Blackpool, various postcodes | Investment Property for Sale | VES-FY3-001

Opportunity to purchase a 5 unit portfolio in Blackpool generating £25,983.96 rent pa

£325,000

5-unit Portfolio

VES-FY3-001

INITIAL INVESTMENT

£146,250

GROSS RENT / YIELD

£25,984 / 8.0%

NET RENT / YIELD

£17,969 / 5.5%

ADD TO FAVOURITES

The portfolio

TENURE

Leasehold

NO OF UNITS

5

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

2,323

PRICE SQ FT

£140

GROUND RENT

£50

SERVICE CHARGE

£1,938

This is an opportunity to purchase a portfolio of 5 leasehold apartments in Blackpool. See details below:

Normoss Avenue, FY3 7PX

  • 1 bedroom, 1 bathroom, 1 reception
  • 527 square feet
  • Monthly rental income £433
  • Fully tenanted
  • EPC rating C
  • Length of lease: 125 years
  • Year lease started: 1990
  • Ground rent: £10
  • Service charge: £323.38
  • Asking price £60,000

Argosy Avenue, FY3 7NG

  • 1 bedroom, 1 bathroom, 1 reception
  • 495 square feet
  • Monthly rental income £433
  • Fully tenanted
  • EPC rating C
  • Length of lease: 125 years
  • Year lease started: 1988
  • Ground rent: £10
  • Service charge: £453.07
  • Asking price £65,000

Tynedale Place, FY3 7UD

  • 1 bedroom, 1 bathroom, 1 reception
  • 495 square feet
  • Monthly rental income £433
  • Fully tenanted
  • EPC rating D
  • Length of lease: 125 years
  • Year lease started: 1993
  • Ground rent: £10
  • Service charge: £436.69
  • Asking price £65,000

Nesswood Avenue, FY4 3PW

  • 1 bedroom, 1 bathroom, 1 reception
  • 516 square feet
  • Monthly rental income £433
  • Fully tenanted
  • EPC rating E
  • Length of lease: 125 years
  • Year lease started: 1990
  • Ground rent: £10
  • Service charge: £365.21
  • Asking price £60,000

The Spinney, FY5 3BB

  • 1 bedroom, 1 bathroom, 1 reception
  • 290 square feet
  • Monthly rental income £433.33
  • Fully tenanted
  • EPC rating D
  • Length of lease: 999 years
  • Year lease started: 1983
  • Ground rent: £10
  • Service charge: £360
  • Asking price £75,000

Note

Please note that we are currently awaiting the tenancy agreements from the vendor.

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.

Financials

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Rental Income

GROSS RENT PER ANNUM

£25,984

Equivalent of £2,165 per calendar month (PCM).

GROSS RENTAL YIELD

8.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£17,969

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

5.5%

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

FULLY MANAGED OPERATING COSTS

£8,015

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 Thornton-Cleveleys, Blackpool

Thornton-Cleveleys

Thornton-Cleveleys consists of the twin towns of Thornton and Cleveleys and is part of the Blackpool Urban Area. Both Thornton and Cleveleys lie about 4 miles north of Blackpool and 2 miles south of Fleetwood.

Cleveleys is on the Blackpool Tramway and there are 5 tram stops in the area. The tramway runs from Blackpool to Fleetwood via Bispham and Cleveleys.

The nearest railways station is Poulton-le-Fylde, which is 3.5 miles outside of Cleveleys. The station runs trains to and from Blackpool North and to Hazel Grove via Manchester Piccadilly, Manchester Airport, York and to Liverpool Lime Street via St Helens Central. Virgin Trains operates services between London Euston and Blackpool North.

Blackpool

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.

What makes us different?

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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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