Opportunity to purchase a freehold block of 5 tenanted flats in Blackpool
£299,000
5 Unit Block
VES-FY1-001
INITIAL INVESTMENT
£90,220
Based on
deposit: £74,750
stamp duty: £8,970
mortgage fees: £1,500
conveyancing fees: £5,000
GROSS RENT
£33,276
GROSS YIELD
11.1%
The block
TENURE
Freehold
NO OF UNITS
5
TENANCY STATUS
Tenanted
FURNISHED
No
TOTAL SQ FT
4,132
PRICE SQ FT
£72
Please note that this opportunity is for cash purchasers only.
Block information
- The block consists of 5 individual apartments:
- 4 x 2-bed apartments
- 1 x 1-bed apartment
- Gas is on separate meters, paid directly by tenants
- Water and electricity is on a shared connection with individual sub-meters for all flats
- Building insurance is currently £684.52 per annum
- EPC ratings C & D
Rental breakdown
- Flat 1 - £573 pcm - 2-bed, current rent
- Flat 2 - £475 pcm - 1-bed, rent from 2016-2020 (last tenant stayed 2 years)
- Flat 3 - £550 pcm - 2-bed, frent from 2016-2019 (1 tenant in 3 years)
- Flat 4 - £560 pcm - 2-bed, rent from 2016-2020 (1 tenant in 4 years)
- Flat 5 - £615 pcm - 2-bed, current rent (tenant since 2018)
- Total rent pcm: £2,773
- Total rent pa: £33,276
Location information
- The property is just over 1 mile from the city centre and Blackpool North railway station
- Blackpool Pier is less than 10-minute walk from the property
- A small number of convenience stores are just a short walk away
Note
Please note that the vendor is looking for cash buyers at this time.
Please note that Vesta has not visited this property and that all material has been provided by the vendor.
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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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