0 sqft  Commercial  For Sale

Southlands, Roundhay

Reception Rooms: 1 | Bedrooms: 1 | Bathrooms: 1
Price £215,000

Commercial
Southlands Premire Later Living Apartments, Roundhay, Leeds, Yorkshire, LS8 2JU
£215,000
Speak to an experienced agent
0113 239 0012
horsforth@hardistyandco.com Email

Description

INVESTMENT PROPERTY
SOUTHLANDS, ROUNDHAY, LEEDS
HIGH END ASSISTED LIVING APARTMENT INVESTMENT OPPORTUNITY.
PURCHASE THIS LUXURY APARTMENT AND LET IT BACK TO THE OWNER/CARE PROVIDER, WESTWARD CARE LTD for up to £895.83 pcm, an annual income of £10,750 representing a 5% return! See full details!
The nature of the lease back means the long leaseholder will have no maintenance costs, no service charges, no property management fees an uninterrupted rental flow for the term of the lease with no void periods and therefore none of the closely associated costs normally experienced by investors of residential property on relatively short term tenancies, such as void period utility costs, council tax, redecorating, cleaning, repair and reletting fees. If you are interested in discussing this investment opportunity further please contact David Tomlin BSc by telephone: or email: David@hardistycommercial.com

  • Invest opportunity!
  • Purchase this Apt and lease it back to Wesward Care
  • A return of up to £895.83 pcm
  • An annual income of £10,750 representing a 5% return!
  • Guaranteed buy back option when it's time to sell!
  • Beautiful grounds and Parking facilities.
  • Large living/dining kitchen
  • 2nd floor. Double bed & bathroom.
  • Luxury, high spec finish
  • Peaceful, tranquil setting

The Proposal

Westward Care Limited, an outstanding Leeds based health and social care provider, are offering sale and leaseback investment opportunities in either individual or bundles of Later/Assisted living apartments within their premier Roundhay development.
Westward Care Limited are looking to sell long leasehold interests (125 years) and in turn take back an occupational lease of between 5 and 15 years and to offer a rental return net of building management charges, property repair costs, service charge liability and any capital replacement contribution.
The rental will also be subject to an annual guaranteed rate of growth. At the end of the occupational lease investors will be able to either renegotiate new occupational lease terms; sell the balance of their long leasehold interest on the open market (subject to planning and operational conditions) or alternatively exercise a contractual obligation on Westward Care Limited to buy back the property at a figure equivalent to the original purchase price.
With the exception of the costs of purchase, reletting and ultimate sale, the return will otherwise be net of costs generally associated with residential property investment.

For The Duration Of The Lease To Westward Care Ltd

BENEFITS TO AN INVESTOR WILL INCLUDE:

A GATEWAY INTO AN ETHICAL INVESTMENT MARKET SECTOR.

A HIGH CALIBRE COVENANT FROM A WELL-REGARDED LOCAL HEALTH AND SOCIAL CARE PROVIDER.

AN INTEREST WITHIN A SCHEME WITH CQC PROVISION RATING OVERALL GOOD.

A BUY BACK GUARANTEE.

CONTINUOUS INCOME STREAM WITH NO VOID RENTAL PERIODS NOR VOID PERIOD COSTS USUALLY ENCOUNTERED SUCH AS COUNCIL TAX OR UTILITY CHARGES.

A QUALITY AND WELL-MAINTAINED PROPERTY HELD ON AN EFFECTIVELY FULL REPAIRING AND INSURING BASIS.

NO PROPERTY MANAGEMENT CHARGES.

NO SERVICE CHARGE CONTRIBUTION.
NO CONTRIBUTION TO CAPITAL REPLACEMENT COSTS (ANNUAL SINKING FUND).

INTERESTED PARTIES SHOULD SEEK INDEPENDENT ADVICE WITH RESPECT TO THIS OPPORTUNITY FROM A SUITABLY QUALIFIED PROFESSIONAL.

EACH PARTY TO BE RESPONSIBLE FOR THEIR OWN LEGAL COSTS.

SUBJECT TO CONTRACT AND VAT IF APPLICABLE.

Please note that apartments within the development are also directly available to owner occupiers, who also benefit from a similar "buy back" arrangement.

Westward Care Ltd

Westward Care Limited (Company Number: 2969357) are one of Leeds’ most respected health and social care providers with a proven track record in providing award-winning care and support to older people.
Westward Care are currently based in three convenient locations across Leeds - Headingley, Roundhay and Beeston with Care Quality Commission ratings of Outstanding and Good.

Westward Care Limited is a long established company, built on conservative principles of prudent management and low financial gearing. Whilst a full pack of information outlining the strength of the Company’s covenant will be made available to interested parties, we would point out at this stage that Experian have allocated them an overall credit score of 100 and state that the company offers very low risk.

Within the sector the name Westward Care is synonymous with ‘Quality’. This is evidenced throughout their entire operation, whether this be the CQC rating of their establishments; their 5 star kitchen hygiene standards; their award winning gardens; the design and build quality of their developments or, most importantly, the quality of their customer feedback. For additional information please visit their web site at www.westwardcare.co.uk

Further Information

If you are interested in discussing this investment opportunity further please contact David Tomlin BSc by telephone: or email: David@hardistycommercial.com

Market Sector Commentary, Reports And Analysis

JLL Retirement Living Market Research (2020)
By 2025, 20% of the UK population will be over million people) with The over 65s own a combined £800 billion of housing equity.
Many retirees want to live in retirement housing, but there is a chronic under-supply of high quality Housing with Care in the right locations. Recent mid to high end schemes being developed across the UK are being fully sold off-plan, with long waiting lists for existing schemes.

In the UK the vast majority of over 65s currently live in the mainstream housing market. Only 0.6% of retirees live in Housing with Care, which is ten times less than in more mature retirement housing markets such as the USA and Australia, where over 5% of over 65s live in Housing with Care.

Almost 80% of the over 65 population would be classified as being within mid and high end affluence by 2025, whilst 75% of the current Housing with Care stock is classified as affordable, highlighting the supply-demand imbalance in the current market.
It is estimated that there is a potential requirement for an additional 725,000 Housing with Care units by 2025 which would equate to nearly 50% of all new homes built at the current rate.

The Care Act 2014 places housing at the heart of the definition of wellbeing and forces local authorities to be proactive in shaping and developing the market, particularly in alternatives to institutional care such as Housing with Care. It forces engagement with the market to ensure there is sufficient variety and supply of accommodation to match the local population and will ease the passage of planning for schemes.

Knight Frank, The Investment Case for Senior Housing (2020)

Analysis of the supply pipeline suggests that nearly 11,500 units (Senior Living) were due to be delivered this year (2020), increasing year on year to a total of just below 70,000 by 2023. However, a hiatus in construction activity with restrictions on access to development sites with Covid-19 restrictions, will apply further pressure on what is already widely regarded to be an undersupplied market.

Location

Southlands is conveniently situated in Roundhay, Leeds close to the famous Roundhay Park, the vibrant and cosmopolitan area of Street Lane with its delightful local shops, cafes and infamous restaurants. The apartments are convenient for bus links to Leeds City Centre and the Leeds inner and outer Ring Roads which give easy access to the A1 and M1, are close at hand making access to Southlands easy and straight forward for relatives and visitors.

How To Find The Property

SAT NAV - Post Code - LS8 2JU.

Introduction To Southlands Retirement Apartments

This development allows you to own your own property, live independently,in a stunning setting with the option, over time, to take advantage of “pick and mix” gold standard accredited care and support packages at a time when you need them. The properties have the added advantage of a superb social element where many activities and social events are organised for those still young at heart and mind. The original building of Southlands dates back to the early 1900’s and has been sympathetically extended and modernised to a high specification incorporating two beautiful additions in modern stone. The building consists of The Coach House, Main House and Principal Building. The apartments are set over four floors which are serviced by lifts and each apartment has its own emergency call system with twenty-four-hour emergency assistance on hand for all properties, irrespective of care package, giving owners freedom with peace of mind.
ABOUT SOUTHLANDS
Southlands is a unique collection of 28 luxury retirement apartments. These stunning self-contained dwellings allow older people to lead an independent life and run their own home without the worries of maintaining it. They also have the reassurance of on-site care and support being available 24/7 if, or when they need it. Each apartment has its own individual character, with features such as large windows and stunning views. Some even boast of balconies or patios that open out onto the gardens.

The development is set in the leafy suburb of Roundhay and forms an exciting modern housing and care option for later life within walking distance of Roundhay Park.

Whilst residents are buying into Independent ‘Later Living’ they are able to take up a whole range of additional ‘hotel style’ and care services with a 24-hour on-site care and support package available if required. Effectively they are able pick and vary the support package they require.

The scheme includes all the comforts you would expect from luxury apartments, with the choice of cleaning and laundry packages together with peace of mind of living in a safe and secure environment within attractively landscaped grounds.

There is also a guest suite available for visitors, and exclusive communal facilities for apartment residents, which include: a top quality restaurant, with seasonal menu choices, providing the option of breakfast, lunch, an evening meal and/or a light tea/supper, with a tray service to your apartment if preferred; a well-stocked residents bar; access to a hair salon, a beauticians, plus shared communal car parking.

As well as having a 24-hour emergency call system with on-site response and attendance, there are also additional support and care packages available. The care and support is directly provided by Westward Care, one of Leeds’s most respected health and social care provider, with a proven track record in delivering award winning care and support to older people. With highly trained and qualified staff and a focus on quality of life and quality of care the packages can be tailored to suit individual requirements and adapted accordingly when needed.

The Concept Of Southlands

The beauty of this development is the fact that as you develop into later life there may never be any need for you to move anywhere, Southlands is the place where care and support comes to you when you need it the most. You can enjoy the privacy of your own home without every day worries of running a house or you may never have to sell up and move into a care home. Westward Care pride themselves on an enhanced care status by Leeds City Council, the Care Homes Hallmark Award under the Gold Standards Framework and highly trained staff. Westward Care offer a unique buy back option on all apartments which can ensure that your decision to purchase is protected. (please enquire for further details)

Accommodation

Ground Floor

With reception and concierge, lift and stairs up to the ...

Second Floor Landing

Private access door into...

Entrance Lobby

With doors to ...

Living/dining Kitchen

6.30m x 4.95m (20'8" x 16'3")
A lovely spacious, light and airy room with ample dining and lounge space in which to relax. Open to the kitchen which has a comprehensively range of modern, stylish units and work surfaces/up-stands. Inset circular stainless-steel sink and side drainer with mixer tap. There is an integrated electric oven, two ring induction hob and extractor hood. Tall integrated larder style fridge freezer. Inset ceiling spotlights. Modern floor covering.

Bedroom One

2.95m x 4.17m (9'8" x 13'8")
A lovely large bedroom. Door into ...

En-suite Bathroom

1.68m x 2.34m (5'6" x 7'8")
A modern and stylish wet room for convenience with a contemporary finish and modern ceramic tiling. Modern shower, pedestal wash-hand basin and low flush W.C. Modern heated towel rail radiator. As per the headline description there are two bathrooms available for residents to use should assisted bathing be preferred or required.

Outside

The apartments sit in delightful, award winning grounds with lawns, flowerbeds, pathways, water feature, trees and shrubs. The property has won Leeds in Bloom for the last three years and prides itself in these beautiful surroundings. There are parking facilities available too.

Leasehold Info.,& Sinking Fund (major Repair Fund)

LEASEHOLD DETAILS FOR GENERAL SALE PROPERTIES; The Leasehold term commenced on the 1 January 2019 for a period of 125 years. There is an annual ground rent of £150 per annum which is invoiced in advance on the 1 January each year. The properties have a building service charge of £57 per week. Further, there is an additional services charge covering utilities and other services including gas, electric, water, Council Tax, telephone rental/calls and wi-fi along with access to communal spaces and a reception concierge service with prices starting at £138 per week. In addition to care and support packages, optional services such as housekeeping, laundry, minor maintenance and dining packages are available to all apartment owners at a separate charge. (Please enquire for further information). Anyone can purchase an apartment but the person who lives in the apartment must be over the age of 55 years. There is a sinking fund (major repair fund) and potential purchasers should contact us for full information. All apartments have a pre-emption right attached to them which provides Westward Care with the first option to buy back the apartment once it is no longer needed (please enquire for further information). All other packages are charged at different rates according to the size of the apartment, number of residents and chosen services at that time. Standard or tailored packages can be quoted upon request.

Brochure Details

Hardisty and Co prepared these details, including photography, in accordance with our estate agency agreement.

Additional Services - Disclosure Of Financial Inte

Unless instructed otherwise, the company would normally offer all clients, applicants and prospective purchasers its full range of estate agency services, including the valuation of their present property and sales service. We also intend to offer clients, applicants and prospective purchasers' mortgage and financial services advice through our association with our in-house mortgage and protection specialists HARDISTY FINANCIAL. We will also offer to clients and prospective purchasers the services of our panel solicitors, removers and contactors. We would normally be entitled to commission or fees for such services and disclosure of all our financial interests can be found on our website at https://hardistyandco.com/financial-interests/

Mortgage Services

We are whole of market and would love to help with your purchase or remortgage. Call Hardisty Financial to book your appointment today option 3.

Floor Plan

Energy Performance Certificates

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