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COMMERCIAL

Adelphi Place, Preston, Lancashire, PR1

Fixed Price
£875,000
Kingswood, Fulwood
PROPERTY TYPE

Commercial Property

BATHROOMS

1

SIZE

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Key features

  • For Sale
  • Two floors
  • Rental Income Producing (Great Yields)
  • Parking
  • Viewing is a Must
  • Great Investment

Description

FIXED PRICE - priced as below market value

Adelphi Court, Adelphi Place, Preston, PR1 7BU

36 Bedsit rooms, each with own mini kitchenette

Fully licenced

Fully occupied

3 block split

Location

Positioned in the popular area of Preston this really is an opportunity not to be missed. Literally on the doorsteps of UCLAN and all other amenities this is a really busy area.

Description

The premises have 36 rooms, split in 3 blocks, with all rooms including a kitchenette,

Shared shower rooms, bathroom, W/C, courtyard and off street parking.

The property benefits from three blocks of twelve apartments. Each apartment has its own fitted kitchen along with a selection of bedroom furniture.

There are toilets and shower rooms to share on each floor.

Currently this property is being let and is has full occupancy with bills and Internet all included in the monthly rent.

the property has been rented as it is for the last 15 years and we are informed by the vendors they do not advertise for new tenants as all enquiries are by word of mouth from friends and family of other tenants.

The boilers are situated behind A block (first block on your left if stood facing Adelphi Court car park)

There are 2 boilers which were installed in Dec 2014 and is tested annually.

The red round Alarms are the sirens for the fire alarm.

There are smokes (white) in the corridors and heats in each Flat and

Fire blanket are tested twice a year and

we have certificates to see on request.

The existing building forming A and B block was converted into these flat in 1987 and C blocked was added also in this year.

BLOCK A (26-37)

12 bedsits

2 floors

4 toilets / shower rooms with toilet

Licence number: TBC

Expiry date: TBC

BLOCK B (38-49)

12 bedsits

2 floors

4 toilets / shower rooms with toilet

Licence number: HMO0330

Expiry date: 16/11/2026

BLOCK C (50-61)

12 bedsits

2 floors

4 toilets / shower rooms with toilet

Licence number: TBC

Expiry date: TBC

Price

fixed at £875,000

this has been priced according to its income, reasons for sale, condition

we are advised to only consider serious buyers with possibly proof of funds prior to viewings

and we are advised that the price is fixed and no low ball / cheeky offers will be considered

this has been priced for a quick sale

with its current income we believe this is below market value.

FREEHOLD

EPC C expires 8 February 2032

CTAX D to be confirmed (the 3 blocks are individually council taxed)

Income

current

34 bedsits are £340 pcm

2 bedsits are £400 pcm

total £12,360 per month

total £148,320 per annum currently on target

expenses estimate In the region of £44,000 according to figures given

2023-2024 (extract from profit and loss accounts information)

total £130,290 according to figures given

expenses in the region of £41,000 according to figures given

2022-2023 (extract from profit and loss accounts information)

total £121,700 according to figures given

expenses in the region of £39,000 according to figures given

2021-2022 (extract from profit and loss accounts information)

total £108,535 according to figures given

expenses in the region of £33,000 according to figures given

Potential

this property has great potential

rent can be increased

parking spaces can be rented out

Refurbishment

the property has been in the current condition for 15 years

it has been rented out successfully without any issues

accounts can provide evidence of its income of the years

a new owners mindset is key to making a continuous success of this property

it can be left as it is and still bring it staggering income ( if its not broke, don't fix it attitude)

or

refurbishment works can be injected into this building and possibly create a new rental incomes

however for clarity looking at the purchase price against cost this property is producing a very healthy yield as it stands and as its been.

Viewings:

Strictly through Kingswood on an appointment basis only.

Please contact Kingswood on

Fulwood Office: , 77 Watling Street Road, Fulwood, Preston, PR2 8EA

Preston City Centre Office: , Unit 8, Fishergate, Preston, PR1 2NJ





Disclaimer:

These particulars, whilst believed to be correct, do not form any part of an offer or contract. Intending purchasers should not rely on them as statements or representation of fact. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. All measurements quoted are approximate. Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract

Energy Performance Certificates

EPC Graph

Adelphi Place, Preston, Lancashire, PR1

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Preston Station0.5 miles
  • Lostock Hall Station2.8 miles
  • Bamber Bridge Station3.1 miles
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About Kingswood, Fulwood

77 Watling Street Road, Fulwood, PR2 8EA
Industry affiliations:
WELCOME TO KINGSWOOD ESTATE AGENTS

  • Kingswood understands the unique pressures of living and working in this busy and vibrant city and we are committed to delivering positive results for our Landlords, Tenants and those wishing to sell their property. Everything we do says something about the type of company we are-from the moment you walk through our office door to the moment your property is sold. We specialise in property management and lettings so that Landlords with properties to let can be assured of a responsive and caring service. Our detailed local knowledge enables us to concentrate on providing you with a bespoke personal service. Kingswood have an extensive selection of rental properties to suit every requirement, from studio flats to family homes.

You chose to live in Preston for its cultural richness, numerous studying, work and business opportunities and exciting city life. Soon, however, you're going to experience the stress of having to find the right place for you - especially with so many other people crowding to claim the best spots as their own. As Kingswood estate agents Preston we understand how burdensome this can be. We thus commit to offering the best services to landlords and tenants, as well as to those selling their property.

The massive redevelopment Preston has been undergoing has led to many changes in the housing department. With the 6th biggest university in the country, the city is also pressured to provide new houses for sale in Preston for its thousands of students. We've catered to every category, so that our clients can eventually pick a new home that suits their lifestyle and their needs. Moreover, it will suit their budget as desired, so they can easily save more money and accomplish what they've wanted to.

We are those letting agents Preston inhabitants come to, because they have sampled our professionalism and great care to their needs. Our letting specialists make sure to not just fill a house or room with tenants, but also to match these with the right property and landlords. It is a relationship that goes both ways and we ignore none.

Kingswood estate agents Preston also offers property valuation services and all that is needed in order to assess the true value of a place and match it accordingly. Contact our responsive team to find out more about the available properties, new build homes in Preston, student flats in Preston or the specific kind you are looking for. Whether you are looking for a family home, for student housing or an executive apartment, make your requirements known and we will ensure a bespoke service. Call us when in need of relocation assistance - even if it's at a short notice.

With a reputation built on expertise, local knowledge and customer care, Kingswood is widely experienced in selling, letting and managing both residential and commercial property. With offices in Fulwood and in the heart of Preston City Centre, Kingswood has gone on to become one of Preston's leading Estate Agents. With more than a decade of experience in the market, Kingswood is here for you, be it selling or renting, our abilities speak for themselves.

Kingswood's experience with appraisals, surveys, and valuations, conveyancing, selling and renting all combine to mean that there will be no property-related question that we cannot answer. Our staff are experienced in virtually every field of property whether it be residential or commercial.

We are constantly evolving to provide a modern, proactive service. We can provide floor plans, video and audio walkthroughs utilising current technology to help you sell or rent your property. We advertise on the UK's largest property portals including Rightmove to ensure the widest possible audience for your property. We're always looking for fresh and innovative ideas and ways to optimise the exposure that your property receives.

Our staff are constantly undergoing training to provide the highest levels of customer support and service, making Kingswood a forward-thinking modern Estate Agent. Our staff are incentivised to ensure that they work as hard as possible for you and for your property. Whether you are a Landlord with a property to let, or if you are looking for a property to buy or sell, you can be assured of a responsive and caring service from Kingswood. We recognise that all clients have individual needs and tailor our services accordingly.

No matter if you are buying or renting through Kingswood, you can hand your property over to us safe in the knowledge that you are working alongside a well-established and reputable company who use the latest technology to make your property work for you.

Notes

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Disclaimer - Property reference 8079. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Kingswood, Fulwood. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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