29-31 Cookson Street, Blackpool, Lancashire, FY1 3EA

Description

A long leasehold two-bedroom flat arranged over the first and second floors in a central Blackpool location. The property is suitable for owner occupation, private rental or investment purposes, subject to necessary consents, and requires refurbishment throughout.

Accommodation

First floor: entrance hallway, kitchen, reception room and shower room. Second floor: two bedrooms, one with an en-suite bathroom. The property requires refurbishment throughout.

Location

Located on Cookson Street within close proximity of Blackpool Town Centre and local amenities, including shops, cafés, restaurants, bars and everyday amenities. Blackpool's seafront, Blackpool Tower, Winter Gardens and North Pier are within convenient reach. Blackpool North railway station and local bus services are nearby. Road links include the A586 and A584.

Tenure / Property Information

Investment Analysis

The £35,000 guide is the only supplied purchase evidence. No completed sales, GDV evidence, refurbishment budget or sufficiently specific rental comparables were supplied, so market value and resale value cannot be independently estimated. The auctioneer’s £550 pcm figure is an estimate rather than achieved rent.

Investment Snapshot

Strategy Recommendation

Treat as a potential low-cost BTL only if inspection, legal review, refurbishment quotations and local rent verification support the figures. Do not rely on the guide price or auctioneer rent estimate alone.

Works Required

Refurbishment throughout, as stated in the particulars. The precise scope and cost require inspection, contractor quotations and review of the legal pack; no specific defects are evidenced.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed because no refurbishment budget, GDV, comparable sales or refinance valuation evidence is supplied. The 999-year lease is a positive tenure feature, but legal pack review and verification of consents remain necessary.

Buy-to-Let Analysis

At the £35,000 guide, the auctioneer’s estimated £550 pcm rent implies approximately £6,600 annual gross rent and an indicative gross yield of 18.9% before refurbishment, finance, management, voids, maintenance, tax and auction costs. No achieved rental evidence or total-cost yield can be established.

Flip Analysis

A flip surplus cannot be calculated because no GDV, refurbishment allowance, buyer premium, administration costs or supported selling allowance is supplied. Refurbishment throughout creates material cost uncertainty.

Investor Risks & Due Diligence

• Requires refurbishment throughout, with no costed scope supplied.

• The £550 pcm rent is an auctioneer estimate rather than achieved rent and there is no sufficiently specific external rental comparable.

• Buyer Premium and potentially additional fees apply, but amounts are not supplied.

• No completed-sale evidence or GDV support is available.

• Leasehold legal terms, service charges, ground rent and required consents are not supplied.

• Gross yield calculations exclude refurbishment, finance, management, voids, maintenance, tax and auction costs.

Recommendation

Treat as a potential low-cost BTL only if inspection, legal review, refurbishment quotations and local rent verification support the figures. Do not rely on the guide price or auctioneer rent estimate alone.

Strategy Rating

Analysis Confidence

The property description, tenure, guide price and auctioneer rent estimate are supplied, but there are no sales comparables, detailed condition assessment, works budget, buyer premium, administration costs or achieved rental comparables.