The Ropeworks, a new residential development in Edinburgh’s vibrant Leith area provides investors with a fantastic opportunity to add to their buy to let property portfolios due to the good rental returns and long-term capital growth prospects that it offers.
The Development
The Area – Leith sits to the North of Edinburgh next to the Firth of Forth; home to a special community of ‘Leithers’. Leith has seen a huge regeneration over the past 20 years and there’s a real buzz in the area. There’s a fantastic range of cafes, bars, restaurants galleries and shops and it’s well served for access into the City Centre.
In Leith itself you’ll find Ocean Terminal shopping and leisure centre and some of Edinburgh’s best restaurants including The Kitchin and Martin Wishart. There are a number of bus services running to the City centre and it’s looking highly likely that the tram extension will open up the area further. Leith is popular with professionals working in the City Centre and also those working locally at offices including Commercial Quay and the many co-working and creative spaces dotted around The Shore.
The Ropeworks Properties Available
Phase 1 has sold out and The Ropeworks buy to let properties are already letting well. Phase 2 is now being marketed for sale and consists of 81 properties, including; lofts, 1,2 & 3 bed apartments and garden duplexes. Here are 2 examples of properties current available to buy within The Ropeworks;
We’ve already seen properties let at these levels within the development so can be confident in investors achieving a gross yield of more than 6% within The Ropeworks. Furthermore, as the remaining phases of the site are completed and the development matures, a fantastic community will develop along the length of Leith Links which will inevitably have a positive impact on capital values in and around The Ropeworks. Based on this, a buy to let investment in The Ropeworks is an exciting prospect!
Umega Lettings – We’re Edinburgh’s leading letting agent providing an award-winning property management service to our buy to let investors and tenants. We’re creating one of the best small businesses to work for in the world so that we attract, develop and retain the very best people who can take care of our landlords and tenants and progress towards our mission of smashing the negative stereotypes of letting agents Edinburgh.
If you would like to discuss our opinion on rent or specific apartment suitability as a long-term buy to let investment Edinburgh please do contact our new business team at [email protected] and we’d be very happy to talk you through things.