391, 393, 395, 397, 401 Central Drive & 88-90 & 92 Bloomfield Road, Blackpool, Lancashire

Description

This mixed-use investment property occupies a prime trading location on the corner of the main arterial routes of Central Drive and Bloomfield Road. The location benefits from a wealth of passing vehicle and pedestrian trade. It occupies a highly visible position which is ideal for the businesses in occupation. The surrounding areas comprise of dense residential areas. Ease of access is available to Blackpool Football Stadium and complex, local tourist attractions and the promenade.

Accommodation

1 tenanted mixed-use unit comprising a convenience store, first and second floor storage, previously used as accommodation; 5 additional commercial units to the ground floor; 1 tenanted large residential flat spanning the whole of the first floor, Flat No. 92; 1 vacant one-bedroom flat over two storeys; external forecourt/car parking area fronting onto Bloomfield Road; 3 additional smaller yard areas for other parts of the building.

Location

Prime trading location on the corner of Central Drive and Bloomfield Road, with passing vehicle and pedestrian trade, dense surrounding residential areas, and access to Blackpool Football Stadium and complex, local tourist attractions and the promenade.

Tenure / Property Information

Investment Analysis

The £180,000+ guide is below the supplied £200,000 completed sale for 391 Central Drive, but that comparable is not sufficiently described to confirm it represents the whole subject property. Other Central Drive sales range from £75,000 to £145,000 and are materially different property types or sizes. The subject comprises multiple commercial units, two residential flats, external areas and mixed occupancy, but there is insufficient evidence to establish a reliable GDV or formal market value. The £43,000+ annual auctioneer rent estimate supports an indicative gross income only and is not confirmed passing rent.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, leases, rent schedule, vacant-unit condition and special conditions. Treat the £43,000 figure as an unverified income estimate; do not bid on yield or refinance assumptions until the income and unit configuration are independently confirmed.

Works Required

No specific defects or condition issues are supplied. Obtain a full building and services survey, inspect the vacant one-bedroom flat and all commercial/residential units, and verify the condition and legality of the existing layouts, storage and external areas before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably because GDV, refurbishment costs, tenancy documentation and finance assumptions are unavailable. The 75% refinance value cannot be calculated without a supported GDV. The buyer premium is 2.4% including VAT, subject to a £3,600 minimum; at the guide this is £4,320, before any additional special-condition fees.

Buy-to-Let Analysis

The auctioneer estimates rent of £43,000+ per annum, equivalent to approximately £3,583 pcm, producing an indicative 23.89% gross yield against the £180,000 guide. This is not a confirmed passing rent, and no sufficiently specific rental comparables, leases, tenancy details, operating costs or void assumptions are supplied. Net yield and sustainable income cannot therefore be established.

Flip Analysis

A flip appraisal is not supported by the evidence. The property is a complex mixed-use asset with multiple units and part vacancy, while condition, refurbishment cost, resale costs and a reliable whole-property GDV are unknown. The £200,000 sale at 391 Central Drive is not sufficient on its own to establish resale value for the complete subject property.

Investor Risks & Due Diligence

• The £43,000+ annual rent is an auctioneer estimate rather than confirmed passing rent.

• Part of the property is vacant, including a one-bedroom flat, creating letting and void risk.

• No leases, tenancy terms, rent schedule or occupational cost information are supplied.

• Condition, repair requirements and refurbishment costs are unknown.

• The mixed-use configuration and previously used accommodation require legal, planning and building-regulation verification.

• Additional fees may be stated in the Special Conditions of Sale and are not quantified.

• The supplied comparable evidence does not establish a reliable value for the entire multi-unit property.

Recommendation

Proceed only after reviewing the legal pack, leases, rent schedule, vacant-unit condition and special conditions. Treat the £43,000 figure as an unverified income estimate; do not bid on yield or refinance assumptions until the income and unit configuration are independently confirmed.

Strategy Rating

Analysis Confidence

The evidence includes a guide price, one auctioneer income estimate and several local completed sales, but lacks leases, passing rents, condition information, EPCs, operating costs, GDV evidence and full fee details.