2 Bed Flat, Cash/Bridging Only, Preston, PR2 3AX, £85,000

93 Royal Drive, Fulwood, Preston, Lancashire, PR2 3AX - 10 months ago

Leasehold
Cash
ROI: 10%
51 m²
+7 photos

ValuationFair Value

Sold Prices£66K - £160K
Sold Prices/m²£1.3K/m² - £2.3K/m²

 

 

Square Metres

51 m²
Price/m²£1.7K/m²

Value Estimate

£85,850

 

 

End Value (After Refurb)

£86,500

Uplift in Value

+2%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£21,250

Stamp Duty & Legal Fees

£5,450

Refurb Costs

£21,583

Bridging Loan Interest

£2,231

Total Cash In

£52,264

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£86,500

Mortgage (After Refinance)

£64,875

Mortgage LTV

75%

Cash Released

£1,125

Cash Left In

£51,139

Equity

£21,625

Rent Range

£600 - £2,094

Rent Estimate

£881

Running Costs/mo

£467

Cashflow/mo

£414

Cashflow/yr

£4,974

ROI

10%

Gross Yield

12%

Local Sold Prices

23 sold prices from £66K to £160K, average is £86K. £1.3K/m² to £2.3K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£83K10/210.05 mi51, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£86K03/230.05 mi70, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£90K11/220.05 mi49, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£90K05/230.05 mi45, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£92K05/210.07 mi7, The Fieldings, Fulwood, Preston, Lancashire PR2 3BB2
£160K01/210.16 mi3, Trafalgar Close, Ashton On Ribble, Preston, Lancashire PR2 2HG2
£75K11/200.28 mi25, Derby Road, Fulwood, Preston, Lancashire PR2 8JJ2
£80K06/210.31 mi5, Seymour Court, Preston, Lancashire PR1 7PT2
£78K03/230.36 mi118, Elliott Street, Preston, Lancashire PR1 7XN2
£67K10/200.38 mi77, Brackenbury Road, Preston, Lancashire PR1 7UQ2
£110K11/220.72 miFlat 7, Garden Court, Tulketh Avenue, Ashton On Ribble, Preston, Lancashire PR2 1DG2
£112.5K07/230.72 miFlat 5, Garden Court, Tulketh Avenue, Ashton On Ribble, Preston, Lancashire PR2 1DG2
£97K01/230.75 mi2, Abbey Street, Ashton On Ribble, Preston, Lancashire PR2 2QD2
£82.5K10/220.81 mi35, Regent Court, Fulwood, Preston, Lancashire PR2 9XW2
£66K02/230.82 mi16, Regent Court, Fulwood, Preston, Lancashire PR2 9XW2
£85K05/210.82 mi21, Regent Court, Fulwood, Preston, Lancashire PR2 9XW2
£80K03/230.82 mi18, Regent Court, Fulwood, Preston, Lancashire PR2 9XW2
£94K02/230.82 mi28, Regent Court, Fulwood, Preston, Lancashire PR2 9XW2
£88K02/230.82 mi24, Regent Court, Fulwood, Preston, Lancashire PR2 9XW2
£80K09/210.83 mi36a, Charnock Street, Preston, Lancashire PR1 6DR2
£74K02/210.87 mi18, Tinniswood, Ashton On Ribble, Preston, Lancashire PR2 1EL2
£125K12/200.93 miFlat 1, Cottam Court, Cottam Lane, Ashton On Ribble, Preston, Lancashire PR2 1JR2
£127K02/210.93 miFlat 6, Cottam Court, Cottam Lane, Ashton On Ribble, Preston, Lancashire PR2 1JR2

Local Rents

50 rents from £600/mo to £2.1K/mo, average is £795/mo.

RentDateDistanceAddressBeds 
£79507/240.01 miRoyal Drive, Fulwood, PR22
£82507/240.14 mi-2
£1,31203/250.15 mi-2
£67502/250.15 mi-2
£60006/240.17 miRoyal Drive, Fulwood, Preston, PR22
£79507/240.19 miPlungington Road, Preston, Lancashire, PR12
£80012/240.2 mi-2
£85006/240.22 miNorris Street, Preston2
£75006/240.24 miWildman street, Plungington, Preston2
£80003/250.25 mi-2
£70006/240.29 miDerby Road, Fulwood, Preston, PR2 8JJ2
£65007/240.3 mi-2
£75008/240.31 miEmmanuel Street, Preston2
£75006/240.32 miBrook Court, Dorman Close, Preston, Lancashire, PR22
£69506/240.32 miBrook Court, Ashton2
£75006/240.32 miElmsley Street, Preston, Lancashire, PR12
£73001/240.32 mi-2
£65006/240.33 miEldon Street, PRESTON PR1 7YE2
£72506/240.34 miEldon Street - flat 2, PRESTON PR2 2BA2
£79502/250.36 mi-2
£1,14407/240.36 miFlat 2 Eldon Street, Preston2
£72506/240.36 miMoor Hall Street, Preston, Lancashire, PR12
£79507/240.37 miMoor Hall Street, Preston2
£79508/240.37 miMoor Hall Street, Preston2
£69507/240.37 miRaglan Street, Ashton-on-ribble, Preston2
£69912/240.38 mi-2
£75012/240.38 mi-2
£75006/240.38 miMoorlands, 103 Garstang Road, Preston, Lancashire, PR12
£2,09407/240.39 miOtway Street, Preston, Lancashire, PR12
£2,09407/240.39 miOtway Street, Preston, Lancashire, PR12
£1,60008/240.39 miOtway Street, Preston, Lancashire, PR12
£1,60008/240.39 miOtway Street, Preston, Lancashire, PR12
£80007/240.39 miMoorlands, 103 Garstang Road, Lancashire, PR12
£85006/240.39 miInkerman Street Preston PR2 2AQ2
£65010/240.41 mi-2
£1,05007/240.42 miWove Court, Garstang Road, Preston2
£70006/240.42 miWove Court, Garstang Road2
£79507/240.42 miGarstang Road, Preston, Lancashire, PR12
£70008/240.42 miWove Court, Garstang Road2
£80006/240.42 miDelacy Street, PRESTON PR2 2DD2
£82507/240.42 miGarstang Road, Preston2
£85007/240.43 miWove Court, Garstang Road, Preston, Lancashire, PR12
£74506/240.44 miAshley Mews, Ashton on Ribble, Preston, PR22
£1,15008/240.44 miGarstang Road, Preston, Lancashire, PR12
£72502/240.45 mi-2
£89502/250.45 mi-2
£67506/240.46 miLadysmith Road, Ashton2
£85008/240.47 mi-2
£92707/240.48 miPlungington Road, PRESTON, Lancashire PR1 7RB2
£92707/240.48 miPlungington Road, PRESTON, Lancashire PR1 7RB2

Local Area Statistics

Population in PR2

77,713

Population in Preston

286,036

Town centre distance

1.18 miles away

Nearest school

0.20 miles away

Nearest train station

1.33 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

-7%

Sales demand

Seller's market

Capital growth (5yrs)

+25%

Property History

Price changed to £85,000

January 7, 2025

Listed for £90,000

May 15, 2024

Floor Plans

Description

  • Chain Free +
  • Attn: First Time Buyers +
  • Ideal Investment Opportunity +
  • Shops And Amenities Nearby +
  • Close To Public Transport +
  • Apartment +
  • 2 Bedrooms +
  • 1 Reception Room +
  • Fitted Kitchen +
  • Residents Parking +

Kingswood Estates are now in receipt of an offer for the sum of £85,000 for 93 Royal Drive, Fulwood, Preston, Lancashire, PR2 3AX. Anyone wishing to place an offer on the property should contact Kingswood Estates, 77 Watling Street Road, Fulwood, Preston, PR2 8EA before exchange of contracts.
CASH BUYERS ONLY. This spacious first floor apartment located in Fulwood is ideal for both first time buyers and investors. With two bedrooms, a great size lounge, bathroom and kitchen, it offers so much internal space and has superb transport links on the doorstep. Available to buy with no chain delay, it will not take long to sell so call to arrange a viewing as soon as possible.

As soon as you enter this apartment and see how light and spacious it is, you will be so pleased that you chose to view it. The lounge is an excellent size and has a large window letting in so much natural light making the room so light and welcoming. Leading off the lounge there is the kitchen. The apartment comes with two double bedrooms with the main bedroom being an excellent size and with a bathroom leading off the entrance hallway.

Externally there is parking for residents and visitors.

The apartment block is located in a very popular area for both first time buyers and investors. There are brilliant transport links including bus routes, shops and amenities on the doorstep. Preston city centre is a short commute away.

This is a leasehold property.

Length of lease - 250 years commencing on 1/09/2003

All services /appliances have not and will not be tested.

EPC rating - C

Council tax band - B

The apartment is ideal for both first time buyers and investors and we are expecting a lot of interest in it. Call to arrange a viewing as soon as possible to avoid missing out on it.

Please contact Kingswood.

Fulwood Office: 

77 Watling Street Road, Fulwood, Preston, PR2 8EA

Disclaimer:
These particulars, whilst believed to be correct, do not form any part of an offer or contract. Intending purchasers should not rely on them as statements or representation of fact. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. All measurements quoted are approximate. Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.

Agent Details

Kingswood, Fulwood

01772 419787

Next Steps?

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