Blackburn, BB2 4JT | Investment Property for Sale | VES-BB2-001

Opportunity to purchase a HMO in Blackburn which will generate a gross yield of 8.5%

£163,646

HMO Terraced House

VES-BB2-001

INITIAL INVESTMENT

£48,321

Based on

deposit: £40,912

stamp duty: £4,909

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£13,908

GROSS YIELD

8.5%

ADD TO FAVOURITES

The property

TENANCY

Vacant

TENURE

Leasehold

5 bedrooms

1 bathroom

1 reception room

1,030

Fully Furnished

Leasehold information

  • Length of lease: 999 years
  • Year lease started: 1983
  • Ground rent: tbc
  • Service charge: NIL

Property information

  • Brand new HMO under development
  • The property is currently undergoing full refurbishment and redecoration works
  • The works are expected to complete by September/October 2021
  • 5 bedrooms
  • 1 reception rooms
  • 1 shared bathroom
  • Communal kitchen
  • EPC rating: the current rating is D, but it is expected that this will improve following the completion of works

Rental information

  • Tenants have already been sourced for this property
  • A 7-year (flexible term) FRI lease has been agreed
  • The tenant pays all bills
  • Agreed monthly rental income £1,159

Location information

  • The property is located in the Lower Darwen area of Blackburn
  • Blackburn town centre is 2 miles by car from the property
  • Easy access to the M65 motorway by junction 4

Notes

We are awaiting the floorplan from the vendor as well as internal photos and will add them as soon as they are received.

Following the works the vendor will arrange for a new EPC to be carried out. Once this is received the listing will be updated accordingly.

Please note that Vesta has not visited this property and that the vendor has provided all material.

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.

Bolton Road,

Blackburn,

Blackburn with Darwen,

England,

BB2 4JT

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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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