154 Central Drive & 1A & 2A Belmont Avenue, Blackpool, Lancashire, FY1 5EA

Description

A mixed use corner building comprising a ground floor commercial unit and two self-contained flats to the rear, comprising one four-bedroom flat and one one-bedroom flat. Part let producing £13,100 per annum. The vacant flat is let on a short-term basis generating an income of approximately £34,000 per annum.

Accommodation

154 Central Drive Ground Floor: Lock-Up Shop. 1A Belmont Avenue Ground Floor: Reception Room, Bedroom with En-Suite, Kitchen. 2A Belmont Avenue Ground Floor: Reception Room, Kitchen. 2A Belmont Avenue First Floor: Four Bedrooms, one with En-Suite.

Location

The property is situated in the heart of Blackpool within walking distance of the town centre and the beach. Transport links are provided by Blackpool North and Blackpool South rail stations.

Tenure / Property Information

Investment Analysis

Recent completed sales of the same property were £203,000 in 2024 and £205,000 in 2023. Nearby Central Drive sales were £140,000, but are less directly comparable. A base GDV of £205,000 is supported, although condition and legal details are incomplete.

Investment Snapshot

Strategy Recommendation

Income-led hold may be preferable to flipping, subject to verifying the holiday-let income, tenancies, condition and legal pack.

Works Required

No specific refurbishment works are evidenced. Verify condition, compliance, EPC information and the legal pack before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £205,000 base GDV, 75% refinancing equates to £153,750. Cash required cannot be established because refurbishment costs, disbursements and other acquisition costs are unknown.

Buy-to-Let Analysis

Reported income is £13,100 per annum from the commercial unit and Flat 2A, plus approximately £34,000 per annum from the holiday let. This indicates £47,100 annual gross income and a 22.43% gross yield against the £210,000 guide, but holiday income is approximate and no external rental comparables or operating costs are supplied.

Flip Analysis

The supported GDV range is limited to the same-property sales of £203,000 and £205,000. A flip surplus cannot be calculated because works, selling costs and full acquisition costs are unavailable.

Investor Risks & Due Diligence

• Holiday-let income is approximate and may not be sustained.

• The commercial unit and Flat 2A are occupied under stated lease or tenancy arrangements requiring verification.

• No condition or refurbishment cost evidence is supplied.

• Buyer disbursements, searches, seller costs, legal fees and transfer fees may be payable.

• No external rental comparables or operating-cost information is supplied.

Recommendation

Income-led hold may be preferable to flipping, subject to verifying the holiday-let income, tenancies, condition and legal pack.

Strategy Rating

Analysis Confidence

Direct completed sales and stated income are available, but refurbishment costs, operating costs, EPC details, tenancy terms and purchaser disbursements are incomplete.