Located in the heart of Liverpool’s business district, Reliance House is set to be converted into 100 luxurious residential apartments. The project presents a fantastic opportunity for buy-to-let investors, with expected rental yields of 7-8% and long-term capital growth.
The £15 million project will be completed by Legacie Developments, providing a further boost to Liverpool’s thriving rental sector, especially in prime city centre locations.
Located on Water Street, Reliance House is situated just a short walk from the Waterfront with fantastic links into the city centre. Various amenities can be found on nearby Castle Street, along with upmarket bars, restaurants and cafés.
Reliance House is also opposite the alternative James Street railway station entrance. Although access is limited at off-peak times and closed at weekends, this is of great convenience for commuters who use the Merseyrail network.
The city centre is a proven hotbed of buy-to-let investment, with guaranteed enquiries for rented properties and a steady stream of graduates looking for jobs/accommodation. This also leads to healthy rental yields, with projected returns of up to 8% based on current market projections.
Liverpool in itself has seen plenty of investment since the turn of the century, with no signs of slowing down. An estimated £10 billion regeneration is planned over the forthcoming decade, helping modernise a city already draped with a strong cultural heritage.
The Reliance House building is far bigger in size than you may expect if stood at the main Water Street entrance. The front section is made up of robust Portland stone, showcasing a strong Edwardian design that has stood up well to the test of time.
At the rear end, an impressive red brick façade adds a touch of character to the building, backing onto the picturesque Church of Our Lady and Saint Nicholas.
The development will create 73 one bedroom apartments and 27 two bedroom apartments, designed to modern standards with lavish high ceilings and large sash windows.
The one bedroom apartments will comprise a large living area, with generous space for lounge, cooking and dining, as well as a study zone in the bedroom. An additional store room is also provided.
The two bedroom apartments will include two separate bathrooms, one of them en-suite. They’ll also include double-bed sized rooms and a large kitchenette area, perfect for young professionals looking to split the cost of rent.
Reliance House offers secure and exceptionally high-quality real estate, located in a prime spot in Liverpool city centre. A spokesman from the Legacie has said of the development:
“We saw its potential straight away, in terms of the way it looks – it has a beautiful Portland stone frontage and it’s nicely proportioned with high ceilings which give a real sense of space – and its location which couldn’t be better.
It’s right in the centre of the business district, facing India Buildings, there are great views overlooking St Nicholas’ Church gardens and the waterfront, and all the restaurants and bars on Castle Street are just a few minutes’ walk away.
From a developer’s and a buyer’s point of view, it really is a prime spot and a prime building.”
The one bedroom apartments will typically be 499 sq. feet/46.6 sq. metres and start at £120,000 in price. Their two bedroom counterparts are 609 sq. feet/56.6 sq. metres and will range from £160,000 upwards.
The 100 available properties will be sold off-plan to both buy-to-let investors or private buyers. A £5,000 reservation fee will be required to secure your interest.