Sandridge Flats, 420-422 Promenade, Blackpool, FY1 2LB

Flat in Blackpool, 20 bedroom(s), 0 bathroom(s). Located in FY1 2LB. For sale: £1,100,000. SUMMARY * Opportunity to acquire a coastal residential block comprising 20 self-contained flats, with income producing and further reversionary upside through ongoing refurbishment, rent repositioning and lease-up of vacant units. LOCATION * Sandridge Flats occupies a prominent position on Blackpool Promenade, a strong beachfront location within walking distance of local amenities, transport links and the wider seafront leisure offer. * Blackpool remains one of the North West's most recognisable coastal rental markets, supported by a broad tenant base and continued demand for affordable, well-located apartments close to the promenade. DESCRIPTION * The property comprises 20 flats in total, arranged across ground, first and second floors extending to approximately 7,900 SqFt (NIA). * Currently 18 of the flats are let with two flats undergoing refurbishment are generating £118,272 per annum. * The 20 apartments have an estimate market rental value of approximately £149,220 per annum. * Outgoings are modest at approximately £7,392.86 per annum, including insurance, agency fees, communal electricity. The flats have generally been improved, with only Flat 5 remaining unmodernised and some further works ongoing. * The building has three parking spaces and benefits from a simple, low-complexity operating structure, with tenants paying their own utility bills. TERMS * The Property is not elect for VAT. * The property is offered freehold. * Offers in excess of £1,100,000.

Price: £1,100,000.00

Location: Blackpool, FY1 2LB

Published by John Milne on OmniList.