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£75,500 (GBP | AUD | EUR)

Positive Cash Flow £185.42
Instant Equity £24,500.00
Market Value £100,000.00 Monthly Rent £500.00
Purchase Price £75,500.00 Monthly Mortgage £314.58
Discount 24.5% Monthly Profit £185.42

High Rental Demand

Mill Green is ideally placed for local amenities including a 24-hour supermarket, shops at Killingbeck Retail Park and great shopping centres in Crossgates and Seacroft. A massive selection of high street shops can also be found in the city centre as well as tempting designer stores such as Harvey Nichols and Vivienne Westwood in the fashionable Victoria Quarter. An array of trendy cafes, bars and classy restaurants abound in and around the city. Mill Green is to the east of the city and provides commuters with easy access to the M62, A1/M1 and A64 as well as convenient public transport into Leeds. For international travel Leeds/Bradford airport is just a short drive away and offers flights to most European destinations. New housing is seen as a key component of the Swarcliffe PFI scheme. A combination of private and social housing will be instrumental in the regeneration of Swarcliffe. Yorkshire Housing is set to provide 148 new homes as part of the scheme, with 110 of these designed for social housing. Yorkshire Housing's involvement in the development of Swarcliffe will be hugely beneficial in the regeneration. New homes will build new communities, and recreate pride in the estate. As part of the PFI scheme we hope to provide a brighter future for the people of Swarcliffe.
We have spoken to 6 local estate agents who have the knowledge of the development and the immediate market who report as follows:
Type Open Market Value Forced Sales Price Rental 2 bedroom apartment 90k -109k 85k - 90k 450 - 550pcm
Recent sales comparables of the same property type:
 1 bedroom apartment Oaktree Lane - 87k
 2 bedroom apartment Ashcourt - 102k
 2 bedroom apartment Victoria court - 90k Buyer Demand:
 For those buyers keen to purchase, this would be an ideal area, because these apartments are the only ones in this area with this specification at an affordable price. Rental Demand:
 A lower than average proportion of property in this area is owner occupied. This suggests that there is a very healthy rental market.
 A high proportion of property in this area is socially rented.

Simon Mills



Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Total
Annual Rent £6000£6,180£6,365£6,555£6,751£6,953£7,161£7,375£7,596£7,823  
Annual Mortgage Cost £3,775£3,775£3,775£3,775£3,775£3,775£3,775£3,775£3,775£3,775  
Annual Profit £2,225£2,405£2,590£2,780£2,976£3,178£3,386£3,600£3,821£4,048 £31,009
Value Of Property £100,000£103,000£106,090£109,272£112,550£115,926£119,403£122,985£126,674£130,474  
Mortgage Balance £75,500£75,500£75,500£75,500£75,500£75,500£75,500£75,500£75,500£75,500  
Equity £24,500£27,500£30,590£33,772£37,050£40,426£43,903£47,485£51,174£54,974 £54,974
Assumes a 3% annual growth rate of rental income and property value. Total Profit From 10 Years Ownership       £85,983