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Welcome to Spectrum House - a fantastic, high-yielding development, for sale in Bradford. This exciting five-storey development is in the heart of the city, a mere 10-minute walk to the two main train stations and an even shorter walk to all that the city centre offers.
There are only 20 apartments available, offering a mix of one-bedroom and studio apartments. The apartments span 439–539 sqft, all accessible via the development’s elevator.
Prices start as low as £77,946 with rental income up to £635pcm. Spectrum House has great ROI potential and is set to attract high levels of tenant demand. The beautiful development sits close to the University of Bradford and Bradford College. This boosts demand in the area. Investors can expect to generate exceptional yields of up to 7.8%, surpassing the UK’s average of 4.7%! For this reason alone, Spectrum House is perfect for both first-time and experienced buyers.
Residents of Spectrum House need not travel far to reach Bradford City Centre and all its amenities. Centrally located in Bradford’s infamous Little Germany, the development links directly to The Broadway Shopping Centre via a pedestrian route. This makes it no more than a 10-minute walk to the city centre and to either of Bradford’s two train stations or bus station.
Bradford is extremely well-connected. It is a perfect central location for residents to freely travel between Leeds, Manchester, Liverpool, and Sheffield. Bradford Interchange and Bradford Forster Square offer 30-minute train journeys to Leeds and routes taking no longer than 1 hour and 10 minutes towards Manchester.
The brilliant proximity to public transport makes Spectrum House the perfect location for commuters and hybrid workers, thanks to its affordable price. Those who drive also benefit from the development’s easy access to both the A647 and the A658 towards Leeds and Harrogate. Being situated near the heart of the city centre, too, makes Spectrum House an excellent option for short-term lets.
In the City of
Bradford has one of the fastest-growing populations in the UK, seeing a massive 13.8% increase from 2002. 29% of it is comprised of young people below the age of 20, which is in part due to the University of Bradford’s success. This percentage of young residents is ahead of the UK’s average of 21% and is why Bradford is often named the youngest city in Europe.
Due to its youthful population, rental demand is high for students, graduates, and young professionals – particularly for one-bedroom and studio properties. Due to this, a property for sale in Bradford City Centre does not stay on the market for long! Bradford is not just one of the most affordable regions in the Northern Powerhouse but the UK, with average property prices at £190,191 and £104,643 for first-time buyers. Rental demand is so great in Bradford that the city is experiencing a supply-demand imbalance.
Spectrum House will complete in June 2024 and has apartments starting at a fantastic low price of £77,950. Due to its high returns, this development is perfect for first-time and experienced investors. Named the ‘Best City in the UK for Investors’ in 2022, Bradford had the most robust case out of the 34 cities for significant economic growth. Due to this, we expect a swift sell-out. There is an opportunity here that no investor should miss.
Securing a mortgage is a huge financial commitment. Whether you are saving for your first investment or financial planning for your next, it is crucial that you calculate correctly. Use our mortgage calculator to help to determine what your monthly repayments will be. This way you can ensure that the rent earnt covers the repayments on your buy to let property.
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Use this calculator to determine the Stamp Duty Land Tax (SDLT) on your property investment. Stamp Duty is a tax paid by the buyer of a UK residential property. The stamp duty rate ranges from 2% to 12% of the purchase price. However, it can change based upon the value of the property, the purchase date, and whether you are a first-time buyer or not. Also, a 2% surcharge is added to each of these rates for buyers who are non-UK residents.
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Discover whether a property is worth investing in. Use our Rental Yield Calculator to work out the rental yields on your investment.
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Investing in Bradford
From its affordable housing and excellent connections to key players in the Northern Powerhouse, read more on why Bradford is the up-and-coming city to invest in.Take a look