Investor Highlight: Sumner House’s luxury features, such as secure parking, helped Investors secure a rental yield of 7.15%.
Investor Highlight: Chorley is one of the few UK towns and cities to see increasing footfall and low vacancy rates.
At The Heaton Group, our passion is identifying unused buildings and transforming them into luxury spaces the entire community can be proud of. So, when we came across this vacant, five-story office block in 2016, we knew we had to save it.
Planning permission was obtained in early 2017, and the building took its first step to becoming 43 one and two-bed apartments. Despite being released to investors only days after planning permission was obtained, Sumner House sold out within just 6 weeks.
Furthermore, investors didn't have to wait long, with the development taken from purchase to completion in under 12 months.
Following completion, investors took advantage of our expert property management team, who quickly identified and qualified suitable tenants.
As a result, all 43 apartments at Sumner House where let to working professionals within 11 weeks. This meant it wasn't long before our investors began seeing a return from the property, which yielded an impressive 7% net return.
Sumner House provided great returns for our investors, all while supporting the town of Chorley and providing property they can be proud of. The project was completed on time and budget
If you want to learn more about Sumner House or any of our current investment opportunities, book a call to speak to a member of our team.