Ready income with parking, garage and recent conversion close to the seafront.
Freehold block of five one‑bedroom flats, converted and renovated in 2018
Fully tenanted producing £31,320 per annum (11.39% yield at guide price)
Flat 2 has private entrance; off‑street parking and rear garage present
New roof, double glazing, three‑phase electric and new fire alarm installed
Each flat has separate electric and water meters; low‑maintenance vinyl/laminate
Mixed EPCs (D and E) and electric storage heating — higher running costs possible
Being sold at auction — 5% non‑refundable deposit on exchange applies
Reservation fee up to 6% inc VAT (minimum £6,000) payable on sale
This Victorian bay-fronted block of five one‑bedroom flats is a ready-made rental investment in Lytham St Annes (FY8). Fully tenanted and producing £31,320 pa (an advertised 11.39% yield at the guide price), the building is offered freehold and was converted and renovated into separate flats in 2018. Each flat has its own utility meters; three‑phase electric was installed during the conversion and a new fire alarm system has recently been fitted.
Accommodation is arranged over three storeys with mixed D/E EPC ratings, electric storage heating throughout and vinyl/laminate finishes for low maintenance. Flat 2 has a private entrance and benefits from off‑street parking; there is a garage to the rear and communal patio space. The block includes typical period features (bay windows, high ceilings) and external improvements such as a new roof and double glazing.
This lot is being sold at auction via a secure online sale with immediate exchange available for successful bidders. Buyers should be aware of the auction conditions: a non‑refundable 5% deposit on exchange and a reservation fee (up to 6% inc. VAT, minimum £6,000) are payable on agreement. Legal pack and viewing by appointment only are available and prospective purchasers are advised to review the documentation and seek legal advice prior to bidding.
The property sits near the seafront, local shops and transport links and is suited to investors seeking immediate income and minimal landlord works. Note the area shows high deprivation indices locally; EPCs for the flats range from D to E and heating is electric, which may affect operating costs and future tenant demand if energy prices change.