Blackburn, BB1 4PD | Investment Property for Sale | VES-BB1-004

Opportunity to purchase a terraced property in Blackburn generating £5,940 gross rent pa & gross yield of 8.5%

£70,000

Terraced House

VES-BB1-004

INITIAL INVESTMENT

£22,100

Based on

deposit: £17,500

stamp duty: £2,100

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£5,940

GROSS YIELD

8.5%

ADD TO FAVOURITES

Long-term tenant

Tenants that stay for long periods feel they have a stake in the property and are more likely to treat it as though it was theirs.

Benefits include:

  • Steady income
  • Minimised wear and tear
  • Fewer void periods

The property

TENANCY

Tenanted

TENURE

Leasehold

2 bedrooms

1 bathroom

2 reception rooms

933

Unfurnished

Leasehold information

  • Length of lease: 999 years
  • Year lease started: 1871
  • Years left on lease: 848 years (from 2022)
  • Ground rent: n/a
  • Ground rent review period: n/a
  • Service charge: n/a
  • Service charge review period: n/a

Property information

  • Split over 2 floors
  • The ground floor comprises:
    • Lounge
    • Dining room
    • Bathroom
    • Kitchen
    • Rear yard with a gate leading out into the alleyway
  • The first floor comprises:
    • 2 x double bedrooms
  • Double-glazing throughout
  • Gas central heating
  • EPC rating D
  • Council tax band A
  • Monthly rental income £495
  • The tenants have been in situ since October 2018

Location information

  • The property is located in the Rishton area of Blackburn
  • Rishton High Street is less than a 5-minute walk away
  • There is also a bus stop with regular services just a few steps from the property
  • Easy access to the M65 via junction 7

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.

Burton Street,

Rishton,

Blackburn,

Lancashire,

England,

BB1 4PD

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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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