Richmond Road, Lytham St Anne’s, FY8

Overview

A freehold block of 10 flats, seven one-bedroom and three two-bedroom, in the heart of Lytham St Anne’s, fully tenanted and producing a documented £56,580 per annum (8.38% gross), with the vendor’s own schedule setting out planned increases to £59,700. A well-let town-centre block on a single title.

Investment highlights

• Freehold block of 10 flats (7 × 1-bed, 3 × 2-bed)
• Fully tenanted at a documented £56,580 p.a. (8.38% gross), with scheduled increases to £59,700
• Single title, with scope to split titles in time
• Town-centre Lytham St Anne’s , an affluent Lancashire coastal town

Location & demand

Richmond Road sits in the centre of Lytham St Anne’s, a short walk from the Square, the seafront and St Annes station on the Blackpool South line into Preston. FY8 draws a settled mix of local professionals, downsizers and retirees, and one- and two-bedroom flats of this kind are the staple of the town-centre rental market.

Lytham St Anne’s is consistently among the more affluent towns on the Lancashire coast, and this is a well-let block in the heart of it. All ten flats, seven one-bedroom and three two-bedroom, are tenanted, producing a documented £56,580 per annum at 8.38% gross, and the block is held on a single freehold title with scope to split titles in time.

The numbers

Asking price	£675,000
Gross rent pa	£56,580
Gross yield	8.38%
Tenure	Freehold, single title
Units	10 flats (7 × 1-bed, 3 × 2-bed)
Occupancy	Fully tenanted