Opportunity to purchase a freehold block of 5 tenanted flats in Blackpool
£345,000
5 Unit Block
VES-FY1-001
INITIAL INVESTMENT
£103,100
Based on
deposit: £86,250
stamp duty: £10,350
mortgage fees: £1,500
conveyancing fees: £5,000
GROSS RENT
£52,160
GROSS YIELD
15.1%
The block
TENURE
Freehold
NO OF UNITS
5
TENANCY STATUS
Tenanted
FURNISHED
No
TOTAL SQ FT
4,132
PRICE SQ FT
£83
Please note that this opportunity is for cash purchasers only.
Summary
- Total no. of units: 5 individual flats
- 4 x 2-bed; 1 x 1-bed
- Tenancy types: AST
- Tenancy start date: Varies
- Tenancy term: Periodic
Rental breakdown
Flat 1 - £1,150 pcm - 2-bed flat with 1 bathroom, used as a holiday let
Flat 2 - £966.67 pcm - 1-bed flat with 1 bathroom, used as a holiday let
Flat 3 - £1,125 pcm - 2-bed flat with 1 bathroom, used as a holiday let
Flat 4 - £540 pcm - 2-bed flat with 1 bathroom, let to same tenant since 2016
Flat 5 - £565 pcm - 2-bed flat with 1 bathroom, let to same tenant since 2018
Total rent pcm - £4,346.67
Please note: The expected rental income for the holiday lets is based on pre-coronavirus bookings and reflect the projected annual average. The current landlord accepts short lets during the months of November - March.
Further Details
- Gas is on separate meters, paid directly by tenants
- Water and electricity on shared connection with individual sub-meters for all flats
- Building insurance is currently £684.52 per annum
- No licence is required.
Note
Please note that the vendor is looking for cash buyers at this time.
Need more information?
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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.
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About Blackpool, Lancashire
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.
Tyldesley Road,
Blackpool,
Blackpool,
England,
FY1 5DF
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