2 Bed Flat, Cash/Bridging Only, Preston, PR1 5JH, £70,000

CENTENARY MILL COURT New Hall Lane, Preston, Lancashire, PR1 5JH - 11 views - 7 months ago

Cash
ROI: 8%
78 m²
+12 photos

ValuationFair Value

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

 

 

Square Metres

78.23 m²
Price/m²£895/m²

Value Estimate

£70,700

 

 

End Value (After Refurb)

£100,395

Uplift in Value

+43%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£17,500

Stamp Duty & Legal Fees

£3,300

Refurb Costs

£33,173

Bridging Loan Interest

£1,838

Total Cash In

£57,561

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£100,395

Mortgage (After Refinance)

£75,296

Mortgage LTV

75%

Cash Released

£22,796

Cash Left In

£34,764

Equity

£25,099

Rent Range

£575 - £1,500

Rent Estimate

£895

Running Costs/mo

£513

Cashflow/mo

£382

Cashflow/yr

£4,587

ROI

8%

Gross Yield

15%

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 
£67K12/220.02 miApartment 59, Centenary Mill Court, New Hall Lane, Preston, Lancashire PR1 5JQ2
£44.5K10/200.02 miApartment 58, Centenary Mill Court, New Hall Lane, Preston, Lancashire PR1 5JQ2
£60K04/210.02 miApartment 59, Centenary Mill Court, New Hall Lane, Preston, Lancashire PR1 5JQ2
£60K04/210.06 miApartment 59, Centenary Mill Court, New Hall Lane, Preston, Lancashire PR1 5JQ2
£65K04/210.23 mi71, Wilbraham Street, Preston, Lancashire PR1 5NN2
£81K12/220.38 mi13, Grimshaw Place, Preston, Lancashire PR1 3BW2
£82K05/230.39 mi16, Grimshaw Place, Preston, Lancashire PR1 3BW2
£72.8K02/230.39 mi41, Grimshaw Place, Preston, Lancashire PR1 3BW2
£66K03/210.39 mi10, Grimshaw Place, Preston, Lancashire PR1 3BW2
£50K07/230.57 miFlat 240, Sandown Court, Avenham Lane, Preston, Lancashire PR1 3UQ2
£51K10/210.57 miFlat 214, Sandown Court, Avenham Lane, Preston, Lancashire PR1 3UQ2
£79.5K04/210.69 mi119a, Walker Street, Preston, Lancashire PR1 2RR2
£130K06/230.79 mi11, Edward Street, Walton Le Dale, Preston, Lancashire PR5 4BY2
£80K09/210.83 mi36a, Charnock Street, Preston, Lancashire PR1 6DR2
£105K01/231.25 miApartment 22, Old School Square, Burleigh Road, Preston, Lancashire PR1 8PW2
£67K10/201.26 mi77, Brackenbury Road, Preston, Lancashire PR1 7UQ2
£78K03/231.26 mi118, Elliott Street, Preston, Lancashire PR1 7XN2
£85K12/221.3 mi12, South Meadow Lane, Preston, Lancashire PR1 8JN2
£97K01/231.34 mi2, Abbey Street, Ashton On Ribble, Preston, Lancashire PR2 2QD2
£80K06/211.4 mi5, Seymour Court, Preston, Lancashire PR1 7PT2
£61.5K12/221.42 miFlat 6, Guardian Close, Poole Road, Fulwood, Preston, Lancashire PR2 8EX2
£52.5K04/211.42 miFlat 21, Guardian Close, Poole Road, Fulwood, Preston, Lancashire PR2 8EX2
£59.4K10/201.42 miFlat 14, Guardian Close, Poole Road, Fulwood, Preston, Lancashire PR2 8EX2
£83K10/211.59 mi51, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£86K03/231.59 mi70, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£90K11/221.59 mi49, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£90K05/231.59 mi45, Royal Drive, Fulwood, Preston, Lancashire PR2 3AF2
£128K05/231.66 mi86, Holland House Road, Walton Le Dale, Preston, Lancashire PR5 4JG2
£131K05/231.66 mi86a, Holland House Road, Walton Le Dale, Preston, Lancashire PR5 4JG2
£25.2K06/231.66 mi3, Glenview Court, Ribbleton, Preston, Lancashire PR2 6EG2
£50K10/211.67 miFlat 4, Birchall Lodge, Grange Avenue, Ribbleton, Preston, Lancashire PR2 6PF2
£23.5K02/211.67 miFlat 2, Travers Lodge, Grange Avenue, Ribbleton, Preston, Lancashire PR2 6PF2
£48.5K01/211.67 miFlat 4, Elston Lodge, Grange Avenue, Ribbleton, Preston, Lancashire PR2 6PF2
£92K05/211.67 mi7, The Fieldings, Fulwood, Preston, Lancashire PR2 3BB2
£75K11/201.67 mi25, Derby Road, Fulwood, Preston, Lancashire PR2 8JJ2
£108K03/221.68 mi184, Holland House Road, Walton Le Dale, Preston, Lancashire PR5 4HY2
£102K07/221.69 mi182, Holland House Road, Walton Le Dale, Preston, Lancashire PR5 4HY2
£115K04/211.7 mi75, Neapsands Close, Fulwood, Preston, Lancashire PR2 9AQ2
£108K05/221.7 mi188, Holland House Road, Walton Le Dale, Preston, Lancashire PR5 4HY2
£100K09/211.7 mi198, Holland House Road, Walton Le Dale, Preston, Lancashire PR5 4HY2
£110K04/211.7 mi206, Holland House Road, Walton Le Dale, Preston, Lancashire PR5 4HY2
£47K05/211.73 miFlat 3, Beacon Lodge, Fir Trees Place, Ribbleton, Preston, Lancashire PR2 6FL2
£105K07/211.77 mi36, Dorchester Avenue, Walton Le Dale, Preston, Lancashire PR5 4PE2
£116K09/231.77 mi39, Dorchester Avenue, Walton Le Dale, Preston, Lancashire PR5 4PE2
£126K11/201.77 mi16, Dorchester Avenue, Walton Le Dale, Preston, Lancashire PR5 4PE2
£114K10/201.77 mi43, Dorchester Avenue, Walton Le Dale, Preston, Lancashire PR5 4PE2
£160K01/211.77 mi3, Trafalgar Close, Ashton On Ribble, Preston, Lancashire PR2 2HG2
£102.5K10/201.82 mi52, Fareham Close, Walton Le Dale, Preston, Lancashire PR5 4JX2
£115K05/231.82 mi52, Fareham Close, Walton Le Dale, Preston, Lancashire PR5 4JX2
£104K06/211.84 mi7, Halliwell Heights, Walton Le Dale, Preston, Lancashire PR5 4NT2

Local Rents

49 rents from £575/mo to £1.5K/mo, average is £895/mo.

RentDateDistanceAddressBeds 
£75006/240.02 miCentenary Mill, New Hall Lane2
£80008/240.02 miCentenary Mill, Preston2
£79508/240.02 miCentenary Mill Court, New Hall Lane, Preston, PR12
£89501/250.02 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
£75003/250.03 mi-2
£85003/250.05 mi-2
£75008/240.05 mi-2
£75008/240.05 mi-2
£57506/240.06 miKayley House, Preston2
£57507/240.06 miKayley House, New Hall Lane, Preston2
£67507/240.09 miMercer Street, Preston, PR12
£70006/240.09 miWoodrow House,Mercer Street, Preston, PR1 4LQ2
£60007/240.12 miCromford Walk, Preston2
£75012/240.25 mi-2
£62502/240.29 mi-2
£57503/250.3 mi-2
£1,00011/240.31 mi-2
£93003/250.31 mi-2
£72507/240.31 miCaroline Street, Preston2
£80012/240.31 mi-2
£75008/240.32 miSkeffington Road, Preston, PR12
£1,15006/240.33 miThe Exchange, Percy Street, Preston2
£1,20006/240.33 miThe Exchange, Percy Street, Preston2
£1,25506/240.33 miThe Exchange, Percy Street, Preston2
£1,35006/240.33 miThe Exchange, Percy Street, Preston2
£1,17506/240.33 miThe Exchange, Percy Street, Preston2
£1,35006/240.33 miThe Exchange, Percy Street, Preston2
£1,20006/240.33 miThe Exchange, Percy Street, Preston2
£1,50006/240.33 miThe Exchange, Percy Street , Preston2
£1,00006/240.33 miThe Exchange, Percy Street, Preston2
£1,14506/240.33 miThe Exchange, Percy Street, Preston2
£1,25006/240.33 miThe Exchange, Percy Street, Preston2
£1,14506/240.33 miThe Exchange, Percy Street, Preston2
£1,00006/240.33 miThe Exchange, Percy Street, Preston2
£1,15007/240.33 miThe Exchange, Percy Street, Preston2
£1,15007/240.33 miThe Exchange, Percy Street, Preston2
£1,28007/240.33 miThe Exchange, Percy Street, Preston2
£1,10007/240.33 miThe Exchange, Percy Street , Preston2
£1,27006/240.33 miThe Exchange, Percy Street, Preston2

Local Area Statistics

Population in PR1

72,064

Population in Preston

286,036

Town centre distance

0.55 miles away

Nearest school

0.10 miles away

Nearest train station

1.02 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+3%

Sales demand

Seller's market

Capital growth (5yrs)

+17%

Property History

Listed for £70,000

August 28, 2024

Sold for £55,000

2020

Sold for £161,995

2005

Floor Plans

Description

  • Chain Free +
  • Priced To Sell +
  • Ideal Investment Opportunity +
  • Shops And Amenities Nearby +
  • Close To Schools And Motorways +
  • Close To Public Transport +
  • City Centre Location +
  • Apartment +
  • 2 Bedrooms +
  • Three Piece Bathroom +

INVESTORS-Fully modernised, chic and stylish 2-bed/2 bath Duplex apartment with ALL FURNITURE included
Ideal investment with a 9% NET YIELD, based on professional tenant income of £895 pcm. Private parking, walking distance to local amenities/transport/City centre. This has the WOW factor!
CASH BUYERS ONLY

Contemporary Duplex Apartment within easy reach of the City Centre. Recently Renovated and Modernised to a great standard. With ALL FURNITURE included, this offers the perfect opportunity for the buy-to-Let investor to pick up the keys and earn money straight away.

The open plan living & dining area consists of triple-height ceilings, laminate floor, painted walls as well as a kitchen area consisting of wall and base units with contrasting worktops. The clearly designated zoned loft-style living exudes the vibes of metropolitan living.

The primary bedroom, enclosed and overlooking the living area, offers an oasis of calm and is tastefully decorated and benefits from an en-suite. 

The uber cool bathroom is a boutique-inspired retreat after a hard days work, as is the super cool en-suite with its walk-in shower.

Parking is available on site.

Also includes allocated and secure car parking, with close links to the motorway viewing is highly recommended to appreciate this stunning apartment situated in a highly sought after area.

INVESTOR INFORMATION  

For an investor it provides a yield of approx 9% NET on a £75,000 purchase price (10% on a £70,000 purchase price)

The property is currently rented with tenants in Situ 

Rental of £895 pcm / £10,740 per annum

Tenant in situ-Profession, working

Service charge -Approx £280 per month 

Ground rent - Approx £317 per annum 

Lease-125 from 2005

EPC rating D

Council Tax B

Hallway
laminate flooring, lighting, access to all rooms, spiral staircase to first floor bedroom and ensuite.

Bedroom 1
Carpets, painted walls, double glazed window, electric heating, ceiling light.

Bathroom
W/C, pedestal wash hand basin, bathtub with shower, radiator, tiles walls and floor, extractor fan and lighting.

Open Plan Kitchen
Wall and base units, contrasting worktops, tiles back splash, extractor fan, built in and freestanding appliances, laminate flooring with patterned boarder.

Open Plan Living Space
Laminate flooring, paint high walls and ceilings, large double glazed windows, electric heating, lighting and very spacious.

Bedroom 2
Carpets, painted walls, Mezzanine, electric heating, ceiling light access to the en suite.

Ensuite 
W/C, hand basin, shower cubicle, painted walls, radiator, vinyl flooring and lighting.

Viewings are strictly through Kingswood on an appointment basis only.

Please contact Kingswood on

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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