Building r/o 39-41, Caroline Street, BLACKPOOL, Lancashire, FY1 5BU

Description

The property comprises a two-floor building and land located to the rear of 39-41 Caroline Street, sold on a long lease creating a ground rent investment opportunity. The use of the building is Class B8 of the Town and Country Planning. Ground rent reserved: £1,000 per annum.

Accommodation

Two-floor building and land.

Location

Located to the rear of 39-41 Caroline Street, Blackpool, Lancashire, FY1 5BU.

Tenure / Property Information

Investment Analysis

The evidence describes a two-floor Class B8 building and land subject to a 999-year lease, with a stated ground rent of £1,000 per annum. No completed sales, formal valuation, EPC, detailed lease information or condition evidence is supplied. The stated tenure is leasehold despite the description referring to a freehold ground-rent investment, so the legal nature and whether the £1,000 is income receivable or a liability require confirmation. At the £5,000 guide, the stated £1,000 annual ground rent equates to 20.00% before costs, assuming it is income to the purchaser. The £1,800 contract documentation fee reduces this to approximately 14.71% before any other seller or transaction costs.

Investment Snapshot

Strategy Recommendation

Treat as a specialist ground-rent investment only if the legal pack confirms the purchaser receives the £1,000 annual rent, establishes the lease structure and identifies no material repair, compliance or seller charges. Do not rely on residential BTL or BRRR assumptions.

Works Required

No refurbishment works are specified. Confirm the building's condition, services, access, compliance and any repair obligations through the legal pack and inspection before bidding.

Rental & Market Context

Potential BRRR Position

BRRR is not supportable from the evidence. No residential use, refurbishment budget, GDV, mortgage valuation or refinance terms are supplied. The leasehold/freehold description is internally inconsistent and must be resolved before considering refinance.

Buy-to-Let Analysis

This is not evidenced as a residential buy-to-let opportunity: the stated planning use is Class B8 and no residential accommodation or passing residential rent is supplied. The £1,000 annual ground rent is the only quantified income figure and produces a 20.00% gross return on the £5,000 guide, or approximately 14.71% including the known £1,800 documentation fee, assuming the purchaser receives it. The lease and legal documentation must confirm the income position and all liabilities.

Flip Analysis

A flip analysis cannot be completed because there are no comparable sales, GDV evidence, condition assessment, works budget or supported selling-cost allowance. The stated Class B8 use may also limit the buyer pool and resale strategy.

Investor Risks & Due Diligence

• Lease information is awaited and the stated leasehold tenure conflicts with the description of a freehold ground-rent investment.

• It is unclear from the supplied evidence whether the £1,000 ground rent is income receivable by the purchaser or a payment obligation.

• The building is stated to have Class B8 use; residential letting assumptions are unsupported.

• Additional seller fees may be payable under the special conditions of sale.

• No condition, compliance, services, access or repair information is supplied.

• No EPC, completed sales evidence or formal market valuation is supplied.

Recommendation

Treat as a specialist ground-rent investment only if the legal pack confirms the purchaser receives the £1,000 annual rent, establishes the lease structure and identifies no material repair, compliance or seller charges. Do not rely on residential BTL or BRRR assumptions.

Strategy Rating

Analysis Confidence

The guide price, stated ground rent, lease term and known documentation fee are supplied, but lease information is awaited, tenure and ownership wording conflict, and there are no comparables, condition details, EPC, formal valuation or full fee schedule.