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32-36 Coop Street, Blackpool, FY1 5AJ

Key features

  • Mid terraced block of 9 apartments close to the town centre
  • 7 are let on ASTA's with the remaining 2 privately owned
  • The apartments have been converted to a high standard in 2022
  • Six 2 bedroom and one 1 bedroom apartment
  • Current income around £68,000 pa, gross yield 13.7%

Description

A mid terraced block of 9 apartments located close to Blackpool town centre and the promenade. 7 apartments are let on Assured Shorthold Tenancy Agreements and produce rental income in the region of £67,000 per annum. The remaining 2 apartments have been sold off and produce a combined ground rent of £130 per annum plus a service charge of £375 for each flat per annum. The modern apartments were converted to a high standard in 2022 with the lay out providing six 2 bedroom and one 1 bedroom apartment. Current income circa £68,000 per annum providing a gross yield 13.7%.

LOCATION
Coop street is located off Chapel Street which is opposite Central Pier, close to Blackpool Promenade and the town centre.

GROUND FLOOR
No 32: Flat 1 - Open plan lounge and modern fitted kitchen; 2 bedrooms and a bathroom.
No 34/36 : Flat 1 - Open plan lounge and modern fitted kitchen; 2 bedrooms and a bathroom.
Flat 2 - Open plan lounge and modern fitted kitchen; 2 bedrooms and a bathroom.

FIRST FLOOR
No 32: Flat 2 - Sold off under separate ownership not inspected.
No 34/36: Flat 3 - Open plan lounge and modern fitted kitchen; 2 bedrooms and a bathroom.
Flat 4 - Open plan lounge and modern fitted kitchen; 2 bedrooms and a bathroom.

SECOND FLOOR
No 32: Flat 3 - Sold off under separate ownership not inspected.
No 34/36: Flat 5 - Open plan lounge and modern fitted kitchen; 1 bedroom and a bathroom.
Flat 6 - Open plan lounge and modern fitted kitchen; 2 bedrooms and a bathroom.

EXTERIOR
Rear yard and bin stores.

BUSINESS
Rent Schedule
No 32
Flat 1: £850 per calendar month.
Flat 2: Ground rent £70 per annum, service charge £375 per annum.
Flat 3: Ground rent £65 per annum, service charge £375 per annum.
No 34/36
Flat 1 £850 per calendar month.
Flat 2 £850 per calendar month.
Flat 3 £750 per calendar month.
Flat 4 £800 per calendar month.
Flat 5 £725 per calendar month.
Flat 6 £775 per calendar month.
Total: £5600 pcm. £67,200 per annum plus ground rent and service charge of £885.

SERVICES
No 32 - Electricity and water individual supplies and meters.
No 34/36 - Electricity and water individual supplies and meters.
Individual council tax ratings. Tenants pay all their own bills.

TENURE
Freehold subject to long ground lease on Flats 2 & 3 at No 32 and shorthold tenancies on the remaining.
Separate title to No 32.

NB: Photos taken before the flats were let.

Brochures

Brochure 1
COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
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GARDENA property has access to an outdoor space, which could be private or shared.
Yes
ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Energy performance certificate - ask agent

32-36 Coop Street, Blackpool, FY1 5AJ

Approximate location
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Affordability

Monthly repayments£2,483
Property: £ 495,000
Deposit: £ 49,500
Interest rate: 5.33%
Term: 30 years
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About Kays Peake Properties Ltd, Blackpool

227-229 Church Street, Blackpool, FY1 3PB

Established in 1948 KAYS Commercial Estate Agents have been selling businesses and hotels across the Fylde coast, Blackpool and the surrounding areas of Lytham, St Annes, Thornton Cleveleys, Fleetwood, Kirkham, Garstang and Preston.

As business transfer agents we specialise in the sale and leasing of hotels, guest houses, bed & Breakfast accommodation, cafes, restaurants, retail businesses, self-catering holiday apartments, care businesses together with commercial premises including shops, warehouses, offices and industrial premises.

KAYS have a wide range of experience and expertise in dealing with residential, commercial and mixed use investment properties in Blackpool and the surrounding area. In addition we offer a full management service for landlords from acquisition, disposal, management and maintenance with the aim of maximizing yields and investment returns.

Whether you are looking to buy a business or premises for your own use, a first time investor or a landlord looking to add to your existing portfolio KAYS can offer you a friendly, professional, effective and efficient service.

KAYS also provides a full residential and commercial management service within Blackpool and further surrounding areas. The ultimate goal is to maximise the value of the asset through effective property management strategies which will maximise the long term value of the property. By listening to our clients and their tenants we ensure that we are continually evolving and improving our service.

Meet the team: https://www.kaysestates.co.uk/our-team/

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Disclaimer - Property reference 011753. 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 Kays Peake Properties Ltd, Blackpool. 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.

*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited.
**This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.

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