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Blackpool, Lancashire, FY1 XXX

6 Bedroom Mid-Terrace

An opportunity to buy from a landlord looking for a quick disposal of two adjoining properties. Prior to being converted into a hotel approximately 25 years ago, the property was built as two separate houses. The vendor subsequently converted them back into two 6-bed properties (one of which he lives in and the other is rented for £800 per calendar month). Both properties benefit from rewiring, replastering, double glazing and doors and the relevant build regulations approvals can be forwarded to interested parties. It is our belief that the properties may require some basic cosmetic upgrading. Our open market valuation is arguably conservative as we have in our possession a Kent Reliance instructed survey dating back to January 2015 indicating that the property 's value is in the region of £125,000.

  • Purchase Price:
    £75,000.00
  • Deposit (75% LTV):
    £18,750.00
  • Estimated Market Value:
    £100,000.00
  • Estimated Below Market Value:
    25.00%
  • Monthly Rental Figure:
    £800.00
  • Gross Yield:
    12.80%
  • Mortgage Figure (@ 3.35% Payrate*):
    £157.03
  • Monthly Service Charge:
    £0.00
  • Monthly Ground Rent:
    £0.00
  • Estimated Total Monthly Holding Costs:
    £447.45
  • Estimated Monthly Net Operating Income (NOI):
    £352.55
  • Estimated Net Yield (Pre Tax):
    5.64%
  • Estimated ROCE (Annual Net Operating Income / Deposit):
    22.56%
  • Estimated Annual Capital Growth Expectation:
    1-2%
  • Stamp Duty Charge:
    £2,250.00
  • Buyer's Legal Fees:
    £500.00
  • Seller's Legal Fees:
    £500.00
  • Lender's Legal Fees:
    £250.00
  • Estimated Refurbishment Costs:
    £1,500.00
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  • Wikipedia Link:
  • Local Authority Website:

* Average rate of the top 8 Limited Company (SPV) buy-to-let mortgages (based on a purchase price of £100,000 / £75,000 loan / 25-year term and therefore not the financing terms of this transaction). See our monthly factfiles for the latest figures.

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February 2018

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