Summary - Flat 2 The George & Dragon, 38a, The Strand ST3 2JH
8 bed 8 bath Block of Apartments
Immediate diversified income with scope for active management and value uplift.
Freehold mixed‑use: pub plus eight one‑bed flats generating £77,340 pa
Commercial pub let 5 years from 01/07/2023 at £30,000 per annum
Net initial yield approx. 8.74% at asking price £845,000
Flats individually tenanted; rents £450–£550 pcm, EPCs C–D
Building refurbished 2005/06; Victorian solid brick with high ceilings
Heating by electric storage heaters; consider running costs and upgrades
Located in very deprived area with very high local crime rate
Pub lease expires July 2026; review lease terms and trading performance
A freehold, multi-let mixed‑use investment in Longton offering immediate, diversified income from a trading public house and eight one‑bed flats. The commercial unit is let on a five‑year lease started July 2023 at £30,000 pa; the eight flats produce monthly rents between £450–£550, giving a combined annual income of £77,340. The quoted price reflects a net initial yield of 8.74% (assuming purchaser’s costs at 4.83%).
The building was refurbished in 2005/06 and presents as solid brick Victorian fabric with high ceilings and large commercial space. Flats are finished to a modern standard and are all let with current EPCs ranging C–D; the commercial EPC is C (valid to 2032). Services are understood to be mains connected and communal areas are in useable condition.
Important investment considerations: the asset sits in a very deprived area with a very high crime rate — this affects tenant profiles, management needs and potential future rental growth. Heating is by electric storage heaters, and broadband speeds are average. The pub lease runs to July 2026, so any purchaser should review lease security and trading performance. Tenancies and compliance documentation are available for review.
This is a straightforward cashflow asset for a buyer seeking high initial yield and active asset management opportunities. There is potential to protect and enhance value through tight management of the commercial lease, selective refurbishment of flats, and engagement with local regeneration initiatives in Longton.
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