The Winerack, Ipswich
The Winerack is an iconic building in a unique and prominent marina setting on the Ipswich waterfront. It has become an exclusive development of beautifully crafted apartments, with prices ranging from £115,445 to £176,870.
There were 31 of our investors who reserved at The Winerack, who secured high calibre, professional tenants shortly after completion, and having exceeded original rental predictions by Martin & Co, investors are achieving rental yields of 6% - 7.5%. Plus, having secured these properties at significantly discounted prices, investors also achieved double-digit capital growth during the build programme.
We were recently delighted to hear from our sister company, Insight Private Finance that one of these investors had been in touch with them in order to arrange for their property to be re-mortgaged as it had come up to the end of the 2-year term, and they wanted to look at how they could take money out of the property to reinvest, whilst also securing a better rate on their mortgage.
Naturally, they were delighted when they heard the good news that the property that they purchased for £144,695 had received a valuation of £220,000, that’s a massive 52% of growth, and a return on clients cash invested of a staggering 208% (on a deposit of 25%) in just two years.
This demonstrates the power of an off-plan purchase where a discount has been negotiated as you are effectively buying growth from the outset. By getting in early and purchasing a discounted property through PIP, clients are able to enjoy potential capital growth whilst they wait for their property to complete!
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