Knight Knox, has launched a new buy-to-let scheme in Sheffield – the first of the property consultancy’s developments to go to market this decade.
Kelham Gate will be delivered by property developer R S Sabkha Construction and Developments Ltd and has a build value of £5.1m.
The development is located at the entrance of the Kelham Island district, one of Sheffield’s premier urban villages offering a diverse range of restaurants and bars and one that is quickly becoming the go-to for young professionals in the city. Kelham Gate will comprise 49 stunning homes, including a range of studio and one-bedroom apartments,as well as a communal lobby, bike storage and a garden courtyard.
Since its launch earlier this month, more than 40 per cent of the development has already been sold.
Kelham Gate is Knight Knox’s 101st UK development and joins a strong portfolio of completed projects in Sheffield, including Bells Court, Alexandra House and Palatine Gardens, as well as Great Central which is completing in September this year.
Martin Copeland, managing director at Knight Knox, said: “Sheffield is one of the country’s most exciting areas to invest in. The city is one of the fastest growing in the UK, with its robust economy and multitude of employment opportunities.
“However, with a there’s a severe shortage of high-quality rental accommodation, there’s a real appetite for property that meets the demands of the modern day tenant. It’s a gap we hope to fill with the launch of developments such as Kelham Gate, Great Central and our other Sheffield schemes.
“The city’s outlook continues to be promising, with house prices and rents predicted to continuously improve over the next few years – now is the perfect time to take advantage of the high yields on offer. Kelham Gate is set to be an extremely popular addition to the exciting residential market in Sheffield and we look forward to seeing the project complete in early 2020.”
S Sabkha Construction and Developments Ltd will act as the developer for Kelham Gate, which has been designed by architect Coda Studios. Broadfield Project Management acted as quantity surveyor and project manager. Lettings and management will be undertaken by Intus Lettings.
Construction of Kelham Gate is expected to complete in Q1 2020, and prices start from £91,000.