Preston is expanding both in terms of size but also in terms of its economical and cultural output. Redevelopment throughout the city has provided 17,420 new homes in the local area and over 20,000 new jobs. Redesign of the infrastructure has meant the increase of the road/traffic system. Average rents in Preston have recently risen by 4% and the commuter footprint continues to also increase. It is little wonder then why we have taken on several investment developments in the past and continue to consider new developments when they are offered, our Preston location guide is worth reading. Cannon Street is no exception, it is a stylish new build development providing just 12 one and two bedroom attractive and well designed apartments.
The apartments are finished to a very high standard with integrated appliances, Juliet balconies, and, in keeping with the importance of the eco footprint, all properties benefit from low carbon efficient heating, and solar panels.
Short Term Lets are allowed in the lease which gives investors multiple revenue options
The development is situated in the heart of the city close to all amenities, with a PR1 postcode, Cannon Street also benefits from restrictive vehicle movement which greatly benefits tenants & pedestrians visiting the vibrant café culture found on the street.
*Annual Rental income can vary, please speak to your consultant about the potential of the unit you are interested in, Residential Estates would also suggest you carry out your own due diligence in the local market at the time of purchase
** Lending is available for Holiday Use only properties, however there are only certain specific lenders that will lend on this type of property. The provision of lender finance for your purchase is also dependant upon individual circumstances and cannot be guaranteed. We advise you to obtain independent financial advice before entering into an agreement upon which you will be relying upon lender finance. Any decision to proceed with lender finance is your decision only. If lender finance cannot be obtained you will be required to complete on your purchase in any event. Residential Estates are not regulated by the FSA, nor are they a finance company and cannot be held liable for any purchaser being unable to obtain mortgage monies for their purchase. Please read the FAQs above for more information.