5 Unit Block
GROSS RENT / YIELD
£54,180 / 15.7%
NET RENT / YIELD
£41,614 / 12.1%
Through our expertise and research, we have found that this property is above the average of this location based on data from REalyse, PropertyData and Zoopla
The higher the yield the stronger the return on investment.
NO OF UNITS
TOTAL SQ FT
PRICE SQ FT
Flat 1 - £992 pcm - 3-bed flat with 1 bathroom, let on a per room basis
Flat 2 - £505 pcm - 1-bed flat with 1 bathroom, let to same tenant since 2017
Flat 3 - £1,438 pcm - 2-bed flat with 1 bathroom, used as a holiday let
Flat 4 - £965 pcm - 3-bed flat with 1 bathroom, let on a per room basis
Flat 5 - £615 pcm - 2-bed flat with 1 bathroom, let to same tenant since 2018
Total rent pcm - £4,515
Please note: expected rental income during winter months is £4,000 pcm, taking into account low demand for Flat 3, holiday let; the current landlord accepts short lets during the months of October - April
Prices in FY1 have increased 17% over the last 5 years (-2% over the last 12 months) and are £79k which varies by property type (£50k-£155k). There have been 40 properties sold in the area in the last 12 months.
Rents in FY1 are now at £465 per month. Given prices in the area, gross yield is currently 7.5% which is higher than the national average of 4.7% and Blackpool FY of 5.7%. This property is currently achieving a gross yield of 9.29% which is 19% higher than the area.
Note: Vesta has not visited the property and the materials have been provided by the vendor.
Last updated - Feb 2019
Documents available on request, please contact for viewings or further questions.
The information relating to the property is supplied by the vendor and the latest available at the date of listing.
Certain information may expire or become inaccurate over time and should be verified by the purchaser’s solicitor.
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GROSS RENT PER ANNUM
GROSS RENTAL YIELD
NET RENT PER ANNUM
NET RENTAL YIELD
FULLY MANAGED OPERATING COSTS
Click to understand assumptions.
Profit & Growth
ANNUAL (PRE-TAX) PROFIT
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HPI GROWTH (PREV 5 YRS)
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.
Blackpool is a seaside resort on the coast of the county of Lancashire in north-west England. This town is situated around 15 miles north-west of Preston, 27 miles north of Liverpool and 40 miles north-west of Manchester.
Blackpool North is the main station serving this town and is the terminus stop on the Blackpool branch line operated by Northern and Virgin Trains. Northern runs 1 train per hour to each of these destinations from this station; Preston, Liverpool Lime Street and Manchester Piccadilly via Bolton. A further 4 trains per day to London Euston are run by Virgin Trains.
Blackpool Transport and Stagecoach provide bus services around the town and to destinations within the region also. Blackpool fortunately has access to a tram service that run from Starr Gate to Fleetwood, and there are plans to extend this even further to Blackpool North station by April 2019.
Blackpool is still recognised as one of the major centres of tourism in the UK and there are over a hundred fun-filled and action-packed attractions, throughout the centre of town and surrounding areas.
Attractions such as Blackpool Pleasure Beach, Blackpool tower, SEA LIFE, Blackpool Zoo, Madame Tussauds and many more draws in thousands of tourists every year. This property is also a short walk from Houndshill Shopping Centre which is the main source of retail options in town and has a selection of well-known high street brands.
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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