A freehold block of five self-contained flats in Blackburn, offered as a single lot at £270,000 - around £54,000 per income unit. Four of the five flats are already let to working tenants, producing £32,400 a year (£2,700 pcm) from completion. The fifth flat, a one-bedroom 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 one basement one-bed, two ground-floor one-beds and two two-bedroom duplex apartments 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. The block is held freehold across three titles, so there is no leasehold complication, no ground rent and no service charge.
At £77 per square foot the entry price sits well below the per-square-foot evidence for individual flats in the area. The in-place rent already delivers a 8.0% net return after all running costs; re-letting the vacant flat takes that to 10.0% net. A refinance at 75% loan-to-value releases the bulk of the capital and lifts the return on remaining capital to around 17.1% 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 per-square-foot gap reflects the normal block position rather than pure equity.
All five 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 | Date | Price | Type | Sqft | £/sqft |
|---|---|---|---|---|---|
| 1-bed flat, BB2 | Aug 25 | £70k | Flat, leasehold | 431 | £162 |
| 1-bed flat, BB2 | Aug 25 | £65k | Flat, leasehold | 431 | £151 |
| 1-bed flat, BB2 | Jul 25 | £65k | Flat, leasehold | 431 | £151 |
| 3-bed flat, BB2 | Jun 25 | £86k | Flat, leasehold | - | - |
| 4-bed flat, BB2 | Oct 25 | £200k | Flat, leasehold | - | - |
Comparable individual flat sales in the BB2 area, last 18 months. The subject is a freehold block sold as a single lot rather than per flat. Like-for-like block sales are scarce in the immediate area - wider evidence available on request.
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.