The Visio development at Hawkhill Close is only minutes away from the heart of Edinburgh City Centre and is even closer to Leith which is acknowledged as being one of Edinburgh’s hippest districts and is currently home to a fantastic opportunity to purchase a popular, exclusive and well-established residential investment.
This is a flagship development created by Westpoint Homes in 2007, the contemporary and well-appointed seven-storey Visio development. The development features one, two and three bedroom apartments as well as luxury penthouses with expansive outdoor private spaces.
The development commands stunning views of Arthur’s Seat, Calton Hill, and beyond to the picturesque waters of the Forth. This is also a convenient commuting base amid a vibrant community, the bright, open plan residential property benefits from landscaped grounds, underground car parking, secure entry system with lift access, and is fully occupied.
Location
A true cultural and business landmark, Scotland’s cosmopolitan capital city is the administrative hub of Scotland, boasting a population of some 480,000 people, whilst playing host to a diverse business base for a number of international headquartered organisations. Edinburgh’s unique character, mixing beautiful historical architecture with a forward-thinking outlook and all with lush countryside just a stone’s throw away, makes it an attractive and desirable place to live. The capital boasts a strong heritage of the finest galleries, theatres and museums, matched by some of Scotland’s best shops, restaurants and bars - and you don’t have to travel far from the city centre to escape to the stunning green idyll that is the Lothians and its many leisure opportunities.
Indeed, it's no coincidence that the city was recently voted the best and most desirable place to live in the UK, based on a quality of life index.
Edinburgh is the most well connected city in Scotland for accessibility by road, rail and air, making it ideal for business and tourism alike. The city benefits from direct access to the UK’s wider motorway network, as well as being home to two designated train stations, Edinburgh Waverley and Haymarket. Furthermore, Edinburgh International Airport is one of the busiest airports in the UK and serves millions of passengers every year to a variety of worldwide destinations, making for a true transport hub.
The Visio apartments in Hawkhill Close are located within an area which has enjoyed significant sensitive regeneration and investment over the last few years, transforming it into one of the city’s most vibrant and modern neighbourhoods for young professionals with numerous retail and leisure amenities on the doorstep. Indeed, awaiting residents is a bustling community replete with fashionable shops and boutiques – leading department store Harvey Nichols is close by – high end restaurants, busy bistros, cool cafes and stylish bars, not to mention wide recreational opportunities for the active-minded.
City of Edinburgh Council is currently spearheading a waterfront regeneration programme and proposed tramline down Leith Walk to serve the wider Edinburgh north region, further enhancing the appeal of Scotland’s eclectic capital.
More precisely, the subjects are accessed directly off Hawkhill Avenue which forms part of Albion Place, linking directly to Easter Road, and forms part of a modern development built by recognised housebuilder Westpoint Homes, one of Scotland’s most highly regarded developers and renowned for excellent quality of finish.
Accommodation
A breakdown of the income profile and accommodation within Block 11 at Hawkhill Close can be found within the brochure.
Terms
A breakdown of the income profile and accommodation within Block 11 at Hawkhill Close can be found within the brochure.
EDINBURGH’S RESIDENTIAL MARKET
Edinburgh’s residential market continues to outperform the rest of Scotland and the majority of the UK, with the exception of London, despite the recent economic trading conditions and the introduction of LBTT in 2015.
Demand for 1, 2 & 3 bedroom apartments within the £XXX-£XXX bracket has been strong and sustained from both the buy-to-let investors and first time buyers’ market with the average monthly apartment price increasing by 3% over the past 18 months throughout Edinburgh.
City centre property prices are now rising at twice the national average against the backdrop of a well-documented shortage of new and affordable homes throughout the region.
Certainly, statistics from Registers of Scotland now show that the average house price in the capital for October-December was £XXX – an increase of 3.2% on the same quarter the previous year.
Edinburgh also recorded the highest volume of property sales and was up 21.4 %, compared with the largest drop in Aberdeen where the number of sales was down 12%.
This hugely buoyant market means that a significant proportion of the money that comes into Scotland for the buy-to-let market ends up in ever-popular Edinburgh. Therefore, it represents a natural first stop for those looking to invest.
ALTERNATIVE USES
Aside from traditional residential dwellings, there may be scope to re-configure the existing building to create an apart-hotel or serviced apartments, both of which are experiencing a significant upturn in demand against a backdrop of limited supply.
PRICE
Offers over £XXX are sought, reflecting a gross yield of 5.51%.
VAT
VAT has not been elected and it is envisaged that the sale will be treated as a VAT free transaction.
LEGAL EXPENSES
Each party to bear their own legal expenses in connection with this transaction.
Specification
- Rare opportunity to purchase a single block residential investment
- Developed by WestPoint Homes in 2007
- Underground car parking
- 100% fully occupied
- Income producing of £XXX per annum
- Offers over £XXX are sought representing a 5.51% gross yield
A detailed view of the property specifications can be found withn the brochure.