James Baker, director of the award-winning Preston Baker property consultancy, believes that a combination of factors means that York is a prime target for property investors from across the UK.
Mr Baker commented: “There’s no doubt that York’s residential property market is currently hugely attractive to investors. It’s a beautiful city, of course, with more tourists visiting York than any other city in the UK, apart from London. Meanwhile the wonderful Yorkshire Dales and the stunning coastline are less than an hour’s drive away.
“It is also very accessible, with London less than two hours away by train and Yorkshire’s superb motorway network close by. Throw in some of the UK’s best state and private schools, top universities, a thriving business community, a brilliant arts scene and first-class health provision, and you have the perfect place both in which to live and to invest.”
A classic example of the York investment boom is the popular St John’s Mews development, close to the city centre and the Bar Walls. Caedmon Homes have developed 29 high-quality apartments here on the site of the former Groves House Care Home. The one, two and three-bedroom apartments are available for immediate occupation. 21 have already been sold, with seven deals completed in the last couple of months.
Mr Baker commented: “The available one, two and three-bedroom apartments range in price from £250,000 to £450,000, with the most prestigious three-bed apartment boasting the most fabulous views of York Minster and the beautiful city of York. Predicted net annual profits, based on 70 per cent occupancy, range from £19,000 for the £250,000 apartment to £35,000 for the £450,000 penthouse suite.”
Chris McLuskie, a media consultant, commented: “I bought an apartment at St John’s Mews as an investment via holiday lettings and it certainly hasn’t disappointed. The quality of the finishes in the apartment, as well as the central location, has had the bookings full up since I took it on. The return on investment already has been brilliant.”
You can find out more by visiting Caedmon Homes.