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Alexandria Drive, Lytham St. Annes, FY8 7 bed block of apartments for sale
Alexandria Drive, Lytham St. Annes, FY8
£500,000
Alexandria Drive, Lytham St. Annes, FY8
£500,000
Our Summary
- * EXCELLENT INVESTMENT OPPORTUNITY – 4 FLATS, LARGE COMMERCIAL SHOP WITHBASEMENT, PLUS FURTHER DEVELOPMENT POTENTIAL (STPP)
- Call Unique Estate Agency today *Welcome to Alexandra Drive, a highly attractive mixed-use investment opportunity set in a sought-after location close to the sea front
- The property comprises a substantial ground-floor commercial unit, currently trading as a convenience store, which also benefits from a large basement, offering excellent storage or future development potential
- The property also includes additional land to the side, presenting significant scope for further expansion
- Subject to the relevant planning permissions, this space offers potential for: • A new commercial unit with two flats above, or • Up to three additional residential flats
- A garage with forecourt parking further enhances the property and may also be suitable for redevelopment (STPP)
- We are advised that the current rental and commercial income is approximately £38,000 per annum, with an anticipated uplift to around £45,000 per annum through rental optimisation
- There remains even greater potential to increase returns if the extension and development opportunities are realised* Call Unique Estate agency for more information *
- **INVESTMENT OPPORTUNITY **
- **investment opportunity **
- *investment opportunity *
- POTENTIAL TO DEVELOP - With Necessary Permissions
- Potential to develop - With Necessary Permissions
Description
This mixed-use investment property on Alexandra Drive offers an excellent opportunity to generate significant rental income and potentially increase returns through development and expansion. The property comprises a large commercial shop with basement, currently trading as a convenience store, as well as four self-contained flats, including one 2-bedroom and three 1-bedroom apartments. The property also features additional land to the side, offering potential for further expansion, such as a new commercial unit with flats above or up to three additional residential flats, subject to planning permissions. The current rental income is approximately £38,000 per annum, with potential to increase to around £45,000 per annum through rental optimisation, and even greater potential for growth if the extension and development opportunities are realised.