At Fitzwilliam Capital Partners, we are nearing the end of the build at Agin Court in Leicester.
Agin Court marks our third development in Leicester in just three years, so today we look at the huge success we’ve had in the city since we first started developing property there in 2015. We also look at why we chose Leicester as, “The Next Big Hotspot!”
Leicester: A Growing Property Hotspot
When our land directors originally selected Leicester as a development opportunity, our sales team were a little unsure about the city’s prospects. At that time, Leicester wasn’t exactly what you’d call an “easy sell”. However, with key insights about upcoming development in the city, coupled with the growing student rental demand, our team knew they were onto a winner.
Director Hayley Moore explains: “When we began the build on our first development in Leicester – Blenheim Court in 2015, we were aware of the plans for the city. It had an air of confidence about it, and we believed it was a great opportunity to invest”.
Building New Developments in Leicester
Our team’s hunch was right. Blenheim Court, a mix of two and three-bed apartments completed in September 2015 and sold in record time, achieving a 20% increase in rental than previously anticipated.
Crecy Court was the next Leicester scheme for Fitzwilliam Capital Partners and it completed in October 2016. Located on Lee Street on the edge of what is now the city’s Cultural Quarter, the scheme delivered 28 luxury two and three-bedroom dwellings. Again this development sold out in record time and achieved a 25% increase in rents than originally anticipated.
Leicester Recognised as Key Growth Area
After the success of these developments, a buzz around Leicester has started to build. Just last year, the city was named in the top 10 English cities to live and work, ahead of cities such as London and Brighton.
While these ‘top 10’ credentials come as no surprise to Sarah Harrison, Leicester Council’s city centre director, the city’s rapid growth has.
She said: “The growth we have seen in Leicester city centre over the past year has been beyond all expectations.
“As well as the opening of a number of new bars, restaurants and coffee shops, we have also seen a huge rise in the number of residential developments, which is really adding to the vibrant feel of the place”.
Redevelopment in the city continues. In June 2018, work began on a huge £47m regeneration project, which is set to include two new hotels – one six-storey and one 10-storey, 35,000 sq ft of office space, and a new public realm area.
Sean Bowles managing director of Morgan Sindall in the Midlands, the contractor carrying out the work said: “Leicester is riding a wave of optimism and prosperity, on the back of a resurgent tourist industry.”
In addition to the £250m transformation of Leicester’s long neglected Waterside, Leicester’s rapid growth continues to shine a light on the city.
Agin Court offers New Homes in Leicester
Following the success of our first two Leicester developments, Fitzwilliam launched Agin Court in November 2017. As our most exclusive development to date, and going on sale in a much a warmer Leicester market than before, almost all of the scheme’s 38 two-bedroom apartments and penthouses have sold completely off plan.
Discussing the success of the developments, Fitzwilliam Capital Partners operations director Phil Mulroney comments: “Our land directors have the ability to locate opportunities in luke warm areas! Not the most sales friendly line, but it means that our buyers buy at the lowest price possible, knowing that in time this luke warm area will be hot, thus maximising their investment.”
He adds:“Leicester is a great example of this and, the success that we have achieved in the city for our investors speaks for itself!”.
Fitzwilliam Property Development and Investment
If you’re looking to invest in UK property, our dedicated team can help make sure your investment works as hard as it possibly can. Constantly on the lookout for key growth areas, we’re dedicated to developing properties that deliver outstanding yields for our investors.
So, whether you’re an experienced investor who’s looking to add to your portfolio or looking for your first investment, get in touch today. Our team of experts will be able to help you find your perfect property. Call us on 0161 641 3100 or email hello@fitzwilliam-cp.com.