Tenure
Knowing the tenure of the property is important because it affects your rights to use the property and the costs of ownership.
Freehold means you’ll own the property and the land it's built on. You'll usually be responsible for the maintenance of the property and have more freedom to alter it.
For flats and maisonettes, the freehold is sometimes shared with other properties in the same building. This is known as a share of freehold.
Leasehold means you'll have the right to live in the home for a set amount of years (specified in the lease). The landlord (the freeholder) owns the land, and if the lease runs out, ownership of the property will go back to them. Lease lengths that are less than 80 years tend to be more complicated and can cause issues with mortgage lenders.
You can extend a lease but this can be expensive. If you'd like to make changes to the property, you'll likely need the landlord’s permission. You're also likely to have to pay an annual amount for ground rent and services charges which can be subject to change. It is good practice to check additional leasehold costs that will apply to the property and factor this into your budget considerations.
Shared ownership is a form of leasehold in which you buy a percentage of the property and pay rent on the share you do not own. You may be able to buy the remaining share at an extra cost. When you wish to sell the property, you may need permission to do so.
Commonhold is a type of freehold ownership for a property that's within a development. A commonhold or residents’ association owns and manages the common parts of the property (like stairs and hallways). You'll need to join the commonhold association and contribute towards maintaining the development. It is good practice to check additional costs that will apply to the property and factor this into your budget considerations.
- Flats
- Driveway parking
Over 70% Sold
Premier Apartments Overlooking the World Heritage Water Front
Higher Returns than Neighbouring Developments
24 Hour 5* Concierge
This apartment is strategically located within Liverpool's unesco World Heritage Waterfront, comprising the iconic landmarks affectionately referred to as the 'Three Graces.' This encompasses the Cunard Building, the Liver Building and the Port of Liverpool Building - all world famous buildings.
The (Liverpool) Echo newspaper just revealed that Strand Plaza as one of the top 4 incredible homes 'you could buy if you win big on the Grand National 2016.
What this development delivers is far more than any other residential investment in the area in terms of views, price and yields. Comparable developments including Beetham Plaza and the Mann Building are enjoying excellent rental rates and occupancy with a very high demand for both sales and lettings.
Strand Plaza could not be located in a more exciting city than Liverpool. Liverpool is fast becoming the uk's leading centre for investment. There is currently 1.7bn worth of construction underway in the city. The local visitor economy is also thriving with 57 million visitors in 2012 ranking no. 3 on TripAdvisor with only London and Edinburgh being higher.
Liverpool is strongly connected to global markets with more and more multinationals establishing a presence in the city, thereby, increasing the demand for local property and services, particularly in the city centre. Furthermore, there is a shortage of residential properties in the city centre for 6 consecutive years.
Indeed, over the past 6 years consecutively, there has been a shortage of residential properties in Liverpool city centre. This provides further evidence of the necessity for luxury modern apartments which people expect when looking for a new home or flat to rent.
Each apartment will be furnished and finished to a luxury standard. Owner residents and tenants will have full access to the concierge services. The intention of this is to create one of the best living experiences in Liverpool whilst you are in your apartment and when you venture out to explore this exciting city. We feel that this high-end focus will ensure high yields and high rental demand.
The Strand Plaza is situated at the doorstep of the commercial district of Liverpool, which has a high concentration of young professionals.
We know from our own experience that the views are best appreciated in person, so contact our office now to book a viewing. This way you will know exactly what we are talking about!
Who are we?
One Investments offers you integrity and professionalism from the beginning of the buying process right until the point of completion, providing support, guidance and a wealth of expertise in not just property, but in sales, media, recruitment and the financial services industries. Collectively, the team boasts 70 years worth of blue chip experience.
We have a number of exciting opportunities on offer across the UK whether this be residential or commercial. Please do not hesitate in contacting us to find out more information; we will almost certainly have something on offer for you either now or in the near future.
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