Marine Road East, Morecambe, LA4 5AQ
£336,000
Business rates & charges may apply
- SIZE
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- SECTOR
Residential development for sale
Key features
- Morecambe promenade
- Walking distance to proposed Eden Project
- Investment opportunity
- All 5 flats fully let generating healthy income
- Present income some £27,205.92 per annum
- Generous rear yard with parking
Description
Location
Morecambe is an extremely popular traditional seaside holiday resort sitting on the eastern shores of Morecambe Bay looking towards the Lakeland Fells.
Preston is located some 28 miles to the south, Lancaster 3 miles to the east and to the north west and north east lie the Lake District and Yorkshire Dales National Parks respectively.
Morecambe is benefitting from ongoing development and regeneration initiatives including the proposed Eden Project North for which a planning application has been submitted and approved but awaits satisfactory funding.
Designed to take into account the ecology of the Bay, Eden Project North will further enhance the tourist and resident attraction of Morecambe, once built, as well as further improve student diversity in conjunction with Lancaster University.
Description
Investment Opportunity - Block of Five Flats on Morecambe Seafront
An excellent opportunity to acquire a fully income-producing investment property occupying a prime position on Morecambe's sought-after seafront. The property comprises a substantial traditional five-storey mid-terraced residence that has been converted into five self-contained flats, all currently fully let and generating a combined annual income of approximately £27,205.92 per annum, reflecting a gross yield of around 8.11%.
The building occupies a highly desirable location close to the iconic Morecambe Town Hall and benefits from stunning elevated views across Morecambe Bay towards the Lakeland Fells. The flats enjoy attractive features including deep uPVC double-glazed bay windows and storage heating, enhancing tenant appeal and long-term rental demand.
The property has operated successfully as a residential investment for a number of years and offers a rare opportunity to secure a substantial seafront asset within a strong rental location. Overall, this represents an ideal investment purchase with established income, excellent views, and future growth potential within one of Morecambe's most desirable coastal settings.
Accommodation Text
The property comprises a block of five flats, including a two-bedroom basement flat benefitting from its own yard area and parking provision. Within the main building are five one-bedroom flats, together with a separate landlord's storage room equipped with its own WC and shower facilities, providing useful ancillary accommodation for management or maintenance purposes.
A number of the flats have been finished to a good standard and include modern shower facilities and double bedrooms, creating comfortable and attractive accommodation for tenants. While some units offer scope for further modernisation, the property benefits from established and content tenants, allowing any improvement programme to be undertaken gradually over time if desired.
Services
Flat 1 - Mains water, Electric and gas connected
Flat 2 - Mains water and Electric connected
Flat 3 - Mains water and Electric connected
Flat 4 - Mains water and Electric connected
Flat 5 - Mains water and Electric connected, electrics connected through landlords supply, separate payment meter connected for recharge
EPC Information
Flat 1 - D
Flat 2 - E
Flat 3 - E
Flat 4 - D
Flat 5 - E
Lease Terms
ASTs agreed on all flats, with some being in place for many years.
VAT
All prices quoted are exclusive of VAT but may be liable. Property not registered for VAT.
Morecambe is an extremely popular traditional seaside holiday resort sitting on the eastern shores of Morecambe Bay looking towards the Lakeland Fells.
Preston is located some 28 miles to the south, Lancaster 3 miles to the east and to the north west and north east lie the Lake District and Yorkshire Dales National Parks respectively.
Morecambe is benefitting from ongoing development and regeneration initiatives including the proposed Eden Project North for which a planning application has been submitted and approved but awaits satisfactory funding.
Designed to take into account the ecology of the Bay, Eden Project North will further enhance the tourist and resident attraction of Morecambe, once built, as well as further improve student diversity in conjunction with Lancaster University.
Description
Investment Opportunity - Block of Five Flats on Morecambe Seafront
An excellent opportunity to acquire a fully income-producing investment property occupying a prime position on Morecambe's sought-after seafront. The property comprises a substantial traditional five-storey mid-terraced residence that has been converted into five self-contained flats, all currently fully let and generating a combined annual income of approximately £27,205.92 per annum, reflecting a gross yield of around 8.11%.
The building occupies a highly desirable location close to the iconic Morecambe Town Hall and benefits from stunning elevated views across Morecambe Bay towards the Lakeland Fells. The flats enjoy attractive features including deep uPVC double-glazed bay windows and storage heating, enhancing tenant appeal and long-term rental demand.
The property has operated successfully as a residential investment for a number of years and offers a rare opportunity to secure a substantial seafront asset within a strong rental location. Overall, this represents an ideal investment purchase with established income, excellent views, and future growth potential within one of Morecambe's most desirable coastal settings.
Accommodation Text
The property comprises a block of five flats, including a two-bedroom basement flat benefitting from its own yard area and parking provision. Within the main building are five one-bedroom flats, together with a separate landlord's storage room equipped with its own WC and shower facilities, providing useful ancillary accommodation for management or maintenance purposes.
A number of the flats have been finished to a good standard and include modern shower facilities and double bedrooms, creating comfortable and attractive accommodation for tenants. While some units offer scope for further modernisation, the property benefits from established and content tenants, allowing any improvement programme to be undertaken gradually over time if desired.
Services
Flat 1 - Mains water, Electric and gas connected
Flat 2 - Mains water and Electric connected
Flat 3 - Mains water and Electric connected
Flat 4 - Mains water and Electric connected
Flat 5 - Mains water and Electric connected, electrics connected through landlords supply, separate payment meter connected for recharge
EPC Information
Flat 1 - D
Flat 2 - E
Flat 3 - E
Flat 4 - D
Flat 5 - E
Lease Terms
ASTs agreed on all flats, with some being in place for many years.
VAT
All prices quoted are exclusive of VAT but may be liable. Property not registered for VAT.
Brochures
Marine Road East, Morecambe, LA4 5AQ
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Morecambe Station0.6 miles
- Bare Lane Station0.9 miles
- Lancaster Station2.8 miles
Notes
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