Opportunity to purchase a 41-unit block in Blackburn generating £243,960 rent pa & gross yield of 6.5%
£3,750,000
41-unit Block
VES-BB1-007
INITIAL INVESTMENT
£1,092,500
Based on
deposit: £937,500
stamp duty: £112,500
mortgage fees: £1,500
conveyancing fees: £41,000
GROSS RENT
£243,960
GROSS YIELD
6.5%
The block
TENURE
Freehold
NO OF UNITS
41
TENANCY STATUS
Tenanted
FURNISHED
No
TOTAL SQ FT
16,863
PRICE SQ FT
£222
Block information
- Office to residential conversion
- Spread over two floors (ground to first floor)
- The block comprises:
- 33 x 1-bed apartments
- 4 x 2-bed apartments
- 4 x 1-bed apartments in a former nursery on site
- Each apartment comes with:
- lounge/kitchen/bedroom
- bathroom
- There are 52 car parking spaces
- EPC ratings tbc
- Council tax band: tbc
Rental information
- The block is fully let, generating:
- Aggregate monthly rental income: £20,330
- Aggregate annual rental income: £243,960
Available upon request
- Block breakdown
- Full floorplans
Location information
- The property is located just outside Blackburn town centre
- The town centre is around 1 mile from the property
- There is a bus stop nearby with regular services into town
- Blackburn railway station is just under 1 mile away
- Easy access to the A678 and wider road network
Note
Please note that Vesta has not visited this property and that the vendor has provided all material.
Need more information?
REQUEST BLOCK DETAILS
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.
About Blackburn, Lancashire
Blackburn is a town in Lancashire in north west England. It lies around 8 miles east of Preston and 21 miles north-west of Manchester.
The town is very well connected by road, with the A666 and A667 passing through the town and the M65 motorway running south of Blackburn. The M65 connects to the M61 at junction 9 and the M6 at junction 29.
Blackburn railway station is located in the centre of town and is served by Northern Trains. On the Ribble Valley Line regular trains run south to Manchester Victoria and north to Clitheroe. On the East Lancashire Line there are train services to Preston and Colne, with some through trains to Blackpool South. On the Caldervale Line trains run to Blackpool North as well as to Bradford Interchange, Leeds and York. There are also direct services to Manchester Victoria via Accrington and Burnley and a few through trains to Southport via Wigan Wallgate.
The local landmarks include Blackburn Cathedral, Ewood Park, Queen Victoria’s statue, and the Town Hall. Blackburn has several parks including Corporation Park, Queen’s Park, Roe Lee Park and Witton Country Park.
Other places to visit include Turton and Entwistle Reservoir, King Georges Hall, Blackburn Museum & Art Gallery, Planet Ice Blackburn, Bureau Centre for the Arts and Mrs Dowsons Farm, to name a few.
The Mall Shopping Centre offers a variety of high street brands as well as independent stores. On the ground floor of the shopping centre is Blackburn Market which offers a variety of stalls selling fresh and seasonal produce, textiles, electrical items, clothes, gifts and more. Further retailers can be found in the streets surrounding the shopping centre.
Education in Blackburn is provided by a large number of primary schools, nine state-funded secondary schools and one private secondary school, as well as a few special schools. There are two further education colleges in town and the East Lancashire Institute of Higher Education offer higher education courses for the over 18s.
The main employers in Blackburn include Blackburn College, Thwaites Brewery, BAE Systems, Blackburn with Darwen Borough Council and the East Lancashire Hospitals NHS Trust.
Chaucers Walk,
Blackburn,
Lancashire,
England,
BB1 3AF
What makes us different?
Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.
Benefits include:
- Buy tenanted property
- Huge choice for all budgets
- View property performance data
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.
In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.
Authorised and regulated by the property ombusdman
Copyright © 2023 Vesta Global Limited. All rights reserved.