24 January 2024: Wednesday 24 January 2024 - 9:00am
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    Key features

    • Freehold HMO Investment
    • Eight Letting Rooms
    • Previously Let - Producing £68,640 p.a.
    • Offered with Full Vacant Possession
    • Development Potential subject to any requisite consents
    • Established and Popular Location
    • Guide Price Reflects 39% Gross Yield on potential rent

    Description

    The property comprises an eight bedroom, mid-terrace HMO previously let to NHS hospital students and producing £68,640 p.a. Arranged across ground, first and second floors, the property offers a huge amount of scope and opportunity, with a multitude of different options, be that continued use as an HMO or conversion/development to provide holiday lets, a bed & breakfast or hotel (subject to obtaining any requisite consents). The property will be being sold with full vacant possession upon completion.

    The property is situated on the Northerly frontage of Palatine Road at its junction with Central Drive and the new Blackpool central 300 million pound leisure development that is under construction. Palatine Road is a popular road, which is within close proximity of a wide range of amenities, including Blackpool the sea front, and the Central Pier.

    Blackpool itself is a popular tourist destination in the North West, along with good access to the surrounding towns.

    Additional information

    Tenure

    Freehold

    Tenancy

    The property is currently let as an HMO to the NHS by way of a private agreement. The total aggregate rent is £68,640 per annum.

    The property is to be sold with Full Vacant Possession

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The property is located approximately 0.6 miles from Blackpool town centre and approximately 19 miles from Lancashire city centre. Blackpool and Fylde College/University Campus are also located 0.3 miles away.

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums