Sold prior guide price: £50,000 - £60,000 ***mixed use investment - one shop currently let and residential accommodation above in need of renovation*** This investment property is ideally located in the heart of Cleveleys centre close to many trading businesses, transport links and The Promenade. Swich is currently let at approx £5000 P/A and the accommodation above has been previously used as a hmo and providing planning is obtained, a further £307.50 pw should be easily achievable creating an additional £15,990 P/A totalling £20,990 P/A - 35% - 42% yield! Whilst requiring full renovation, this property would be ideal for a developer/investor looking to transform and produce a fantastic income. Low maintenance garden to the rear. Please call in advance for viewings. Please note this sale is subject to a buyers premium of £500 + VAT.
Currently let at £5200 P/A Used as a sandwich shop.
Lounge (3.94m (12' 11") x 3.74m (12' 3"))
Kitchenette (1.61m (5' 3") x 1.38m (4' 6"))
Bathroom (2.84m (9' 4") x 2.27m (7' 5"))
Room (3.84m (12' 7") x 4.66m (15' 3"))
En-Suite (1.85m (6' 1") x 2.38m (7' 10"))
Room (6.54m (21' 5") x 4.23m (13' 11"))
Room (4.53m (14' 10") x 3.91m (12' 10"))
Room (3.17m (10' 5") x 2.25m (7' 5"))
Room (3.89m (12' 9") x 4.95m (16' 3"))
Room (3.63m (11' 11") x 6.66m (21' 10"))
Room (3.04m (10' 0") x 3.44m (11' 3"))
Accessed from the travel agents, sandwich shop, and the accommodation. Low maintenance garden and gate to the rear.
Swich is currently let at £5200 P/A and sunseekers is currently let at £8250 P/A generating £13,450 P/A. The accommodation above has been previously used as a hmo and providing planning is obtained, a further £307.50 pw should be easily achievable creating an additional £15,990 P/A totalling £29,440 P/A - 21% - 22.6% yield! ( This yield has been worked out based on a five bed hmo at lha room share rates at £61.50)
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