Land on the North Side, of 72 Hornby Road, Blackpool, Lancashire FY1 4QJ

Description

Three Storey Warehouse/Storage Premises – Totalling Approx 2,344 sqft / 217 m2. The unit is located adjacent to Blackpool Town Centre to the rear of Hornby Road, accessed off Hornby Road or via Fleet Street / Westwell Grove (via Charnley Road). Ideally situated for storage uses. This is a substantial warehouse / storage premises spread over three floors with dividing brick walls internally separating the left- and right-hand sides to the ground and first floor. The unit has an entrance door to the left-hand side and roller shutter access to the right-hand side. There is a gated side access to an external yard area. The building benefits from both electric and water supplies.

Accommodation

Ground Floor: Left Hand Side entry door into small vestibule with access to meters and stairs to first floor; Left Hand Side approx. 8.8m x 4.7m; Rear Storage 4.7m x 2.9m; Right Hand Side approx. 8.8m x 5.7m; Right Hand Side roller shutter access to open plan area. First Floor: Left Hand Side approx. 8.8m x 4.7m; Rear Storage 4.7m x 2.7m; Right Hand Side approx. 8.8m x 5.7m. Second Floor: Storage approx. 9.2m x 3.0m; WC. External: Gated yard area approx. 25 sq ft. Total: approx. 2,344 sq ft / 217 sq m.

Location

Located adjacent to Blackpool Town Centre to the rear of Hornby Road, accessed off Hornby Road or via Fleet Street / Westwell Grove via Charnley Road.

Tenure / Property Information

Investment Analysis

The available evidence comprises five completed freehold sales on Hornby Road, including the same property at £170,000 on 28 September 2022. Nearby sales range from £126,500 to £155,000, with the most recent relevant evidence being £137,500 for 62 Hornby Road in April 2024 and £155,000 for 67 Hornby Road in January 2024. These comparables are not fully specific because property types and condition are not provided. An indicative base GDV of £155,000 is adopted, with a low scenario of £137,500 and high scenario of £170,000. No formal valuation, current condition assessment or commercial rental evidence is supplied.

Investment Snapshot

Strategy Recommendation

Do not underwrite on yield or flip profit until the legal pack, condition, access, permitted use, title matters, rental evidence and full cost schedule are verified. The guide offers apparent value against supplied sales evidence, but a firm bid limit is not supportable from the available data.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain and review the legal pack and inspect the warehouse, including the three floors, roller shutter, gated yard, electric and water supplies, stairs, WC and internal dividing walls. Any works budget remains unsupported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £75,000 guide, the stated buyer administration charge would be £3,600 including VAT because the 2.75% calculation is below the minimum. A 75% refinance against the £155,000 base GDV would be approximately £116,250, but total project cost cannot be calculated because works, finance, legal, valuation and other completion costs are unsupported. Refinance viability therefore remains unproven.

Buy-to-Let Analysis

Commercial rental evidence is absent and the auctioneer has supplied no rent estimate, so rent, yield and debt-service performance cannot be established. The premises may suit storage use according to the description, but achievable rent, demand, lease terms, business rates, insurance and operating costs require separate verification.

Flip Analysis

The evidence supports an indicative GDV range of £137,500 to £170,000, with a £155,000 base case. A flip surplus cannot be calculated because refurbishment costs and selling allowances are not supplied. The apparent gross spread over the £75,000 guide does not represent profit and must also absorb fees, works, finance, tax and resale costs.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• Condition and required works are not evidenced, preventing a reliable total project cost.

• The comparable sales include differing property types and may not be directly comparable with this warehouse.

• Access, title, permitted use, rights and restrictions require legal-pack verification.

• Buyer administration charge is subject to a £3,600 minimum, with possible additional disbursements, seller costs, legal fees, transfer fees and buyer premium.

• The building has multiple floors and internal divisions, which may affect usability and letting flexibility.

Recommendation

Do not underwrite on yield or flip profit until the legal pack, condition, access, permitted use, title matters, rental evidence and full cost schedule are verified. The guide offers apparent value against supplied sales evidence, but a firm bid limit is not supportable from the available data.

Strategy Rating

Analysis Confidence

There is useful completed-sale evidence, including a prior sale of the same property, but no condition report, rental evidence, EPC, council-tax/business-rates information, legal-pack findings, works budget or full acquisition-cost schedule.