Integritas Property Group (IPG), a property development company known for its ethical approach, has launched the second phase of its successful project, Bijou, in Bradford city centre. The new development, named Optima, has been designed to take advantage of its prime location in the heart of the city.
Optima has been specifically designed for student accommodation, offering 54 student pods and 4 accessible studios. The development is in high demand among students due to its proximity to the city centre, nightlife, and the university.
Speaking about the investment in Bradford, Mitchell Walsh, the Founder and Managing Director of Integritas Property Group, said that Bradford is the tenth largest city economy in England and worth an estimated £11.6 billion. He also noted that the city is well-connected, with direct rail access to London, and has been named the UK City of Culture for 2025.
Walsh further added that the local authority plans to improve large areas of the city centre in the coming years following a £20 million grant from the UK Levelling Up fund. Additionally, the rental yield in Bradford is 6%, which is 2.4% higher than the national average, making it a great time to invest in the area.
Each unit at Optima has been finished to high specifications, complete with stylish interiors, modern appliances, furniture, and an ensuite bathroom. The development also features shared access to a fully fitted kitchen, a laundry room, and direct access to a large open-plan living space for student socialising. Optima House and the rest of the Bijou development have a secure main entrance, CCTV throughout the premises, secure parking, and WIFI.
The new Optima site construction is expected to start in June 2023, with the first completion anticipated in June 2024. Each unit will come fully furnished and managed, with a 999-year lease priced from £78,000. Investors can expect a 7% NET rental return for 12 months, making it an excellent investment opportunity.
