Prosperity Wealth

Lombard House

Newark-on-Trent

Overview

Forming part of Prosperity’s conversion portfolio, Lombard House is a former office block which will comprise of 18 stylish, contemporary one bed apartments.

With planning consented under permitted development rights, Lombard House is located close to Newark town centre, with a wide range of popular high street and boutique shops as well as a multitude of other amenities. The local bus station is on the doorstep and Newark train station is a 10 minute walk away providing an excellent link to the cities of Nottingham and Lincoln.

Key points

  • Property type:
    PDR conversion
  • Location:
    Newark-on-Trent
  • Units available:
    18 one bed apartments
  • Guide price:
    £89,995 - £99,995
  • Predicted yield:
    6.6%

Status: Planning granted

Estimated completion: Q4 2021

Find out more info about the development

Get in touch

First time investorBuilding my portfolioSeasoned investorExisting clientI want to be an introducer

It's all about the location

Lombard House is located on Lombard Street in the market town of Newark-on-Trent, Nottinghamshire. Standing on the picturesque River Trent, the town is home to many commuters to the city of Nottingham.

Location 01

Location

The town benefits from its location between the two major cities of Nottingham & Lincoln - perfect for those who wish to live away from the hustle and bustle of city life.

02

Economy

Newark is a prosperous area with an employment rate of 77%, above the national average. Earnings are 7% above those in the surrounding East Midlands region.

Economy
Regeneration 03

Regeneration

The planning authority is committed to employment and housing growth with 80 hectares of designated development land.

04

Business

The district is home to more than 8,000 businesses and has been recognised as a Growth Point by the UK government.

Business
Connectivity 05

Connectivity

Perfectly positioned at the convergence of major road and rail routes offering easy access to East Midlands airport.

06

Education

Well rated local schools and colleges as well as nearby universities in Nottingham, Lincoln and Derby.

Education
Property Market 07

Property Market

With the average value of a Nottinghamshire house around half that of the UK average, it's no wonder more and more investors are choosing to invest.

08

Tourism

Tourism is flourishing - attractions include Newark Castle, National Civil War Centre, Rufford Country Park, Southwell Minster and Sherwood Forest.

Tourism

The property & investment

Prosperity’s trademark design delivers style and contemporary elegance to every development. All homes will feature an open plan living area, stylish custom fitted kitchen with integrated appliances and a contemporary white bathroom suite.

Each apartment has been intelligently planned to create the best accommodation flow possible in which to socialise and relax and an individual specification selected to maximise the appearance and long-term enjoyment of each newly created home.

Payment plans

No Mortgage

1 Bedroom Apartment

Purchase Price: £99,995.00
Reservation Deposit: £9,999.50 plus £850 legal fee
Monthly Payment Stage: 24 x £2,499.88

Remaining payments are covered by rental income over 5 years.
This option is perfectly suited to clients without a large lump sum. Payments can be made across the 24 month build term – keeping payments low.

Payment plan provided is correct at the time of development launch.

Estimated gross rental income £550 per month / £6,600 per year
Estimated gross rental yield 6.6%

Monthly & Mortgage

1 Bedroom Apartment

Purchase Price: £99,995.00
Reservation Deposit: £9,999.50 plus £850 legal fee
Monthly Payment Stage: 24 x £1,041.61

Balance is paid by way of an arranged mortgage or cash.
This option is perfectly suited to clients without a large lump sum. Payments can be made across the 24 month build term – keeping payments low. This payment plan is only available on selected plots.

Payment plan provided is correct at the time of development launch.

Estimated gross rental income £550 per month / £6,600 per year
Estimated gross rental yield 6.6%