Yorkshire Properties - Parkwood Mills, Huddersfield
PUBLISHED: 14:57 01 November 2011 | UPDATED: 20:13 20 February 2013
Buying a property at Parkwood Mills, Huddersfield, makes sense both as an investment and as a place to live
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The uncertainty of global stock and money markets is seeing investment shift to more solid commodities namely bricks and mortar. Top quality developments in good locations are seen as a secure long-term bet by investors looking for a safe haven for funds. And banks and finance firms have also reported an increase in buy-to-let lending in the past three months as landlords seek to exploit the double boost of lower property prices and increased rental demand.
Buying property also gives you the bonus of actually being able to see your asset so you know its secure and if circumstances change, use it as well.
Project director Simon Dixon had both investment return and a place to live in mind when he bought two apartments at the Parkwood Mills complex in Huddersfield.
After working for several major property developers Simon set up his own business two years ago but also saw going freelance as a chance to travel in between contracts.
He explained: I decided it would be nice to take time out and do other things as well. I spent six months in France during the ski season and later this year I am off to Africa, but this time it will be for two years.
I had sold a property in Yorkshire and wanted a safe place to invest my money in the UK that would give me a reliable monthly income but also be a place to live when I come back.
Simon, 44, had previously rented an apartment at Parkwood Mills so knew the scheme well. He added: Having tried it out as a tenant I know it is a great place to live. They are Grade II listed buildings in a conservation area and have been converted with great skill and attention to detail. A lot of care has gone into the communal areas with thick carpets and lots of pictures. This contrasts with some other apartment schemes where communal spaces feel a bit like offices.
He was so impressed he bought two, one bedroom apartments in the scheme. A corner unit in Quarry Bank Mill has a covered balcony from the living area and the bedroom and the other is in Parkwood Mill. Both were rented out within five days, one for 495 and the other for 450, giving him a healthy rental income while he is away.
Simon said: The on-site team are very effective and really look after the development which was important to me because, being out of the country, I do not want any hassle.
According to local agent James Parkinson from Bramleys, Parkwood is bucking the trend locally and is one of the few schemes where sales are continuing. Prices currently offer incredible value for money and the high number of owner occupiers means a settled community is now emerging in this quaint conservation area.
Parkwood is also a great first time investment for young buyers and a limited number of apartments are being made available under the Governments innovative FirstBuy scheme.