Barrow-in-Furness, LA14 2HU | Investment Property for Sale | VES-LA14-001

Opportunity to purchase a 3 unit block in Barrow-in-Furness generating a gross yield of 10.1%

£150,000

3 unit block

VES-LA14-001

INITIAL INVESTMENT

£69,000

GROSS RENT / YIELD

£15,120 / 10.1%

NET RENT / YIELD

£11,613 / 7.7%

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The block

TENURE

Freehold

NO OF UNITS

3

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

1,393

PRICE SQ FT

£108

Block information

  • This property consist of 3 x 1-bed flats
  • There is also an outbuilding which is included in the freehold
  • EPCs for all units are available upon request
  • The property requires some work
  • Aggregate rental income: £1,260 pcm; £15,120 pa
  • Aggregate gross yield 10.1%

Flat 1

  • Top floor flat
  • Approximately 452 square feet
  • EPC rating E
  • Rental income £420 pcm; £5,040 pa

Flat 2

  • First floor flat
  • Approximately 420 square feet
  • EPC rating E
  • Rental income £420 pcm; £5,040 pa

Flat 3

  • Ground floor flat
  • Approximately 521 square feet
  • Open plan living/kitchen/diner
  • EPC rating E
  • Rental income £420 pcm; £5,040 pa

Notes

We are currently awaiting the AST from the landlord and will update the listing when received.

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

Financials

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Rental Income

GROSS RENT PER ANNUM

£15,120

Equivalent of £1,260 per calendar month (PCM).

GROSS RENTAL YIELD

10.1%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£11,613

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

7.7%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£3,507

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

All financial information is provided as a guideline only, is based on estimates and assumptions and is subject to change. Buyers are advised to seek independent financial advice. Capital at risk.

About Barrow-in-Furness, Cumbria

Barrow-in-Furness is a town and borough in Cumbria, England. It is located at the tip of the Furness peninsula, close to the Lake District and bordered by Morecambe Bay, Duddon Estuary and the Irish Sea.

The town’s main road is the A590, linking it to the M6 motorway at the Crooklands Interchange on junction 36. The A595 north of Barrow links it to West Cumbria.

Barrow-in-Furness’ main railway station is operated by Northern and runs a number of services. It has connections to Whitehaven, Workington and Carlisle via the Cumbrian Coast Line, also to Ulverston, Grange-over-Sands and Lancaster connecting it to the West Coast Mainline and also runs several trains to Manchester. The second station is in the suburb of Roose and runs a service between Barrow-in-Furness and Lancaster, with others going to Workington and Carlisle, as well as Preston and Manchester Airport.

With its close proximity to the Lake District Barrow is often referred to as the “gateway to the lakes”. It draws large numbers of tourists visiting its many attractions, nature reserves and beaches. Some of its local attractions include Furness Abbey, which dates back to 1123, as well as the Dock Museum and South Lakes Safari Zoo.

Despite being one of the smallest local authorities in the UK, Barrow has an abundance of natural and built heritage assets, which include 274 listed buildings and 4 sites of specific scientific interest. There are 8 Grade I listed buildings, 15 Grade II* and 249 Grade II buildings. It also has several conservation areas, which include Barrow Island, Furness Abbey, North Scale and others.

Just southwest of Barrow, connected via the Jubilee bridge, lies Walney Island. It is around 14 miles long and home to 13,000 people. Another island nearby is Piel Island, which has its very own castle. Once its purpose was to protect the harbour, now it is an English Heritage tourist attraction and can be reached via ferry.

Barrow’s town centre boasts a large indoor market and the Portland Walk Shopping Centre, as well as a number of leisure and retails parks, including Cornmill Crossing, Cornerhouse Retail Park and Hollywood Park.

The biggest employer in Barrow-in-Furness is BAE Systems, who have a shipyard in town. Four offshore wind farms, all located off the coast of Walney Island, provide further employment to locals. Other employers include Furness General Hospital, the Kimberly Clark paper mill, Furness Building Society, Cumbria County Council, as well as Barrow Borough Council and the many retailers and tourist attractions.

Storey Square,

Barrow-in-Furness,

Cumbria,

England,

LA14 2HU

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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