2 Bed Flat, Cash/Bridging Only, Preston, PR1 5JQ, £45,000

Centenary Mill Court, New Hall Lane, Preston, PR1 5JQ - 2 views - 8 months ago

Sold STC
Leasehold
Cash
ROI: 7%
~68 m²
+10 photos

ValuationFair Value

Sold Prices£23.5K - £160K
Sold Prices/m²£458/m² - £5.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£661/m²

Value Estimate

£45,450

 

 

End Value (After Refurb)

£86,693

Uplift in Value

+93%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£11,250

Stamp Duty & Legal Fees

£2,550

Refurb Costs

£28,882

Bridging Loan Interest

£1,181

Total Cash In

£45,613

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£86,693

Mortgage (After Refinance)

£65,019

Mortgage LTV

75%

Cash Released

£31,269

Cash Left In

£14,344

Equity

£21,673

Rent Range

£575 - £1,500

Rent Estimate

£700

Running Costs/mo

£431

Cashflow/mo

£269

Cashflow/yr

£3,229

ROI

7%

Gross Yield

19%

Local Sold Prices

50 sold prices from £23.5K to £160K, average is £82.5K. £458/m² to £5.8K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£67K12/220.03 miApartment 59, Centenary Mill Court, New Hall Lane, Preston, Lancashire PR1 5JQ2
£44.5K10/200.03 miApartment 58, Centenary Mill Court, New Hall Lane, Preston, Lancashire PR1 5JQ2
£60K04/210.03 miApartment 59, Centenary Mill Court, New Hall Lane, Preston, Lancashire PR1 5JQ2
£60K04/210.05 miApartment 59, Centenary Mill Court, New Hall Lane, Preston, Lancashire PR1 5JQ2
£65K04/210.2 mi71, Wilbraham Street, Preston, Lancashire PR1 5NN2
£81K12/220.41 mi13, Grimshaw Place, Preston, Lancashire PR1 3BW2
£82K05/230.42 mi16, Grimshaw Place, Preston, Lancashire PR1 3BW2
£72.8K02/230.42 mi41, Grimshaw Place, Preston, Lancashire PR1 3BW2
£66K03/210.42 mi10, Grimshaw Place, Preston, Lancashire PR1 3BW2
£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
£79.5K04/210.71 mi119a, Walker Street, Preston, Lancashire PR1 2RR2
£130K06/230.81 mi11, Edward Street, Walton Le Dale, Preston, Lancashire PR5 4BY2
£80K09/210.82 mi36a, Charnock Street, Preston, Lancashire PR1 6DR2
£67K10/201.26 mi77, Brackenbury Road, Preston, Lancashire PR1 7UQ2
£78K03/231.26 mi118, Elliott Street, Preston, Lancashire PR1 7XN2
£105K01/231.27 miApartment 22, Old School Square, Burleigh Road, Preston, Lancashire PR1 8PW2
£85K12/221.33 mi12, South Meadow Lane, Preston, Lancashire PR1 8JN2
£97K01/231.36 mi2, Abbey Street, Ashton On Ribble, Preston, Lancashire PR2 2QD2
£61.5K12/221.4 miFlat 6, Guardian Close, Poole Road, Fulwood, Preston, Lancashire PR2 8EX2
£52.5K04/211.4 miFlat 21, Guardian Close, Poole Road, Fulwood, Preston, Lancashire PR2 8EX2
£59.4K10/201.4 miFlat 14, Guardian Close, Poole Road, Fulwood, Preston, Lancashire PR2 8EX2
£80K06/211.41 mi5, Seymour Court, Preston, Lancashire PR1 7PT2
£83K10/211.59 mi51, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£86K03/231.6 mi70, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£90K11/221.6 mi49, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£90K05/231.6 mi45, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£25.2K06/231.63 mi3, Glenview Court, Ribbleton, Preston, Lancashire PR2 6EG2
£50K10/211.63 miFlat 4, Birchall Lodge, Grange Avenue, Ribbleton, Preston, Lancashire PR2 6PF2
£23.5K02/211.63 miFlat 2, Travers Lodge, Grange Avenue, Ribbleton, Preston, Lancashire PR2 6PF2
£48.5K01/211.63 miFlat 4, Elston Lodge, Grange Avenue, Ribbleton, Preston, Lancashire PR2 6PF2
£75K11/201.67 mi25, Derby Road, Fulwood, Preston, Lancashire PR2 8JJ2
£115K04/211.67 mi75, Neapsands Close, Fulwood, Preston, Lancashire PR2 9AQ2
£92K05/211.67 mi7, The Fieldings, Fulwood, Preston, Lancashire PR2 3BB2
£128K05/231.67 mi86, Holland House Road, Walton Le Dale, Preston, Lancashire PR5 4JG2
£131K05/231.67 mi86a, Holland House Road, Walton Le Dale, Preston, Lancashire PR5 4JG2
£108K03/221.69 mi184, Holland House Road, Walton Le Dale, Preston, Lancashire PR5 4HY2
£47K05/211.69 miFlat 3, Beacon Lodge, Fir Trees Place, Ribbleton, Preston, Lancashire PR2 6FL2
£102K07/221.7 mi182, Holland House Road, Walton Le Dale, Preston, Lancashire PR5 4HY2
£108K05/221.72 mi188, Holland House Road, Walton Le Dale, Preston, Lancashire PR5 4HY2
£100K09/211.72 mi198, Holland House Road, Walton Le Dale, Preston, Lancashire PR5 4HY2
£110K04/211.72 mi206, Holland House Road, Walton Le Dale, Preston, Lancashire PR5 4HY2
£160K01/211.77 mi3, Trafalgar Close, Ashton On Ribble, Preston, Lancashire PR2 2HG2
£105K07/211.8 mi36, Dorchester Avenue, Walton Le Dale, Preston, Lancashire PR5 4PE2
£116K09/231.8 mi39, Dorchester Avenue, Walton Le Dale, Preston, Lancashire PR5 4PE2
£126K11/201.8 mi16, Dorchester Avenue, Walton Le Dale, Preston, Lancashire PR5 4PE2
£114K10/201.8 mi43, Dorchester Avenue, Walton Le Dale, Preston, Lancashire PR5 4PE2
£102.5K10/201.83 mi52, Fareham Close, Walton Le Dale, Preston, Lancashire PR5 4JX2
£115K05/231.83 mi52, Fareham Close, Walton Le Dale, Preston, Lancashire PR5 4JX2
£104K06/211.85 mi7, Halliwell Heights, Walton Le Dale, Preston, Lancashire PR5 4NT2

Local Rents

49 rents from £575/mo to £1.5K/mo, average is £850/mo.

RentDateDistanceAddressBeds 
£75003/250.01 mi-2
£79506/240.02 mi-2
£89506/240.02 mi-2
£95008/240.02 mi-2
£89508/240.02 mi-2
£85003/250.02 mi-2
£99511/240.02 mi-2
£79501/250.02 mi-2
£85007/240.02 miCentenary Mill Court, Preston, PR12
£89507/240.02 miCentenary Mill Court, Preston, PR12
£89508/240.02 miCentenary Mill Court, Preston, PR12
£89501/250.03 mi-2
£75006/240.03 miCentenary Mill, New Hall Lane2
£80008/240.03 miCentenary Mill, Preston2
£79508/240.03 miCentenary Mill Court, New Hall Lane, Preston, PR12
£85003/250.07 mi-2
£75008/240.07 mi-2
£75008/240.07 mi-2
£57506/240.07 miKayley House, Preston2
£57507/240.07 miKayley House, New Hall Lane, Preston2
£67507/240.1 miMercer Street, Preston, PR12
£70006/240.1 miWoodrow House,Mercer Street, Preston, PR1 4LQ2
£60007/240.11 miCromford Walk, Preston2
£62502/240.26 mi-2
£80012/240.28 mi-2
£75012/240.28 mi-2
£72507/240.28 miCaroline Street, Preston2
£75008/240.29 miSkeffington Road, Preston, PR12
£65006/240.31 miBleasdale Street East, Preston, PR12
£80008/240.32 mi-2
£80003/250.32 mi-2
£80007/240.32 miDeepdale Road, Preston, PR12
£57503/250.32 mi-2
£1,00011/240.33 mi-2
£93003/250.33 mi-2
£1,15006/240.35 miThe Exchange, Percy Street, Preston2
£1,20006/240.35 miThe Exchange, Percy Street, Preston2
£1,25506/240.35 miThe Exchange, Percy Street, Preston2
£1,35006/240.35 miThe Exchange, Percy Street, Preston2
£1,17506/240.35 miThe Exchange, Percy Street, Preston2
£1,35006/240.35 miThe Exchange, Percy Street, Preston2
£1,20006/240.35 miThe Exchange, Percy Street, Preston2
£1,50006/240.35 miThe Exchange, Percy Street , Preston2
£1,00006/240.35 miThe Exchange, Percy Street, Preston2
£1,14506/240.35 miThe Exchange, Percy Street, Preston2
£1,25006/240.35 miThe Exchange, Percy Street, Preston2
£1,14506/240.35 miThe Exchange, Percy Street, Preston2
£1,00006/240.35 miThe Exchange, Percy Street, Preston2
£1,27006/240.35 miThe Exchange, Percy Street, Preston2

Local Area Statistics

Population in PR1

72,064

Population in Preston

286,036

Town centre distance

0.54 miles away

Nearest school

0.20 miles away

Nearest train station

1.05 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+3%

Sales demand

Seller's market

Capital growth (5yrs)

+17%

Property History

Listed for £45,000

July 18, 2024

Floor Plans

Description

  • Chain Free - Impressive and spacious ground floor apartment +

  • Two double bedrooms, master en-suite +

  • Three piece bathroom with bath and electric shower +

  • Sought after location, overlooking the rear shared garden +

  • Well maintained with feature rear floor to ceiling windows +

  • Allocated parking spaces +

  • Fully fitted kitchen +

  • Open plan and comfortable living room. +

  • Secure entrance - communal landscaped garden and parking +

  • Economy 7 storage heating throughout +

CHAIN FREE - Attention cash buyers and investors! Fantastic investment opportunity offering a potential income of 8,400 per annum. This unique and spacious two-bedroom 1st-floor apartment presents excellent value for discerning buyers. Boasting an entrance hall, two double bedrooms (master with en-suite), utility and storage cupboard, and three-piece bathroom. The heart of the apartment is the very spacious, bright, and airy open-plan living room, ideal for relaxation and entertaining with feature rear floor to ceiling windows overlooing the peaceful shared garden . The fully fitted kitchen has a good selection of wall and base units. Enjoy Karndean flooring and economy 7 electric storage heating for comfort and convenience. Outside, benefit from a communal landscaped garden area and onsite parking. Centenary Mill is highly sought after, offering easy access to Preston city centre, the hospital, motorway links, and local amenities. Don't miss this opportunity to invest in a property with great potential and a prime location. Schedule a viewing today to explore all that this unique and spacious ground apartment has to offer. CASH PURCHASE BUYERS ONLY!

Council Tax Band & Tenure - We have been advised by the seller that the Council Tax Band is Band B and the Tenure is Leasehold.

Tenure: Leasehold

Length of Lease/Term: 125 years from 2004

Ground Rent : Approximately 317.71pa

Service Charge: approximately 3,000.00pa

Council Tax Band : B

Local Authority: Preston

For further information or to arrange a viewing please call Forbes Estates.

Disclaimer, further room dimensions can be found on our floor plan. These particulars, whilst we believe to be accurate are set as a general outline only for guidance and do not constitute any part of an offer or contract, all appliances, drains, plumbing and heating have not been tested. All measurements quoted are approximate. Property to sell? If you are thinking of selling your home Forbes offer a free no obligation appraisal with local experienced sales advice.

Agent Details

Forbes Estates, Clayton-le-Woods

01257 445716

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪