Central Point, a brand-new luxury development that is set to capture the city’s increased tourism in 2023. The luxury residential apartment development boasts 4 blocks in the heart of Liverpool city centre; Encore, Central Suites, Central Point at Bastion and Bastion Point. The 4 blocks have a total of 240 units ranging from studios to 1-bed and 2 beds apartments, all offering a high level of luxury comparable to that of a premium hotel in the city’s centre.
Construction Update For Central Point
The developers of Central Point, the award–winning Integritas Property Group (IPG), are local to the Liverpool area and have a wealth of experience developing properties across the Northwest. IPG recently completed the Wishing Well development in the centre of Liverpool, refurbishing 41 units after taking over from a housing association that did not have the capabilities to bring the building up to fire and construction standards, IPG delivered the project ahead of the build schedule and under budget.
Central Point is starting to take shape in the centre of the city amongst the already stellar buildings in its surrounding area. It is expected that the steel framing will be in place in the coming months for phase 1, which is due for completion later this year (Q4 2023) followed by phases 2,3 and 4 being completed simultaneously soon after.
Click here to see the latest construction update video.
Liverpool Is An Investment Hotspot
Liverpool has a predicted market growth of 14.8% over the next 4 years, therefore an investment in Central Point has the potential to offer investors a high ROI in a short period. The city is growing in popularity and being the host of Eurovision this year, Liverpool is going to see an influx of tourism due to the city’s increased visibility around the world. The exponential growth forecast for the city can be further enhanced in the coming years, with the waterfront regeneration project and the development of Everton’s new £500m stadium. As a result of Liverpool’s recent stadium development, there is a new capability for larger events such as concerts and sports events to be held in the city, which will result in more visitors and increased demand for residential lets and short-term lets, in which Central Point caters for both.
With the city having two premier league football clubs, Everton FC and Liverpool FC, there is usually always a game happening in the city each weekend within the football season, which drives prices of accommodation in the city up, this is greatly beneficial to potential investors, as they can benefit from the booming short-term let market. Central Point being in the centre of Liverpool, enables easy access to both the football club’s stadiums and once Everton’s new waterfront stadium is complete it will only be a short walk away from the 4 blocks of the Central Point development.
The Short-Term Let Market In Liverpool
Liverpool has seen an increase of 200% in short-term lets in the past 3 years and currently has an average occupancy rate of 80%, which has resulted in the demand amongst investors to acquire properties allowing for short-term lets to massively increase. London’s rental yields currently deliver around a 3% return whereas Liverpool city centre postcodes have seen yields as high as 10% and Liverpool offers a significantly lower entry price investment than the Capital. Unlike London’s short-term lets, there is no cap on how long landlords can rent out their properties for short-term stays meaning Liverpool is a hotspot for short-term lets and investors will benefit from adding a Liverpool property to their portfolio. As previously mentioned all 4 blocks of Central Point permits short-term lets, an investment in this block would offer investors a low-cost entry point and high yield return, rents are expected to yield 7.5%, and short-term lettings yield upwards of 10% p/a.
Why Invest In Central Point?
Central Point currently has an incentive offering a limited number of fully furnished studio units, with the furniture package worth over £5k and including a Samsung 4k TV, a Bose sound bar, a coffee machine and many other amenities. For investors looking at 2-bed apartments, there is an incentive to earn interest on their initial deposit annually until the development is complete, meaning investors don’t have to wait until completion to earn from their investment. Central Point also offers a 3-year rental assurance guarantee where investors are guaranteed to receive rental income from their Central Point investment.
Liverpool’s property prices continue to soar year on year, making Liverpool a future-proof investment, and with the city’s growth showing no sign of stagnating an investment in Central Point is a great opportunity for investors to have a stake in a location where they will see great returns. This year is the best year to invest in Liverpool while prices in the city are still comparatively low in relation to other popular UK investment locations such as London, and Central Point provides investors with a perfect central location where they can capitalise on the growth of Liverpool.
If you are interested in investing in a Central Point unit, get in contact by sending an email to contact@advantageinvestment.co.uk to speak to one of our experienced agents.
