Blackpool social club with £60,000 guide price set to go to auction

Blackpool is on the up again and 2018 will see a number of significant property investment projects coming to fruition. A multimillion pound rollercoaster, hotel in the resort and new conference centre are all amongst plans to give the iconic seaside resort a lift.

Property investment is increasing too with a number of new housing developments taking place. In light of this, as part of its latest monthly online auction, John Pye Property is bringing a fantastic property investment opportunity to market.

Carty’s social club is up for sale at a guide price of £60,000 – located on the eastern side of George Street in the heart of the seaside resort close by to the famous Blackpool Tower and visitor attractions, this freehold property is a real opportunity for a developer to take on as the town enjoys a period of regeneration.

The two-storey social club has the potential to be developed into a mixed-use residential and retail scheme situated predominantly in a residential area. The property will be auctioned at John Pye’s January sale taking place on Wednesday 24 and Thursday 25 January.

Richard Reed MRICS, head of property at John Pye Property, said:

“As a freehold property, there is a real investment opportunity here for a local developer to take this project on. The upper floor has the potential to be converted into three two-bedroom apartments, with the ground floor up for rental as a retail space.

“Should the property be developed into a mixed use scheme, we would expect a minimum income of £12,000 per annum could be achieved from renting out the ground floor. On the other hand, the apartments could achieve anywhere between £60,000 to £80,000 sale price depending on specification and finish or if up for rent, around £6,600 per apartment each year.

“As this property is being sold on behalf of joint LPA Receivers we expect strong interest from prudent investors who can capitalise on the potential of the building.”

Online auctions are fast becoming a conventional way to buy and sell properties and more people are using the method to boost their property portfolio.

“Our unique expertise across online auctions means the way we sell property online is a real unique selling point for vendors and is distinctive across the industry,” Richard added.

“The John Pye online property auction has grown significantly since its inception and with monthly online auctions there is constantly new property stock being offered to the market.”

John Pye Property regularly features properties from across the UK including residential, commercial and buy-to-let properties. Its latest monthly online property auction will go live on Wednesday 24 and Thursday 25 January.

Visit www.johnpye.co.uk/property-auc tions to bid or phone 0115 970 6060 for more information. Viewings are available by appointment.