Leeds Boasts Tallest Residential Building in the UK

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The skyline of Leeds city centre is soon to be graced with a magnificent structure: a huge 54 storey landmark construction comprising luxury, contemporary residential and commercial units. The building is to be the highest residential building in the UK and one of the tallest in Europe, reflecting the city's importance as a major UK economic centre. Lumiere Leeds offers early-entry prices and a very favourable payment structure.

According to the International Property Investment Network (IPIN), commercial and residential units at Lumiere Leeds offer top investment potential, along with the contemporary luxury to be expected from this major UK city.

Nationally renowned developers, architects and interior designers, with impressive track records in projects such as Manyoo, Bridgewater Place, Manor Mills, Emperors Wharf, amongst others, have begun work on Lumiere Leeds' two buildings in the heart of the city centre: Tower 1, comprising 54 floors, and Tower 2 with 32 floors will be linked by a beautiful contemporary glazed "Winter Garden", reflecting the innovative design concepts of this state-of-the-art residential and commercial centre. The project is due for completion by the second quarter of 2011.

Homebuyers and investors are choosing from Smartpads from 101,000 GBP (21m2); studios from 121,000 GBP (28m2); one bedroom apartments from 138,000-167,000 GBP (35-50m2) and two bedroom apartments from 212,000 GBP to 217,000 GBP (64-66m2), all of which offer encouraging rental potential of approximately 6.4 % per annum and projected capital growth of up to 10% per annum.

IPIN Product Manager, Mark Wilson, adds: "Payment options too, are favourable, with a reservation deposit of 1,000 GBP initially required, and 5% of the purchase price by the end of January next year. This is followed by a further 5% in January 2010, while the remaining balance of 90% won't need to be paid until completion in 2011. Lumiere is a versatile and manageable investment for many buyers wishing to take advantage of the time scale of the terms." A prime location and general widening of the affordability gap in the UK is expected to fuel the rental market in such key economic centres as Leeds. Another point for buyers to consider is that, after London, Leeds boasts the second highest level of annual growth in England, with the average Leeds house price now reaching £148,790 and attracting annual growth of 6.9%.

In addition to its contemporary residential units, Lumiere Leeds offers 20,000 square feet of retail units, restaurants, coffee bars, as well as prime office spaces and medical practices. Bernardo Retana, Director of Investment Product and Development at IPIN, is impressed by the immense potential the project's location has to offer, "With such a central location, living and working at Lumiere Leeds will satisfy the modern trend for convenient city living, with everything right on the doorstep, while making the most of Leeds' excellent transport facilities in and around the city. Investors should also remember that Leeds is the major economic driver in West Yorkshire; it has an important and growing business sector which is set to propel the Leeds real estate market still further."    

Strong household growth (estimated 44,000 additional households by 2026), a growing student population (increase of 35,000 students in the last decade) as well as healthy employment and earnings forecasts suggest a growing demand for residential property, particularly in new, prestigious city centre projects such as Lumiere. As a result, buyers are wasting no time in researching and reserving the best units left in this outstanding UK city investment opportunity.

All discerning property investors realize the importance of taking advantage of the most lucrative real estate opportunities as soon as they arise, before they become common knowledge. The International Property Investment Network (IPIN) operated by http://www.Propertyshowrooms.com helps all types of investors in their quest to access up-to-the minute information on the very latest investment opportunities in the worldwide property market today.

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