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.

Viewing STRICTLY BY PRIOR TELEPHONE APPOINTMENT THROUGH OUR OFFICE.