Summary - Flat 6, 8 Cocker Street, BLACKPOOL FY1 1SF
1 bed 1 bath Block of Apartments
Six one-bed flats by the Promenade — steady income but needs refurbishment in a high-crime area..
- Six one-bedroom self-contained flats producing £27,740 gross pa
- Freehold building with Certificate of Lawful Use (15/9/2014)
- Prepaid electricity sub-meters for each flat
- Mix of EPCs D and E; building is energy inefficient
- Requires modernisation and refurbishment throughout
- Located off the Promenade, close to train station
- Very high local crime and very deprived area
- Slow broadband; mobile signal excellent
A substantial Victorian terraced building arranged as six self-contained one-bedroom flats, offered as a freehold investment close to Blackpool Promenade and the train station. The block produces a gross rental income of £27,740 per annum from confirmed monthly rents and benefits from prepaid electricity sub-meters and individual council tax accounts.
The property has clear income fundamentals: six separate tenancies, a Certificate of Lawful Use (15/9/2014) confirming residential use, and a mix of EPC ratings (D and E). Practical advantages include cellar storage, a walled front garden, and a rear yard accessed via Flat 2. Mobile signal is excellent, which helps tenant connectivity in spite of slow broadband provision.
Material drawbacks are honest and significant. The building needs refurbishment and modernisation throughout; EPCs of D and E indicate energy inefficiency. The area is classified as very deprived with very high crime levels and a wider classification of hampered aspiration, which will affect tenant profiles, demand characteristics and potentially insurance and management costs. Broadband speeds are slow.
This block is most suited to investors seeking immediate rental income with clear scope to add value through targeted refurbishment, energy upgrades and management enhancements. Buyers should allow for renovation costs, ongoing management in a high-crime urban location, and the implications of the local market when assessing yield and exit plans.
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