Summary - Flat A, 5 Quay Street LA12 9AT
5 bed 4 bath Apartment
Turnkey, fully occupied four-flat freehold with an advised 8% yield and modern boilers.
Freehold four-flat building with 14 years continuous occupancy
This freehold, four-flat building on Quay Street is presented as a turnkey rental investment in a prominent Ulverston location. Converted by the original developer in the early 2000s and maintained to a high standard, the block is offered fully occupied with a 14‑year letting history and an advised 8% gross rental yield. Modern Vaillant boilers and double glazing (install dates unknown) reduce immediate capital expenditure for heating and insulation.
Layout and fabric suit a professional tenant market: two ground‑floor one‑bed flats, a first‑floor two‑bed, and a large top‑floor flat with generous reception rooms and views toward Hoad Monument. Useful ancillary space includes substantial cellars used for landlord storage, a timber external storage building and a small communal garden. Off‑street parking for two cars adds practical value in this town centre setting.
Material points to note: the property sits in an area showing above‑average crime and relative deprivation indices, which can affect tenant mix and lettings strategy. Parking is limited to two spaces for the entire building. The flats are council tax band A (low), which tenants will value, but prospective purchasers should review the provided occupancy accounts and operating costs to confirm net yields and verify long‑term rental assumptions.
This block will suit a hands‑on investor or small portfolio buyer seeking immediate income and capital growth potential from a well‑presented, long‑let asset. There is modest upside through active management, potential rent reviews on renewal and efficient use of cellar/storage areas; however, buyers should factor local socio‑economic indicators and parking constraints into valuation and resale planning.
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