Integritas Property Group (IPG) has been granted planning permission to develop 62 homes in a new apartment block in the city’s Pumpfields district, off Naylor Street.
Three warehouse buildings on site will be demolished to make way for the residential building, Vaux at Naylor Street, which will compromise apartments available for private sale or rent with prices ranging from £168,000 to £309,750.
Theanticipated rental yields are at 7.5% for long term lettings investors, andupwards of 10% p/a for short term lettings investors.
MitchWalsh, CEO at IPG, said: “We’re extremely happy to bring this amazing newdevelopment to the market.
“We are very proud to have sold out all our other developments in the surrounding area, with the planning for this project taking us a huge step forward in our1,000-unit milestone by the end of 2024.”
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