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Parliament Square, Liverpool

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Hi everyone, I'm a first time investor and have been checking out Parliament Square in Liverpool L1, sold by RW Invest and developed by Legacie. I have my reservations as it's the first time doing this, but most of the numbers seem to add up. My main concern is that they are claiming that they'll achieve a rental figure of 950pcm for a 1 bed flat on the 3rd floor and everywhere else that I look in the area shows 1 beds renting for no more than 750, but usually 600-650. In their defence, the flats look very well finished and tenants will have access to a swimming pool, spa, gym, meeting rooms, yoga rooms and sky lounge. Sounds great, but does it really warrant the the massive price difference compared to the rest of the area?

Has anybody else already invested in Parliament Square or used RW Invest before that could shed some light for me and put my mind at ease? or advise me to steer clear if necessary. 


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Hi Craggy1sland

I have no personal experience or investment in this development or agent, but there's a few threads over on the Property Tribes forum where other investors have also raised their concerns. I think there's a private group you can join to discuss the issues.

Related threads are here:



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  • 3 weeks later...

RW Invest are pretty good, meaning they don't tend to back a developer that they haven't checked out thoroughly. This is very important, as there have been many cowboy developers in Liverpool in recent years who have gone bankrupt, leaving the hapless investor holding an uncompleted or unsellable property - sometimes for years. Legacie are also good developers with a solid track record. However, the problem is the price. These flats are way overpriced. For example, they're asking for at least 210k for a (small) 2-bedroom apartment. That's very expensive. Marshalls were until recently selling 2-beds for 155 in a different developments further north, near the docks (just as good an area). As for gyms and swimming pools on upper floors - why do you need them? It won't increase the value of your property - just the opposite. Swimming pools are very expensive things to run and those costs have to be covered in the service charges, which are inversely correlated to the value of a property. And you won't get significantly more per month in rent to cover that (in other words, YOU'll be paying for that pool, while your tenant enjoys the benefits). 1-bedroom flats will NOT rent for 950 in that development. I've personally never seen a 1-bedroom flat renting for more than 750 a month in Liverpool (e.g. in West Africa House or Mann Island - both in far more desirable locations). I reckon you'll get 650 a month for a 1-bed and 850 a month for a 2-bed. And out of that you'll be paying a service charge around the 1,700 a year mark in a couple of years time plus ground rent of around 350 a year, i.e. over 2,000 in annual costs, which will have to come out of YOUR pocket. If you're just looking for an investment, forget that and buy yourself a couple of nice 2 or 3-bedroom freehold houses in Liverpool instead. 

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