2 Bed Flat, Refurb/BRRR, Preston, PR1 8HU, £140,000

72D West Cliff, Preston, Lancashire, PR1 8HU - 13 views - 10 months ago

Leasehold
Refurb/BRRR
Negative Equity
ROI: 7%
81 m²
+4 photos

ValuationUndervalued

Sold Prices£50K - £250K
Sold Prices/m²£1.1K/m² - £3.7K/m²

 

 

Square Metres

81 m²
Price/m²£1.7K/m²

Value Estimate

£149,520

 

 

End Value (After Refurb)

£126,563

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£35,000

Stamp Duty & Legal Fees

£5,700

Refurb Costs

£34,348

Bridging Loan Interest

£3,675

Total Cash In

£80,473

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£126,563

Mortgage (After Refinance)

£94,922

Mortgage LTV

75%

Cash Left In

£80,473

Equity

£31,641

Rent Range

£675 - £2,185

Rent Estimate

£1,114

Running Costs/mo

£638

Cashflow/mo

£476

Cashflow/yr

£5,708

ROI

7%

Gross Yield

10%

Local Sold Prices

50 sold prices from £50K to £250K, average is £107.5K. £1.1K/m² to £3.7K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£85K12/220.18 mi12, South Meadow Lane, Preston, Lancashire PR1 8JN2
£105K01/230.35 miApartment 22, Old School Square, Burleigh Road, Preston, Lancashire PR1 8PW2
£50K07/230.6 miFlat 240, Sandown Court, Avenham Lane, Preston, Lancashire PR1 3UQ2
£51K10/210.6 miFlat 214, Sandown Court, Avenham Lane, Preston, Lancashire PR1 3UQ2
£79.5K04/210.75 mi119a, Walker Street, Preston, Lancashire PR1 2RR2
£82K05/230.77 mi16, Grimshaw Place, Preston, Lancashire PR1 3BW2
£72.8K02/230.77 mi41, Grimshaw Place, Preston, Lancashire PR1 3BW2
£66K03/210.77 mi10, Grimshaw Place, Preston, Lancashire PR1 3BW2
£81K12/220.78 mi13, Grimshaw Place, Preston, Lancashire PR1 3BW2
£97K01/230.8 mi2, Abbey Street, Ashton On Ribble, Preston, Lancashire PR2 2QD2
£128K12/201.06 miFlat 6, Wembley Court, Wembley Avenue, Penwortham, Preston, Lancashire PR1 9UW2
£140K12/221.09 mi54, Britannia Drive, Ashton On Ribble, Preston, Lancashire PR2 2YD2
£135K08/231.12 mi47, Pope Lane, Penwortham, Preston, Lancashire PR1 9JN2
£130K11/221.12 mi13, Mountbatten Close, Ashton On Ribble, Preston, Lancashire PR2 2YJ2
£105K09/231.12 mi49, Mountbatten Close, Ashton On Ribble, Preston, Lancashire PR2 2YJ2
£118K04/231.12 mi4, Mountbatten Close, Ashton On Ribble, Preston, Lancashire PR2 2YJ2
£250K02/211.14 mi27, Marl Avenue, Penwortham, Preston, Lancashire PR1 0XD2
£125K01/231.16 mi184, Mountbatten Close, Ashton On Ribble, Preston, Lancashire PR2 2XF2
£142.5K06/231.16 mi44, Mountbatten Close, Ashton On Ribble, Preston, Lancashire PR2 2XB2
£163K02/231.16 mi42, Mountbatten Close, Ashton On Ribble, Preston, Lancashire PR2 2XB2
£123K12/221.16 mi30, Mountbatten Close, Ashton On Ribble, Preston, Lancashire PR2 2XB2
£151.5K01/231.16 mi56, Mountbatten Close, Ashton On Ribble, Preston, Lancashire PR2 2XB2
£145K11/211.16 mi138, Mountbatten Close, Ashton On Ribble, Preston, Lancashire PR2 2XE2
£67K12/221.17 miApartment 59, Centenary Mill Court, New Hall Lane, Preston, Lancashire PR1 5JQ2
£60K04/211.17 miApartment 59, Centenary Mill Court, New Hall Lane, Preston, Lancashire PR1 5JQ2
£80K06/211.2 mi5, Seymour Court, Preston, Lancashire PR1 7PT2
£60K04/211.21 miApartment 59, Centenary Mill Court, New Hall Lane, Preston, Lancashire PR1 5JQ2
£170K02/231.24 miFlat 88, Victoria Mansions, Navigation Way, Ashton On Ribble, Preston, Lancashire PR2 2YZ2
£123K01/231.25 miApartment 3, Woodville Court, Woodville Road, Penwortham, Preston, Lancashire PR1 9BW2
£80K09/211.26 mi36a, Charnock Street, Preston, Lancashire PR1 6DR2
£130K06/231.26 mi11, Edward Street, Walton Le Dale, Preston, Lancashire PR5 4BY2
£78K03/231.27 mi118, Elliott Street, Preston, Lancashire PR1 7XN2
£110K11/221.28 miFlat 7, Garden Court, Tulketh Avenue, Ashton On Ribble, Preston, Lancashire PR2 1DG2
£112.5K07/231.28 miFlat 5, Garden Court, Tulketh Avenue, Ashton On Ribble, Preston, Lancashire PR2 1DG2
£175K10/211.31 miFlat 5, Victoria Mansions, Navigation Way, Ashton On Ribble, Preston, Lancashire PR2 2YX2
£145K10/221.31 miFlat 11, Victoria Mansions, Navigation Way, Ashton On Ribble, Preston, Lancashire PR2 2YX2
£130K11/221.38 mi152, Princes Reach, Ashton On Ribble, Preston, Lancashire PR2 2GD2
£126.5K06/231.38 mi154a, Princes Reach, Ashton On Ribble, Preston, Lancashire PR2 2GD2
£65K04/211.39 mi71, Wilbraham Street, Preston, Lancashire PR1 5NN2
£165K10/211.43 mi111, Princes Reach, Ashton On Ribble, Preston, Lancashire PR2 2GB2
£74K02/211.44 mi18, Tinniswood, Ashton On Ribble, Preston, Lancashire PR2 1EL2
£90K02/211.45 mi9, Handshaw Drive, Penwortham, Preston, Lancashire PR1 9SG2
£121K01/231.45 mi35, Bloomfield Grange, Penwortham, Preston, Lancashire PR1 9LJ2
£86K03/231.47 mi70, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£90K11/221.47 mi49, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£90K05/231.47 mi45, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£83K10/211.47 mi51, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£105K07/211.48 mi36, Dorchester Avenue, Walton Le Dale, Preston, Lancashire PR5 4PE2
£116K09/231.48 mi39, Dorchester Avenue, Walton Le Dale, Preston, Lancashire PR5 4PE2
£126K11/201.48 mi16, Dorchester Avenue, Walton Le Dale, Preston, Lancashire PR5 4PE2

Local Rents

50 rents from £675/mo to £2.2K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£99506/240.05 miThe Sorting Office, 42 West Cliff, Preston2
£1,10006/240.05 miThe Sorting Office, 42 West Cliff, Preston2
£1,27507/240.05 miThe Sorting Office, 42 West Cliff, Preston2
£1,10007/240.05 miThe Sorting Office, 42 West Cliff, Preston2
£1,25007/240.05 miThe Sorting Office, 42 West Cliff, Preston2
£1,27507/240.05 miThe Sorting Office, 42 West Cliff, Preston2
£67507/240.08 miMeadow Court, Off South Meadow Lane, Broadgate, PR12
£95007/240.08 miWest Cliff, Preston2
£85006/240.1 miWest Cliff, Preston2
£1,10006/240.1 miThe Sorting Office, 42 West Cliff, Preston, PR12
£69508/240.1 miSouth Meadow Lane, Preston2
£1,17506/240.17 miBishopgate Gardens, Bishopgate, Preston2
£1,15006/240.17 miBishopgate Gardens, Bishopgate, Preston2
£1,15007/240.17 miBishopgate Gardens, Bishopgate , Preston2
£1,12007/240.17 miBishopgate Gardens, Bishopgate, Preston2
£1,05007/240.17 miBishopgate Gardens, Bishopgate, Preston2
£1,60007/240.17 miBishopgate Gardens, Bishopgate , Preston2
£1,25007/240.17 miBishopgate Gardens, Bishopgate, Preston2
£1,25007/240.17 miBishopgate Gardens, Bishopgate , Preston2
£1,15007/240.17 miBishopgate Gardens, Bishopgate , Preston2
£1,22507/240.17 miBishopgate Gardens, Bishopgate , Preston2
£1,17507/240.17 miBishopgate Gardens, Bishopgate, Preston2
£1,15008/240.17 miBishopgate Gardens, Bishopgate , Preston2
£1,25009/240.17 miBishopgate Gardens, Bishopgate , Preston2
£1,40006/240.17 miBishopgate Gardens, Bishopgate, Preston2
£90007/240.2 miStation Terrace, Waltons Parade2
£1,64506/240.21 mi-2
£2,18509/240.21 mi-2
£2,18504/250.21 mi-2
£97106/240.22 miFishergate Hill Flat, PRESTON, Lancashire PR1 8JB2
£1,40007/240.22 miThe Old County Hotel, Fishergate Hill, Preston2
£1,49503/250.23 mi-2
£1,49504/250.23 mi-2
£69506/240.24 miTaylor Street, Broadgate, Preston PR12
£1,08306/240.25 miFlat 2 Preston PR1 8JE2
£1,08306/240.25 miFlat 1 Preston PR1 8JE2
£1,08306/240.25 mi Preston PR1 8JE2
£75008/240.26 mi-2
£75004/250.26 mi-2
£1,12708/240.26 mia Fishergate Hill, Preston2
£75006/240.26 mi-2
£67507/240.27 miTyne Street, Preston2
£99708/240.27 miFishergate Court, Flat 1, PRESTON, Lancashire PR1 8JB2
£1,04008/240.27 miFishergate Court, Flat 2, PRESTON, Lancashire PR1 8JB2
£99708/240.27 miFishergate Court, Flat 3, PRESTON, Lancashire PR1 8JB2
£1,10007/240.27 miFlat , Fishergate Court, Fishergate, Preston2
£2,18006/240.28 miMount Street, Preston, Lancashire, PR12
£1,04006/240.28 miChristchurch Street-Flat 1, PRESTON PR1 8PH2
£82307/240.28 miChristchurch Street flat 2, PRESTON PR1 8PH2
£75007/240.29 miCity Space, Preston2

Local Area Statistics

Population in PR1

72,064

Population in Preston

286,036

Town centre distance

1.32 miles away

Nearest school

0.10 miles away

Nearest train station

0.22 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+3%

Sales demand

Seller's market

Capital growth (5yrs)

+17%

Property History

Price changed to £140,000

December 4, 2024

Listed for £150,000

-67%

July 4, 2024

Sold for £249,995

2006

Description

  • Ideal opportunity for friends or couples to step onto the housing ladder together. +
  • Two spacious double bedrooms, each with a stylish ensuite bathroom. +
  • Sociable open plan living area with a modern kitchen and integrated appliances. +
  • First floor flat in an imposing Grade II listed building with period features. +
  • Move-in ready with no need for renovations or updates. +
  • Convenient location, a short walk to shops, UCLAN campus, river, and parks. +
  • Beautifully landscaped communal gardens and a gated car park with an allocated space. +
  • Combines charming period features with modern amenities for a perfect blend. +

If You’re Struggling To Buy Your Own Place, Buying This Flat With A Friend Might Be A Great Way To Get Onto The Housing Ladder. It has two double bedrooms - both with stylish ensuites - and a spacious and sociable open plan lounge / kitchen.

If you’re fed up with renting but can’t afford to buy on your own, then you could take your first step onto the housing ladder with a friend.

There are plenty of good reasons for doing so, both in terms of finding the deposit and sharing the monthly mortgage payments.

And this first floor flat in an imposing Grade II Listed conversion could be the ideal property to buy together

It has plenty of period features along with smart, modern bathrooms and a stylish kitchen.

And crucially both bedrooms are good size doubles and both have ensuites. You could live with renting a small room but when you’re buying together you’ll both want a decent room!

The only thing you’ll need to decide is who gets the shower and who gets the roll top bath!

The open plan living area is an attractive blend of old and new. It has lovely period features like the Victorian style sash windows (with views of the playing fields below) but the kitchen is thoroughly up-to-date.

It has an island unit where you can sit to catch up with friends and stylish fitted units with integrated appliances.

The whole apartment is in fantastic condition - you wouldn’t need to do any work before making yourselves at home.

It’s the perfect spot if you need to live close to town - but not right in the centre. West Cliff sits at the end of a leafy no-through-road that’s only a 15 minute stroll to the shops or 20 minutes to the UCLAN campus.

It’s even closer to the river and Avenham & Miller Park.

But if you don’t want to head far to enjoy some outside space, there’s lovely landscaped communal gardens at the rear and a large gated car park where you get an allocated space.

This tastefully updated Grade II listed apartment ticks all the period property boxes but combines this with the latest modern touches where they matter most.

It would make a fantastic first time buy - whether you’re buying on your own, as a couple or with a friend.

Leasehold Information

Number of years remaining on the lease: 981 years

Current ground rent and any review period:
- £150 per year
Current service charge and any review period:
- £1,893 per year
Council tax band: A

Agent Details

Michael Bailey, Powered by Keller Williams, Preston

0117 298 0991

Next Steps?

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