Blackpool, FY1 5DF | Investment Property for Sale | VES-FY1-001

Opportunity to purchase a freehold block of 5 tenanted flats in Blackpool

£345,000

5 Unit Block

VES-FY1-001

INITIAL INVESTMENT

£159,350

GROSS RENT / YIELD

£32,040 / 9.3%

NET RENT / YIELD

£24,609 / 7.1%

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Above average yield

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.

The block

TENURE

Freehold

NO OF UNITS

5

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

4,132

PRICE SQ FT

£83

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

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.

Sales trends

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.

Rental Trends

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

Floorplans

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.

Financials

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Rental Income

GROSS RENT PER ANNUM

£32,040

Equivalent of £2,670 per calendar month (PCM).

GROSS RENTAL YIELD

9.3%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£24,609

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

7.1%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£7,431

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

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.

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

What makes us different?

Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.

Benefits include:

  • Buy tenanted property
  • Huge choice for all budgets
  • View property performance data
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Questions?

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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.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

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