New build conversion of a former office building into 65 residential apartments

250 year lease

Mix of studios, 1 and 2 bedroom units

Completion date July 2018

Light & spacious room designs

Prices start from £69,000

Designed for profitable professional market

A prestigious and attractive building

Excellent yields available

Prime Town Centre location

Red Rooves Limited are pleased to offer to the market this new build conversion of a former office building into top quality residential apartments, located in Halifax.

Halifax House is an impressive stone-built property set on the corner of Blackwall and Ferguson Street close to the centre of Halifax. Previously occupied by an insurance business, it is now the subject of a £3.5 million conversion scheme. The project will see the creation of 65 new, high-specification apartments over the four storeys of the building - a mix of studio flats and 1 and 2-bedroom apartments. The work is expected to be completed by July 2018.
The design calls for a high standard of finish to cater for the growing professional and key-worker markets in the town. Locally, rental demand is high but there is a pronounced shortage of good quality accommodation for more discerning, higher-paying tenants. Halifax House has been conceived to meet that rising demand. Built to the most exacting modern standards, its apartments will feature en-suite shower and bathroom facilities, separate bedrooms and living areas, together with well equipped kitchens.
For tenants, the property will provide a comfortable and convenient central location, close to all the town's amenities. For investors, it affords an opportunity to take advantage of a fast-improving market together with excellent prospects for healthy yields and sustainable capital growth. Average unit sizes 270 - 290 sq ft for a studio, 390 - 460 sq ft for a one bedroom and 689 sq ft on the only two bedroom apartment.

The growth of the town's economy is likely to have a positive effect on local businesses and should spur an influx of new workers. LEP forecasts suggest that Halifax will see an increase in the number of professionals looking for accommodation as they seek to take advantage of new jobs and a better place to live.
For all local landlords, this will be good news, but it will be especially so for those with more modern, upmarket properties to let. The supply of good quality accommodation is very limited within the town, so Halifax House has been designed to appeal to more demanding - and more affluent - tenants.

According to figures published by HM Land Registry in January 2018, the average house in Calderdale cost £139,474. The UK average exceeds that by more than £100,000 so, for investors, Halifax and its immediate surroundings offer a chance to secure a highly marketable property at an unusually low price. Given the strong and ever-rising demand for good rental property in the town, this translates into the very real prospect of exceptionally strong yields.
However, prices will not remain subdued for long. Investors will inevitably recognise the likely implications of the ongoing town centre regeneration work, and the accompanying improvements to local infrastructure. This coupled with the massive investment taking place at the regional level, and the advent of HS2, all suggests that the local property market is set for sustained growth and profi tability.
The market is already showing signs of above-average growth. The Land Registry fi gures for the 12 months to January 2018 show an 8.3% increase in average values across Calderdale, which compares against a fi gure of just 4.6% for England as a whole. Over the same period, average values in Central London fell by 7.9%.
Market sentiment in Halifax is currently very positive, driven in part by investors attracted by the prospect of high yields. A continuing under-supply of housing also bodes well for rentals and capital values. According to Calderdale Council, this shortfall is severe; just 350 homes were created in 2015/16 and, since 2008, demand has outstripped supply by a factor of more than 2:1.
Much of this demand stems from incomers under 30, who are attracted by steadily improving job prospects and the town's vibrant culture. Another key growth market comprises starter families, not yet on the property ladder, who are seeking a comfortable lifestyle within reach of work and Halifax's excellent schools.
Of course, demand, rentals and price growth will not be uniform across the area; certain neighbourhoods will fare better than others. However, properties such as Halifax House, which is set just a few hundred metres from the centre of a fast-revitalising town centre, are more likely than most to appreciate quickly.

Halifax House is located on the corner of Blackwall and Ferguson Street, just 500 metres from the centre of Halifax. Banks, shops and similar amenities are all just a short walk away. The nearest restaurant requires a walk of just 40 metres. The nearest junction of the A58 lies just 350m from the front door of Halifax House. This is part of a highway network that connects to nearby Leeds, Bradford and Huddersfield, as well as west to Manchester, Bolton, Rochdale and other major centres of employment. There are several bus stops within a 200-metre radius of Halifax House, and these provide connections to the town centre, local destinations and outlying conurbations such as Rochdale and Todmorden. Halifax Railway Station is located a little over 600 metres from Halifax House. It lies on the Caldervale Line and runs services to key destinations such as Bradford, Huddersfield, York, Blackpool and Manchester. Services also operate to London King's Cross via Doncaster. Importantly, the station offers quick connections to Leeds, which will ultimately be served by the HS2 railway line. Thus, future residents will be able to count on speedy connections to London and the Midlands.

Simple purchasing process:
1. £2,500 deposit (non-refundable)
2. 25% on exchange
3. 75% minus the reservation fee on completion
(please note that you should expect simultaneous exchange and completion on this purchase as this development is completing on July 2018.)

Additional information:
* Lease is 250 years
* Ground rent - £200 per annum
* Service charge - £1.20 per sq ft per annum
* New build conversion
* Completion due July 2018
* Residential apartments
* No rental guarantee

Important Notice to Purchasers:
* We endeavour to make our sales fair, accurate and reliable but these are only a general guide and they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or facts. We do not guarantee or test any services, systems or appliances listed in the specification as to their operating or efficiency ability, we therefore strongly advise prospective buyers to commission their own survey or service reports before finalizing their offer to purchase. All measurements that are stated are only intended as guidance only and are not precise, you should therefore verify the dimensions carefully before ordering any built-in furniture, carpets or laminates.
* Intending purchasers please note that you will be asked to produce some identification documentation at a later stage as part of the anti-money laundering regulations, we therefore please ask for your co-operation in this matter so that there will be no delays in agreeing a sale for the property.
* The information issued is in good faith but does not constitute representations of fact or form part of any offer or contract. The matters referred to in this article should be independently verified by prospective buyers. Neither Red Rooves Limited nor any of its employees or agents has any authority to make or give any representation or warranty whatever in relation to this property. Your home is at risk if you do not keep up repayments on a mortgage or other loans secured against it.
* We make no representation or warranty of any kind with regards to the information contained in this article and none of the information should be treated as financial advice. The information is not an invitation to invest and you must rely entirely on your own investigations and due diligence before deciding to invest. Any opinions expressed in this article are not statements of fact.

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Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.