160 Promenade
Overview
Property description
160 Promenade is situated on Blackpool’s iconic Promenade and boasts stunning sea views and easy access to Blackpool’s town centre. The property consists of 2x3 bedroom flats and one commercial shop that has the potential for conversion into a third three-bedroom flat. The property is in need of renovation to bring it up to modern standards. Well-executed renovations will significantly boost the property value and rental income.
Property features
Interior
Exterior
Nearby amenities
The property is ideally located along Blackpool’s promenade, providing access to a variety of amenities within walking distance of Blackpool’s key attractions. These include Blackpool Tower, the Pleasure Beach and Winter Gardens. The nearby area offers a wide range of restaurants, cafes and bars, as well as retail shops catering to tourists and locals alike.
Projected annual income
ROI
ROI analysis
The property will deliver a healthy income stream post-renovation with a high ROI of over 11%. The £70,000 equity gain adds significant value to the investment, pushing the first-year ROI to an outstanding 28.74% which is a remarkable return for any investor.
Development potential
The property currently comprises 2 x 3-bedroom flats and one commercial unit. The ability to convert the commercial unit into residential accommodation not only increases the rental income but also enhances the overall value of the property.
Purchase Costs
- Stamp duty (£8,750)
- Solicitors (£750)
- Insurance (£2,500)
Neighbourhood overview
The neighbourhood has a wide mix of properties including residential homes, holiday apartments and commercial shops. It’s an area that thrives on tourism and hospitality which makes it ideal for short-term rental properties.
Local market demand
With over 18 million visitors annually, Blackpool remains one of the most visited towns in the UK. This vibrant and ever-popular location ensures consistent demand for accommodation, particularly during holiday seasons, leading to high occupancy rates for Airbnb-style rentals. Platforms like Airbnb have grown in popularity with many visitors preferring the flexibility and comfort of short-term rentals compared to hotels.
Growth drivers
Blackpool is undergoing significant regeneration, with millions invested in infrastructure, tourism and local businesses. This is leading to rising property values and an overall improvement in the town's attractiveness to visitors and investors.
Expert opinion
160 Promenade, offers investors the chance to achieve strong rental yields and capital appreciation in a desirable and highly-sought-after location. With significant Airbnb income potential, an excellent first-year return and a prime location, this investment is well-suited to those looking for a mix of cash flow, appreciation and added value through refurbishment.
What makes 160 Promenade investable?
The standout feature of this property is its prime location on Blackpool’s promenade. Offering immediate cash flow from short-term holiday lets and an expected £70,000 equity gain post-renovation, investors can benefit from instant capital gains. Blackpool’s consistently high rental demand ensures long-term income stability, while its status as a top tourist destination guarantees a steady stream of short-term holiday makers, making this property a highly attractive investment.
