Here we explore a real property investment and take a closer look at the Wolverhampton case study, for those who want to understand the process and outcome better.
Investors new to Thirlmere Deacon might wonder how the entire process of investing in property with our guidance works.
Taking a consultative approach enables us to carefully align an investor’s ambitions with an opportunity set to achieve those goals.
What better way to demonstrate how the process works than to display the stages of a real case study from conception to completion.
The Development: Churchside
In December 2019 we began talking to prospective investors about Wolverhampton and an exciting new project there that was being delivered by a reputable developer.
Diligent in our approach, Thirlmere Deacon will only put their name against those developments for which we have analysed the area and vetted the plans for construction and the projections for delivery. Investors will only be aware of opportunities we truly believe in – Churchside Wolverhampton ticked all the boxes.
The building includes a mix of 126 one-bedroom apartments and 18 two-bedroom apartments arranged over six storeys. Each apartment is immaculately finished and designed to include cutting-edge economical heating and water heating systems to ensure the properties are highly energy-efficient.
In terms of location, Churchside is an ideal base for life in the city, close to the local amenities and just a short walk from the city centre. In the immediate vicinity, there is a local park and residents are just moments from the picturesque grounds of the Grade II listed Church of St John in the Square.
With the developer’s strong track record, attainable prices, projected yields it’s of little surprise that the entire development sold out within weeks of launching.
The Location: Wolverhampton
A tertiary city that has a lot to offer, Wolverhampton might be overlooked by those investors who have their blinkers solely focused on big city names.
Wolverhampton is undergoing significant regeneration, the local government are committed to improving the city with multiple plans underway and further projects in the pipeline, both commercial and residential.
The local economy is set to see a boost with expansion plans such as those at the i54 business park which is predicted to generate around 1,700 new jobs and another 128-acre site, a former munitions factory just 1 mile from i54 has received permission for redevelopment that could create a further 2,800 new jobs. Being so centrally located geographically it is ideally positioned in the heart of the West Midlands for connections to the rest of the UK, making it an ideal base for logistics companies.
Whilst the city’s economy is thriving and it is an established business hub, by train Wolverhampton is just 15 minutes from Birmingham, making it ideal for commuters.
The Churchside development, in particular, is well located being close to the university adding potential interest from students seeking private accommodation, as well as young professionals seeking well-connected, yet affordable homes to rent.
Rental yields for properties in Wolverhampton are between 5-7% depending on where and what you buy. As for property values in Wolverhampton, new analysis from Compare the Market forecasting that prices across the West Midlands could rise by as much as 29% by 2031.
The Developer: Empire Property Concepts
Empire Property Concepts developed Churchside Wolverhampton, a company whose reputation for selecting buildings ripe for redevelopment in locations primed for capital growth is becoming quite impressive.
In an interview with Andrew Ward, the Founder and Managing Director of Solomon New Homes and Paul Rothwell, Managing Director of Empire Property Concepts, nearer the beginning of construction at Churchside, Andrew praised Empire’s ventures of repurposing previously redundant spaces and turning them into modern residential apartments. He said “the locations that Paul chooses to develop, for me, that’s probably the most exciting aspect about the opportunity. Buying into areas that are maybe 20%-40% behind what the true value should be, and getting in at this early stage, that’s the beauty. The rental yield is fantastic, but the true value, I believe, is what the properties are going to be worth in three, five, ten years’ time.”
For Thirlmere Deacon, Empire Property Concepts stand out as a visionary developer, one who transforms buildings in locations that are yet to realise their true potential. They deliver exceptional results in a timely manner, allowing investors to secure profitable luxury rental property.
The Result: Update for 2022
Now, 2 years since the first investors secured units in Churchside we can reflect on the huge success that this project has experienced.
The values of properties in Churchside have increased considerably, with those who purchased off-plan realising around a 35% uplift in prices. A staggering ROI in just a few short years.
Churchside in Wolverhampton perfectly demonstrates that UK property offers an incredible opportunity for investors, it’s simply a case of knowing where to look, who to entrust and what to buy.
To learn more about property investment, get in touch.