Property Details: - Type: Block of apartments - Bedrooms: 8 - Bathrooms: 8
Agent: Keller Williams Plus - Essex Phone: 01277 576084
An exceptional opportunity to acquire a fully converted and comprehensively refurbished freehold residential block comprising six self-contained apartments, positioned just 0.5 miles from Preston Mainline Station and 0.6 miles from Winckley Square.<br/><br/>Extensively renovated approximately four years ago, this elegant period building has been sympathetically restored and re-engineered to create four one-bedroom and two two-bedroom apartments, all finished to a strong modern rental specification while retaining attractive original architectural features.<br/><br/>Each apartment is individually metered and currently let on Assured Shorthold Tenancies to professional tenants, generating a fully contracted gross annual income of £57,240, with scope for modest rental growth.<br/><br/>The building combines classic period character, including striking sandstone detailing, decorative cornicing, impressive windows and an imposing entrance, with efficient internal layouts designed for modern city living. The front approach is framed by a bay tree-lined pathway, setting a tone of quality and permanence, while a communal courtyard to the rear provides additional amenity space for residents.<br/><br/>Investment Highlights<br/><br/>Freehold residential block<br/><br/>6 self-contained apartments (4 x 1 bed, 2 x 2 bed)<br/><br/>Fully let to professional tenants<br/><br/>£57,240 per annum gross income (fully contracted)<br/><br/>Refurbished and converted circa 4 years ago<br/><br/>Separate utilities/meters to all units<br/><br/>0.5 miles to Preston Mainline Station<br/><br/>0.6 miles to Winckley Square<br/><br/>Scope for rental uplift<br/><br/>Suitable for investors, serviced accommodation operators or funds<br/><br/>Location & Growth Narrative<br/><br/>Preston has emerged as one of the North West’s strongest performing rental markets, underpinned by:<br/><br/>A £1bn City Deal programme<br/><br/>£434m infrastructure investment<br/><br/>£50m Markets Quarter regeneration<br/><br/>20,000 projected new jobs<br/><br/>17,000 new homes planned<br/><br/>UCLan’s ongoing campus expansion<br/><br/>Major employers including BAE Systems and Royal Preston Hospital<br/><br/>With direct rail connections to London (approx. 2 hours), Manchester, Liverpool, Birmingham, Edinburgh and Glasgow, Preston offers strategic connectivity combined with relatively affordable rental levels, creating strong and consistent tenant demand.<br/><br/>The city’s thriving bar, restaurant and leisure scene, proximity to Avenham and Miller Parks, and access to the Lake District (approx. 1 hour) further enhance its appeal to young professionals.<br/><br/>Asset Positioning<br/><br/>This opportunity will appeal to:<br/><br/>Hands-off buy-to-let investors seeking a stabilised, income-producing asset<br/><br/>Serviced accommodation operators (subject to consents)<br/><br/>Family offices and investment funds seeking small-lot residential block exposure<br/><br/>Portfolio landlords looking to acquire scale in a single transaction<br/><br/>With income secured and operational infrastructure already in place, this represents a turnkey residential investment in a city with clear long-term growth trajectory.
