4 bed flat for sale

Garstang Road, Preston PR2

An exceptional, turn-key residential investment opportunity located in a highly sought-after area of Preston. 172 Garstang Road has been meticulously converted into a block of four self-contained, one-bedroom apartments, offering an immediate, high-yielding income stream for property investors

With all units fully functional and self-contained, this block minimizes void periods and capitalizes on the robust, ever-growing rental demand for single-person and young professional accommodation in PR2

Starting Bid: £325,000

Total Annual Rental Income: £30,000

Gross Rental Yield: 9.23% (Based on starting bid)

Asset Type: Multi-Unit Freehold Block / Portfolio Booster

Financial Overview

Gross Annual Income: £30,000 (£7,500 per flat / approx. £625 pcm per unit)

Calculated Gross Yield: 9.23%

Investor Note: A yield exceeding 9% makes this a standout asset in the current market, significantly outperforming traditional single-buy-to-let averages and offering strong cash flow right from day one

Property Breakdown

The building has been thoughtfully reconfigured to maximize space, privacy, and modern living standards. Each apartment features:

Accommodation Layout: Open-plan living and kitchen area, a comfortable double bedroom, and a modern, fitted three-piece bathroom suite

Self-Contained Privacy: Separate utility meters (where applicable) and private access points ensuring independent living for each tenant

Condition: Well-maintained throughout, requiring zero immediate capital expenditure before letting or continuing tenancies

Location Highlights (PR2)

Garstang Road is a major arterial route offering superb connectivity and convenience, making it a perennial favorite for tenants:

Transport Links: Excellent proximity to local bus routes providing direct, frequent access into Preston City Centre, the University of Central Lancashire (UCLan), and Royal Preston Hospital. Easy access to the main motorway networks (M55 and M6)

Local Amenities: Walking distance to local convenience stores, supermarkets, popular cafes, and dining options

Tenant Demand: Positioned ideally for hospital staff, university staff/postgraduates, and local professionals seeking independent living spaces close to employment hubs

Key Investment Benefits

1. High Yield & Cash Flow: Delivering a lucrative 9.23% gross yield from a proven rental income of £30,000 per annum

2. Risk Diversification: Spread your rental risk across four separate income streams within a single freehold building-if one flat is vacant, three continue to generate revenue

3. Low Maintenance: Modern conversion standards mean lower initial upkeep and straightforward property management

4. Capital Growth Potential: Garstang Road remains a consistently desirable residential corridor in Preston, supporting strong long-term capital appreciation

Auction Disclaimer

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold)

If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding

A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding

The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax

Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Any payment that will be received by the Agent or Auctioneer will be confirmed to you in writing before services are taken. Services are optional

Disclaimer

Whilst we make enquiries with the Seller to ensure the information provided is accurate, Yopa makes no representations or warranties of any kind with respect to the statements contained in the particulars which should not be relied upon as representations of fact. All representations contained in the particulars are based on details supplied by the Seller. Your Conveyancer is legally responsible for ensuring any purchase agreement fully protects your position. Please inform us if you become aware of any information being inaccurate.

Money Laundering Regulations

Should a purchaser(s) have an offer accepted on a property marketed by Yopa, they will need to undertake an identification check and asked to provide information on the source and proof of funds. This is done to meet our obligation under Anti Money Laundering Regulations (aml) and is a legal requirement. We use a specialist third party service together with an in-house compliance team to verify your information. The cost of these checks is £82.50 +VAT per purchase, which is paid in advance, when an offer is agreed and prior to a sales memorandum being issued. This charge is non-refundable under any circumstances.