Nelson, BB9 9JB | Investment Property for Sale | VES-BB9-001

Opportunity to purchase a terraced house in Nelson generating £3,900 rent pa and a gross yield of 8%

£48,500

Terraced House

VES-BB9-001

INITIAL INVESTMENT

£24,255

GROSS RENT / YIELD

£3,900 / 8.0%

NET RENT / YIELD

£2,996 / 6.2%

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The property

TENANCY

Tenanted

TENURE

Freehold

2 bedrooms

1 bathroom

1 reception room

729

Unfurnished

Market Trends

Sales Trends

  • 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.

Rental Trends

  • 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

Tenancy

RENT

£3,900 p.a. / £325 pcm

TENANCY DEPOSIT

£325

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

over 3 years ago

TENANCY AGREEMENT ENDS

Periodic

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

£3,900

Equivalent of £325 per calendar month (PCM).

GROSS RENTAL YIELD

8.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£2,996

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

6.2%

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

FULLY MANAGED OPERATING COSTS

£905

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 Nelson, Lancashire

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.

Whitehall Street,

Nelson,

Lancashire,

England,

BB9 9JB

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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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