Thornton-Cleveleys, FY5 1LX | Investment Property for Sale | VES-FY5-001

Opportunity to purchase a 13 unit block in Thornton-Cleveleys generating a gross yield of 7.8%

£875,000

13-unit block

VES-FY5-001

INITIAL INVESTMENT

£390,750

GROSS RENT / YIELD

£68,120 / 7.8%

NET RENT / YIELD

£52,321 / 6.0%

ADD TO FAVOURITES

Long-term tenant

Tenants that stay for long periods feel they have a stake in the property and are more likely to treat it as though it was theirs.

Benefits include:

  • Steady income
  • Minimised wear and tear
  • Fewer void periods

The block

TENURE

Freehold

NO OF UNITS

13

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

6,910

PRICE SQ FT

£127

This is a fantastic opportunity to purchase a 13 unit block.

Property information

  • 3 adjoined freehold buildings consisting of 13 units:
    • 3 x 2-beds
    • 10 x 1-beds
  • Fully let
  • Combined size: 6,910 square feet
  • The vendor is amenable to sell individual blocks but not individual apartments
  • The apartments are currently not on individual leasehold titles, providing the potential for any future landlord to split them and increase the value.

Tenancy information

There are several long-term tenants living in the block, one has been in situ for 20 years, making this is a great opportunity for any investor looking for a long-term investment.

Due to long tenancies, some of the rents have not been increased over the years, providing potential for better yields in future.

Block 1

  • Fully let
  • 3 x 1-bed apartments
  • 1,571 square feet
  • Monthly rental income £1,256.67
  • Asking price £200,000
  • EPCs available upon request

Block 2

  • Fully let
  • 2 x 1-bed apartments
  • 1 x 2-bed apartment
  • 1,711 square feet
  • Monthly rental income £1,386.67
  • Asking price £200,000
  • EPCs available upon request

Block 3

  • Fully let
  • 5 x 1-bed apartments
  • 2 x 2-bed apartments
  • 3,628 square feet
  • Monthly rental income £3,033.33
  • Asking price £475,000
  • EPCs available upon request

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

£68,120

Equivalent of £5,677 per calendar month (PCM).

GROSS RENTAL YIELD

7.8%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£52,321

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

6.0%

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

FULLY MANAGED OPERATING COSTS

£15,799

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.

Anchorsholme Lane West,

Blackpool,

Thornton-Cleveleys,

Blackpool,

England,

FY5 1LX

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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.

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