A freehold block of 5 self-contained flats in Blackburn, offered as a single lot at £300,000 (about £60,000 per flat). 4 of the 5 flats are already let to working tenants, producing £32,400 a year (£2,700 pcm) from completion. The 5th flat, a 1-bed ground-floor unit, is currently vacant and ready to re-let, which lifts the block to £40,200 a year fully let with no works required.
The building has been fully converted into 1 basement 1-bed, 2 ground-floor 1-beds and 2 duplex apartments (2-bed each, with attic master bedrooms). Each is self-contained, separately accessed and individually metered, with no communal areas to manage. It sits on a main road close to the town centre, with a railway station and primary and secondary schools all within easy reach, supporting steady tenant demand.
At £85/sqft the entry price sits well below the £/sqft evidence for individual flats in the area. The in-place rent already delivers a 7.2% net return after all running costs; re-letting the vacant flat takes that to 9.0% net. A refinance at 75% loan-to-value releases the bulk of the capital and lifts the return on remaining capital to around 14.3% fully let.
General location only - map centred on the Blackburn BB2 area. The exact address is shared with serious buyers at the appropriate stage. Tiles: OpenStreetMap contributors.
Based on 20 comparable sold transactions within roughly 0.13 miles, Feb 2025 to Feb 2026. Subject size 3,520 sqft. The comparable evidence is individual flats; a freehold block is priced as a single lot, so the £/sqft gap reflects the normal block position rather than pure equity.
All 5 flats individually certified, valid to 30 June 2034. Certificates provided in the full information pack.
Income reflects in-place tenancies and the achievable rent on the vacant unit. Net figures after voids, maintenance, letting and insurance.
| Property type | Date | Price | Sqft | £/sqft | Distance |
|---|---|---|---|---|---|
| 2-bed terraced house | Jun 25 | £80,000 | 700 | £114 | 0.12 mi |
| 2-bed terraced house | Apr 25 | £92,000 | 883 | £104 | 0.13 mi |
| 2-bed terraced house | Feb 26 | £117,500 | 764 | £154 | 0.10 mi |
| 3-bed terraced house | Mar 25 | £165,000 | 1,206 | £137 | 0.11 mi |
| 4-bed terraced house | Feb 25 | £160,000 | 1,292 | £124 | 0.11 mi |
| 4-bed flat | Oct 25 | £200,000 | 1,539 | £130 | 0.12 mi |
| Larger house | Oct 25 | £308,000 | 2,325 | £132 | 0.10 mi |
A mix of nearby houses and flats sold within roughly 0.13 miles over the last 18 months. The subject is a freehold block of 5 flats sold as a single lot, so it prices below the sum of the individual units - the spread of local values shows the room in the guide.
GDV shown at purchase price (no refurb assumed). SDLT at the residential higher rate for 5 units (5% to £125k, 7% £125k-250k, 10% above). Figures consistent with the in-house due diligence on this property.