Smithfield Square is a stunning new development of 105 one and two bedroom modern apartment and sustainable apartments in heart of Birmingham city centre. Developed by one of the regions leading developers, Smithfield Square also benefits from an investor friendly payment plan, which offers Pure Investor clients access to one of the UK's leading investment locations.
The Smithfield Square development is perfectly located within easy walking distance of the main shops and commercial centre of Birmingham. It is also at the heart of the new Smithfield master development, which is set to strengthen Birminghams national and international standing through the development of 5,000 new homes, 10,000 new jobs and billions of pounds worth of investment infrastructure.
Why Buy An Apartment In Birmingham City Centre?
Birmingham is not only the UK’s largest city outside London, but also one of the country’s biggest financial centres. The relocation of firms such as Deutsche Bank and HSBC will increase the number of affluent professionals making their home here. The diversity of the city’s economy is supported by its reputation as a hub for creative industries and it is among the UK’s fastest growing centres for digital media ventures.
There is a wealth of opportunities for companies seeking to expand or invest in Birmingham. The city has exceptional connections to local, national and international destinations. It lies at the heart of the UK’s road network and boasts an international airport serving 9 million passengers per year to 140 direct and scheduled charter routes. The proposed HS2 rail link will potentially cut travel time between Birmingham and London to under 50 minutes.
Smithfield Square - Payment Plans
The Quarterly Purchase Plan
An innovative ,'fully asset backed' savings plan that presents an appealing alternative to the traditional savings plan.
Pay 8 payments of 12.5% across a scheduled two year period - at the 24th month you can either retain the property and receive rental income for life, or look to sell the property in the open market.
Summary - 1 bed apartment
Purchase Price - £164,995
Legal Fees - £850.00
Total Amount Due - £165,845.00
Reservation and Exchange Stage
Pay reservation deposit of 3% (minimum of £3,000) - £4,949.85
Legal fees - £850.00
Reservation/exchange stage total due - £5,799.85
Payment Stages
1 Stage Q1 - £20,005.64
2 Stage Q2 - £20,005.64
3 Stage Q3 - £20,005.64
4 Stage Q4 - £20,005.64
5 Stage Q5 - £20,005.64
6 Stage Q6 - £20,005.64
7 Stage Q7 - £20,005.64
8 Stage Q8 - £20,005.64
Income
Estimated Gross Rental Income - Per month £750.00 / Per Annum £9,000.00
Estimated Gross Yield based on above - 5.45%
Expenses
Service charge (estimated) - £1,000
Ground rent (estimated) - £300.00
Tenant management fees @ 12.5% plus VAT - £1,350.00
Total expenses - Per month £220.83 / Per Annum £2,650.00
Income Net Of Expenses - Per Month £529.17 / Per Annum £6,350.00
Monthly and Mortgage Payment Plan
Pay an initial 3% towards your deposit (minimum of £3,000) plus £850.00 legal fees. Your 30% deposit is then divided by the number of build term months and paid on a monthly basis. On completion, the balance payment can be made by way of cash or mortgage (subject to status, fees will be applicable).
This option is perfectly suited to clients without large lumps sums accessible or those who'd prefer to keep existing investments where they are. Payments are made across an average build term of 24 months. Monthly and Mortgage payment plans only available on selected plots.
Contact us today for your free online information pack on the new Smithfield Square development.