Summary - RENART HOTEL, 373, PROMENADE FY1 6BH
1 bed 1 bath House of Multiple Occupation
Long-standing 14-room HMO on Blackpool Promenade — cash buyers or specialist lenders only..
Long-established HMO with 40 years trading history
14 rooms let to council tenants and workers; high occupancy reported
Includes self-contained 2-bed owners’ apartment
New 15-year lease only; mortgage lenders likely to refuse
Lease rent £1,100 pcm FR&I — buyer pays landlord rent and repairs
Located on Promenade corner; seaside footfall but very deprived area
Very high local crime; increased management and insurance risk
Unused lower-ground bar/lounge and stores offer refurbishment potential
A long-established HMO on Blackpool’s South Shore Promenade, operating for around 40 years with 14 let rooms. The property includes a self-contained 2-bedroom owners’ apartment and trades to council tenants and local workers, often at high occupancy. Basic services are connected and gas central heating is in place.
This is an income-focused purchase suited to an investor prepared for leasehold HMO operation. A new 15-year lease is offered direct from the landlord with a rent of £1,100 pcm on a Full Repairing & Insuring basis — prospective buyers should factor this ongoing ground rent and repairing liability into returns. Room rates currently cited are £480 pcm for council lets and £90 per week for workers.
Important cautions are clear: only 15 years remain on the lease, a material issue that will likely prevent mortgage lending and will restrict buyer pools to cash purchasers or specialist lenders. The property sits in a very deprived area with very high local crime levels, which affects letting risk, management requirements and insurance costs.
There is some scope for value-add: unused lower-ground former bar/lounge and store rooms, a rear yard, and the potential to review room configuration or rates after securing tenancy continuance. Full trading figures will be made available to genuinely interested parties after viewing.
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