stamp duty: £1,395
mortgage fees: £1,500
conveyancing fees: £1,000
1 reception room
Most large supermarkets are within a short distance drive and there is a good choice of local shops available within Nelson town centre, about 0.6 miles away. The post office is within 5 mins walking distance.
There is a regular running bus service service within 10 mins walking distance and the railway station is 0.7 miles away.
Prices in BB9 have increased 20% over the last 5 years (+1% in the last 12 months) and are £73k based on the average of the previous 12 months. This varies by property type (£91k for a 1-bed flat to £543k for a 5-bed detached property).
On average, there have been 51 properties sold per month in the area in the last 12 months.
In comparison, prices in the wider Blackburn BB postcode area average £111k over the last 12 months and range between £88k for a 1-bed flat to £392k for a 5-bed detached property.
Rents in BB9 are £423 per month (£5,076 pcm) (+1% in the last 12 months) based on the average of the previous 12 months.
On average, there have been 30 properties listed for rent per month in the area in the last 12 months.
Given prices in the area, gross yield is currently 6.5% which is higher than the national average of 4.7% and wider Blackburn BB postcode area of 5.4%.
This property is currently achieving a gross yield of 8% which is 19% higher than the area.
Source: REalyse - 16/04/2019
£3,900 p.a. / £325 pcm
TENANCY AGREEMENT STARTED
over 4 years ago
TENANCY AGREEMENT ENDS
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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.
Nelson is a town in the Borough of Pendle in Lancashire and approximately 4 miles north of Burnley. The town is located just off Junction 13 of the M65 motorway, which runs west to Burnley, Accrington, Blackburn and Preston, and northeast to Colne. The A56 runs through the town centre southwest to the M65 by Brierfield and northeast to Colne and further. The A682 leads north into the Yorkshire Dales.
Nelson’s railway station is serviced by Northern, with trains running to Blackpool South via Blackburn and Preston and to Colne.
The Pendle Rise Shopping Centre and Nelson’s town centre offer a selection of high street favourites. There is also a large Morrisons on the edge of the town centre. The newly opened Arts, Culture and Enterprise (ACE) centre offers a cinema, theatre and variety shows, an on-site gallery and recording studio as well as conference rooms and venue hire for events.
Nelson has several parks of which Victoria Park and Marsden Park are the most notable. Victoria Park covers eight hectares of land and features a large lake, band stand, bowling green and a children’s play area. Marsden Park features an ornamental pond, a circular garden and sensory garden, as well as five tennis courts, two bowling greens and the Marsden Park Gold Course.
One of the largest business parks in Nelson is in Lomeshaye by junction 12 of the M65. It is home to over 80 businesses which employ approximately 4,000 people. A former cotton mill, now Lomeshaye Business Village contains a further 151 small and medium sized businesses nearby.
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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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