as Business Bay,
prices starting at just £128,000 with a
Downtown Dubai or Dubai Marina.
project annual ROI of 8%. Another point to consider as an
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Across the board, very few areas of the
investor is of course the overall market
city saw negative growth. Khaleej
picture at this time. Tourism happens
Times also reported in February 2022
to be a key player within the Dubai
that Dubai property prices and rents
economy which in turn creates jobs and
are growing at their fastest rate since
therefore demand for housing. In 2021,
2015. Even when we look at the lowest
Dubai saw a 32% increase in visitor
figure on our list of the most notable
numbers returning to 74% of its pre-
areas of Dubai, such as Dubai Festival
pandemic visitor levels in less than two
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years. For context, Heathrow Airport in London operated at just 25% normal passenger levels during the same period. Dubai International Airport actually overtook Heathrow in terms of passenger numbers during this time handling 29.9 million passengers. What investors can take away here is that Dubai has proven itself to be incredibly resilient, even when it comes to one of the hardest hit industries during the pandemic. In essence, people want to visit Dubai just as they want to live and work here - and they all need a place to stay! Coupled with an extremely high standard of build quality, zero income tax for residents, political stability and year-round sunshine, Dubai continues to be an extremely attractive prospect for property investors. We’re predicting that the next time we come to do this report, the picture will remain much the same.
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Dubai average increase/year
9.3% MOM CHANGE FEB 2022: Dubai average
0.4%
Business Bay 0.4% Downtown Dubai
0.2%
Dubai Festival City
2.7%
Dubai Marina 0.3% Jumeirah 2.7% Palm Jumeirah
2.7%
The Old Town
0.9%
DUBAI RENTS MOM CHANGE FEB 2022: Dubai average
2.1%
Business Bay 2.8% Downtown Dubai
2.5%
Dubai Festival City
0.8%
Dubai Marina 3.0%
KEY STATS 40
Jumeirah 2.6% Palm Jumeirah
2.9%
The Old Town
2.8%
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CASE STUDY
property THIS IS
INVESTMENT
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Investors new to Thirlmere Deacon might wonder how the entire process of investing in property with our guidance works. Taking a consultative approach enables us to carefully align an investor’s ambitions with an opportunity set to achieve those goals. What better way to demonstrate how the process works than to display the stages of a real case study from conception to completion.
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In December 2019 we began talking to prospective investors about Wolverhampton and an exciting new project there that was being delivered by a reputable developer. Diligent in our approach, Thirlmere Deacon will only put their name against those developments for which
THE DEVELOPMENT:
Churchside
we have analysed the area and vetted the plans for construction and the projections for delivery. Investors will only be aware of opportunities we truly believe in – Churchside Wolverhampton ticked all the boxes. The building includes a mix of 126 one-bedroom apartments and 18 twobedroom apartments arranged over six storeys. Each apartment is immaculately finished and designed to include cutting edge economical heating and water heating systems to
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ensure the properties are highly energy-efficient. In terms of location, Churchside is an ideal base for life in the city, close to the local amenities and just a short walk from the city centre. In the immediate vicinity, there is a local park and residents are just moments from the picturesque grounds of the Grade II listed Church of St John in the Square. With the developer’s strong track record, attainable prices, projected yields it’s of little surprise that the entire development sold out within weeks of launching.
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THE LOCATION:
Wolverhampton
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A tertiary city that has a lot to offer, Wolverhampton might be overlooked by those investors who have their blinkers solely focused on big city names. Wolverhampton is undergoing significant regeneration, the local government are committed to improving the city with multiple plans underway and further projects in the pipeline, both commercial and residential. The local economy is set to see a boost with expansion plans such as those at the i54 business park which is predicted to generate around 1,700 new jobs and another 128-acre site, a former munitions factory just 1 mile from
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i54 has received permission for redevelopment that could create a further 2,800 new jobs. Being so centrally located geographically it is ideally positioned in the heart of the West Midlands for connections to the rest of the UK, making it an ideal base for logistics companies. Whilst the city’s economy is thriving and it is an established business hub, by train Wolverhampton is just 15 minutes from Birmingham, making it ideal for commuters. The Churchside development, in particular, is well located being close to the university adding potential interest from students seeking private accommodation, as well as young professionals seeking well connected, yet affordable homes to rent. Rental yields for properties in Wolverhampton are between 5-7% depending on where and what you buy. As for property values in Wolverhampton, new analysis from Compare the Market forecasting that prices across the West Midlands could rise by as much as 29% by 2031.
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THE DEVELOPER:
Empire Property Concepts
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Churchside Wolverhampton was developed by Empire Property Concepts, a company whose reputation for selecting buildings ripe for redevelopment in locations primed for capital growth is becoming quite impressive. In an interview with Andrew Ward, the Founder and Managing Director of Solomon New Homes and Paul Rothwell, Managing Director of Empire Property Concepts, nearer the beginning of construction at Churchside, Andrew praised Empire’s ventures of repurposing previously redundant spaces turning them into modern residential apartments. He said “the
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locations that Paul chooses to develop, for me, that’s probably the most exciting aspect about the opportunity. Buying into areas that are maybe 20%-40% behind what the true value should be, and getting in at this early stage, that’s the beauty. The rental yield is fantastic, but the true value, I believe, is what the properties are going to be worth in three, five, ten years’ time.” For Thirlmere Deacon, Empire Property Concepts stand out as a visionary developer, one who transforms buildings in locations that are yet to realise their true potential. They deliver exceptional results in a timely manner, allowing investors to secure a profitable luxury rental property.
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THE RESULT:
Update for 2022
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Now, just over 2 years since the first investors secured units in Churchside we can reflect on the huge success that this project has experienced. The values of properties in Churchside have increased considerably, with those who purchased off-plan realising around a 35% uplift in prices. A staggering ROI in just a few short years. Churchside in Wolverhampton perfectly demonstrates that UK property offers an incredible opportunity for investors, it’s simply a case of knowing where to look, who to entrust and what to buy.
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to purchase in Wolverhampton Central Apartments From its inception, Thirlmere Deacon’s mission has been to offer investors authentic and comprehensive advice, conducting thorough due diligence on the exclusive opportunities made available to investors ensuring the potential for financial success is maximised. Offering a consultative approach, Thirlmere Deacon’s advice is tailored to an investor and their unique circumstances and ambitions.
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4
INITIAL DISCUSSION
PROGRESS TO COMPLETION
Our initial, no obligation discussion, is an excellent first
Thirlmere Deacon also works closely with legal teams to
step and a way to explore the driving factors behind an
oversee the conveyancing and ensure their client is well-
investment. Whether an investor is making their first
informed throughout the process. With off plan purchases,
purchase or their tenth property investment, this
Thirlmere Deacon provides regular constructions updates
conversation provides valuable insight and allows our
to investors so that they are aware of build progress
consultant to provide accurate advice.
and timelines.
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CONSULTATION
5
PROPERTY OWNERSHIP
Having understood an investor’s timescales and goals,
At the point of completion, Thirlmere Deacon is on hand
Thirlmere Deacon will create a tailored investment plan
to help an investor connect with letting and management
highlighting the properties and locations that match those
professionals as necessary.
ambitions. These options are discussed via zoom, video call or face to face if appropriate.
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SECURING AN INVESTMENT Once decided, the identified investment can be reserved.
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ONGOING INVESTMENT ADVICE Our relationship with investors rarely comes to an end when their purchase completes, we are available to provide ongoing investment advice in the pursuit of financial success.
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with Rob Keogh 70
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"For me, the long term goal is to take the pressure off life after cricket"
Northamptonshire batsman Rob Keogh discusses his next innings within the world of property
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Here at Thirlmere Deacon, our clients
closing chapter of his tenure as an
have a diverse range of backgrounds, not
exceptionally talented batsman for
to mention needs as investors that we are
Northamptonshire inches ever closer, now
especially keen to understand. Most are
felt like the right time for Rob to make
busy working professionals who are
his first investment with us as he looks
looking for an investment that will work
towards his future off the pitch.
hard on their behalf, as a reliable form of passive income in the short term, with a
As we ask all our investors when looking
view to holding onto their property to
to match up the right opportunity with
realise its true value over the long term.
their needs, Stuart began the interview with the age-old question of ‘why?’.
As well as corporate working
Specifically, in terms of what Rob was
professionals, we also have a particularly
looking to achieve with his property
close relationship with various sporting
investment. Also, why the offerings we
figures. We recently invited one of our
provide our clients here at Thirlmere
newest clients, cricketer Rob Keogh, into
Deacon made sense for Rob at this
our Mayfair office for a chat with our
particular point within his career.
Founder and CEO, Stuart Williams, to tell us more about his decision to invest in
Rob explained: “One of the reasons for
property.
getting in touch with Thirlmere Deacon is thinking about my life after sport and
Rob is now more than a decade into his
trying to make my money work for me
professional career as a cricketer. As the
now while I’m still playing.”
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He added: “My long term goal is to take the pressure off my life after cricket. If I go into a job that isn’t as well paid as cricket is for me now, it’s about knowing that my bills will be covered during the transition period.” We’re sure that Rob’s need for long term security will resonate with investors of all backgrounds, but particularly those within the sporting world. As a career, sport can be difficult to navigate financially because the high earning potential can often be capped to a specific set of years when the individual is at their peak professionally. Without careful financial management, not to mention forward planning, the individual could suffer a sharp drop in living standards once they retire from their sport, which is why making the right investments at the right time is key. In terms of why Rob chose property to gain that sense of financial security, he told us his reasons for doing so specifically over investing in other commodities such as stocks or cryptocurrencies: “I think it’s just well known that properties are safer investments. I mean, obviously, we’ve seen the recent crypto crashes, and I’ve dabbled a little bit in stocks and shares. But I’m a cautious sort of guy when it comes to that sort of thing, and after
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looking at what Thirlmere Deacon had to offer, it was just perfect for my personality and for my investment goals.” Stuart added: “From a commodities point of view, property is always seen as the safe bet because no matter what happens, people will always need a roof over their head. Crypto, as we can see now - I mean, it’s fantastic when it’s going in your favour - but with a stroke of a pen or a tweet from a certain billionaire, things just fall off the face of the earth. So it can change overnight, whereas property is always steadily rising. You might not get absolutely uber rich overnight, but you’re going to do well over a long term period.” The rental assurance Thirlmere Deacon guarantees for its clients was also particularly appealing for Rob, as he explained: “I always wanted to get into property, but I was worried about void periods with tenants, not having anyone in and potentially losing money. So the rental assurance stood out for me. It just seemed safer for my first investment. It’s been really easy for me to just concentrate on cricket and other stuff that I have going on in my life and let yourselves take care of everything else.” Asking Rob whether he had any advice for like-minded first time investors, he highlighted the importance of doing your
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research, telling us: “I think it’s important to understand property and being a landlord first. Understand the risks because there’s always a risk with every investment. Work out your end goal and find the best route for you.” Stuart agreed, adding: “That’s good advice. If you’re going to put money into something, spend some time on it, research it, speak to different people and see if you get the right fit. That is always my advice. The other main thing that everybody hears me say in all my articles and my videos is to look to the long term. Don’t think about buying property or any investment to turn it around in 18 months, six months. If you’re thinking about it from a 10, 12, even 15 year time view in mind, then you’re never going to go wrong. There’s always peaks and troughs, but usually, things are always on the way up.” Looking ahead, we were keen to ask Rob what was next for his investment portfolio, as he aims to create a solid plan that will allow him to transition from professional sport into other ventures over the coming years. Top of Rob’s agenda was investing in additional property abroad, with our
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offerings here at Thirlmere Deacon,
entry points, the city has become an
including the likes of our Peninsula
attractive proposition to investors of all
development located in Business Bay
calibres in recent times.
Dubai having caught his eye. He added that one of his current thought plans is to
Our chat with Rob was extremely
“own something abroad, either to use
insightful, and we wish him all the best for
personally or to rent out while I’m not
the rest of his professional career with
there.”
Northamptonshire, and his future plans to build up his investment portfolio.
Investing in a property such as our Dubai
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apartments would give Rob the option to
We are always happy to help those within
live part-time abroad or to keep the
the world of sport or other professions
property strictly as rental income for his
envisage their long term property
life back home. Once again, this sense of
investment goals. So, we definitely
flexibility is something that we are
encourage reaching out to us if Rob’s story
finding really appeals to our investors,
resonated with you as an investor,
especially as it’s possible to suit so many
including investors who are looking to
different lifestyle requirements within a
make their tentative steps within the
single investment strategy. In addition,
property market, or those wishing to build
the Dubai property market is performing
on an existing portfolio including by
exceptionally well and paired with low
investing in property abroad.
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Developments CURRENT
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Bastion Pointl, LIVERPOOL
FROM £189,950
Just moments from Liverpool city
Liverpool offers some of the most
centre and the Albert Docks World
impressive rental yields in the UK and
Heritage site, Bastion Point enjoys an
it is expected that properties in
idyllic position with culture, amenities,
Bastion Point will achieve a 7.5% net
transport connections and of course
rental income. Not just limited to
the infamous River Mersey all on the
long-term tenancies, Liverpool has a
doorstep.
thriving short-let market that could prove to be even more rewarding for
Designed with tenants in mind, each of
investors.
the apartments will offer the latest
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modern features and home comforts.
Furthermore, with robust price growth
The building boasts a residents’ roof
predictions across the North West
garden, concierge, and bike store. With
region of the UK, Liverpool is
parking spaces available to purchase at
predicted to see superior property
an additional cost.
price growth in the coming years: the
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latest house price forecasts for the North West region being 18.8% over the next 5 years. Liverpool is a city that’s experiencing widespread regeneration with over £15billion being pumped into existing projects and those in the pipeline. The local city council is committed to the widespread regeneration plans which include the major redevelopment at Liverpool Waters which is set to significantly transform the area. Liverpool is home to the UK’s fastestgrowing city centre population, with the number of people living in the city increasing by 181% between 2002 and 2015. The population is continuing to grow at a rapid rate and the North West as a whole is expected to see its population grow by 24% over the next 5 years. One of the Northern Powerhouse cities, Liverpool stands out from neighbouring locations due to its exceptional capital growth trajectory. The city-wide regeneration together with the continuously growing population makes Liverpool an interesting and potentially lucrative prospect for investors.
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With attainable property prices, strong predicted rental yields and exceptional potential for capital appreciation Bastion Point is an excellent opportunity for any prudent investor – just 67 units are available in the development. Set for completion in the second half of 2023, this residential development is being constructed by a trusted and experienced developer with an excellent track record.
KEY POINTS • New-build two-bedroom apartments • Prices from £189,950 • Top-performing UK rental market • Expected rental yields of over 7.5%, and over 21% on the Short-Term-Let model • 18.8% 5-year house price growth forecast (Savills, North West region)
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Vision, MANCHESTER
FROM £170,000
A magnificent new addition to
and sophistication that truly delivers a
Manchester’s skyline, Vision is a
superior quality of life to residents.
striking new landmark development in the very centre of the city.
Each of the luxurious and contemporary apartments has been
Perfectly located in the M1 postcode
designed with the resident in mind,
area, Vision is just moments from the
with practical layouts and quality
shops, restaurants, transport
finishes throughout, beautifully
connections and business districts.
complemented by high ceilings and expansive windows that provide
From the extraordinary building façade
spectacular views over the city and
to the hotel-style reception, world-
beyond.
class amenities, and meticulously
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designed accommodation, this
Vision boasts an extensive range of
prestigious development exudes luxury
facilities spread over 3 floors within
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the development including a concierge, gymnasium, yoga/spin studio, cinema, residents’ lounge, co-working spaces, coffee shop and juice bar. Arranged over 37 floors, there is a selection of studio, 1-, 2- and 3-bedroom apartments available with prices starting from £180,000 and an expected rental yield of up to 7.5%. Manchester is set to experience staggering price growth in the coming years with the latest forecasts from JLL predicting a 15.6% by 2026. Rental prices are also set to rise by a considerable amount over the same period, as the number of properties available to rent has fallen. Certain property types are set to see rental price growth of as much as 18.5% over the next 5 years.
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KEY POINTS • Iconic 37-storey tower in the heart of Manchester city centre • M1 postcode, located a 1-minute walk from Deansgate • A selection of studio, 1-,2 and 3-bed apartments • World-class amenities – Gymnasium, yoga/spin studio, cinema, residents’ lounge, co-working spaces, coffee shop and juice bar • Yields up to 7.5% with considerable rental price growth forecast • Manchester property prices set to rise by 15.6% by 2026 • Experienced developers with an excellent track record
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Berkeley Place, DUBAI
FROM 1.4MN AED
An elegant and luxurious new
roof terrace complete with BBQ, an
development finished to the highest
indoor and outdoor fitness studio,
specifications and designed to offer
steam and sauna, arcade room,
residents an exceptional standard of
residents lounge, basketball area,
living, located in one of Dubai’s most
bicycle parking, workspace and a
desirable districts.
dedicated kid’s zone.
Arranged over 12 floors, this exclusive
Many of the apartments will benefit
development includes studio, one and
from balconies and enjoy beautiful
two-bedroom apartments with prices
views of Dubai including Dubai Creek
from AED 992,828
Harbour, the Burj Khalifa and the picture-perfect Downtown skyline.
The development will boast a
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collection of wellness and
Perfectly located for life in Dubai yet
entertainment amenities including a
offering residents respite from the
rooftop infinity swimming pool and
busy city centre whilst having a broad
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selection of amenities on the doorstep; the Meydan area has seen its popularity soar. Meydan One Mall and Meydan Racecourse, the North London Collegiate School and Hearthland International School are all within 10 minutes of the development. Downtown Dubai, The Dubai Mall, Burj Khalifa and the Dubai International Financial Centre are all under 15 minutes’ drive away. This latest investment opportunity allows investors to secure property in one of Dubai’s strongest performing residential areas; property prices in Meydan are continuously rising month on month. Currently available at attainable prices and with rental values across the city predicted to continue to steadily rise over the coming years, those who secure off-plan are set to enjoy impressive returns.
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KEY POINTS • In the heart of the exclusive Meydan district • Beautifully designed with a luxury hotel-style finish • Collection of amenities including a rooftop infinity pool • Studio, one and two-bedroom apartments • Prices from AED 992,828 • Structured payment plan over course of the build • Completion Q4 2024
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Kensington Waters, DUBAI
FROM 1.5MN AED
Offering an idyllic haven in the heart
Centring around the beautiful pavilion,
of the city, Kensington Waters is a
the grounds and buildings offer an
luxury development set to be one of
oasis of calm, surrounded by greenery,
the finest residential addresses in
whilst having a wealth of facilities
Dubai.
from the semi-Olympic lap pool, kids play area and splash pad, retail stores,
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Comprising of two stunning,
fitness centre and dedicated
architecturally designed towers, each
workspace, to the pavilion clubhouse
offering 12 residential levels,
at the heart of the development which
connected via the central pavilion
has dining and lounge areas as well as
which boasts a collection of world-
a terrace with a BBQ and yoga area.
class amenities; Kensington Waters
There is also on-site parking, a bike
sets the bar for new developments in
studio and workshop and a hotel-style
terms of style and the quality of life
drop off and pick up area at the front
offered to residents.
of the pavilion.
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With an extensive selection of facilities and amenities and hotel luxury style, Kensington Waters is an exceptional address to call home. The development is perfectly located, close to the city centre and Dubai’s finest attractions including Dubai Mall and Downtown Dubai yet surrounded by parklands and greenery with Ras Al Khor Wildlife Sanctuary neighbouring. Mohammed Bin Rashid City boasts a choice of top schools, restaurants, and retail outlets and the Dubai Design District is nearby. This latest development of luxury apartments in Dubai will be completed by a multi-award-winning developer with a long track record of delivering high-end property in some of Dubai’s most sought after neighbourhoods. 106
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KEY POINTS • Yields projected up to 10% • Investor visa available • Prime Dubai location • Multi-award-winning developer • Studio, 1, 2, and 3-bedroom apartments • Luxury development with hotel-style facilities
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TAX AND SAVINGS LOOPHOLES FOR LANDLORDS
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It’s fair to say that property as an
make, especially in terms of property.
asset is highly regarded by investors.
That’s because if your financial affairs
After all, property is a tangible asset,
are not set up in the most efficient
there’s a high demand for it versus low
way, then you could be paying over the
supply, and the cost of purchasing
odds in tax and ultimately, your ROI
property along with its achievable
will reduce.
rental income continues to scale to new heights.
While we’d always recommend seeking independent financial advice, there are
However, keeping your ear to the
some common ways in which investors
ground when it comes to aspects such
can reduce their tax through various
as reducing tax or claiming allowable
landlord loopholes that exist. Here just
expenditure is still an essential
is a snapshot that we’d like to bring to
component of any investment you
your attention.
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USE
limited companies
TO INVEST IN PROPERTY
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If you’re subscribed to our YouTube
with to help our clients to set up
channel, then you’ll know we like to
limited companies for their buy-to-let
bring you all the latest news regarding
properties. Alongside company
our investment opportunities. We also
formation, GetGround also advises our
strive to inform our investors by
clients with aspects such as accounting,
interviewing trusted parties related to
tax returns, dividend admin, secretarial
the property process as a whole.
services and expenses management.
Recently, we had the pleasure of
For those unfamiliar with the process,
speaking to Conor Kilcoyne from
when purchasing a buy-to-let property,
GetGround, a company we’ve partnered
you have two options at your disposal,
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the most common being registering the property in your personal name. Alternatively, you can set up a limited company to allow you to gain tax efficiency, limit any personal liability, buy and sell property more easily, and gain inheritance planning benefits. By setting up a limited company and extracting the income efficiently, and selling the property through a share transfer, it is possible to vastly increase your ROI. So, this is definitely one avenue we’d encourage you to explore if you haven’t already.
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Brush Up
ON YOUR ALLOWABLE EXPENSES
Similar to submitting a tax return for
towards your expenses. This includes
any personal or business income
the cost of travelling between
unrelated to your property investments,
properties, the cost of making phone
there are a number of allowable
calls to tenants, money spent
expenses that can help reduce the
advertising the property and even legal
amount of tax you owe with your
fees. It may seem like a hassle to keep
property portfolio too.
track of such expenditure, but if you’re looking to invest in property over the
As a landlord, you may be unaware that
longer term, even smaller amounts can
everyday costs associated with
really begin to add up.
managing your property may also count
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Alongside consulting our partners over
struggled to find tenants during the
at GetGround, we’d definitely suggest
pandemic, then you may be able to
seeking advice from an accountant
claim for void periods on your self-
familiar with the property process to
assessment for aspects such as the cost
ensure you’re fully claiming all
council tax or heating.
allowable expenditures. Again, these kinds of loopholes are For example, did you also know it’s
easy to miss, and with the end of the
possible to claim for void periods
tax year now upon us, it’s essential you
during the pandemic too? The last
know what you can claim for in relation
couple of years have been a challenging
to your property portfolio.
time across the board, and if you
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CONSIDER HOLIDAY LETS
We mentioned in a recent article on our website how the short term let market is booming, especially in a city such as Liverpool, which has no restriction on the number of days landlords can let their apartments for as short term holiday lets. Quite simply, holiday lets help you maximise your returns and capitalise on a strong tourism market. Despite the name, holiday lets also appeal to
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professionals and students who are not looking to enter into a long term tenancy. Although the number of days a property can be let out for a holiday let will vary depending on where the property is based, it’s well worth looking into as the income could far exceed regular rental income with the right strategy. Tax wise, running a property as a holiday let can allow you to offset the cost of your mortgage interest on your tax bill. In contrast, those running the property as a standard rental can only claim up to 20% of their mortgage interest.
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In addition, if HMRC considers your holiday let as a business, you may also benefit from reduced Capital Gains Tax of just 10%, compared with 28% for regular property sales. Profits from holiday lets can also be put into pension pots where tax relief can then be claimed. With income from regular buy-to-lets, the same benefits do not apply. In summary: It’s always worth keeping up with the latest tax or savings loopholes for landlords, especially since advice or measures may change on a regular basis. Often, just a few simple steps can have a monumental impact on both your short term and long term gains.
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OFTEN IMITATED, NEVER EQUALLED.
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Thirlmere Deacon London info@thirlmeredeacon.com + 44 (0) 2039507939 Lansdowne House, Berkeley Square, Mayfair, London, W1J 6ER
Thirlmere Deacon Dubai dubai@thirlmeredeacon.com +971 (0) 4 818 7277 Floor 30, Oberoi Business Centre, Business Bay, Dubai, United Arab Emirates