Major £1.45m investment will transform eyesore Blackpool Promenade property for 'young professionals'
‘It’s really starting to take shape’
An eyesore property at the heart of Blackpool’s tourist strip is undergoing a £1.45m transformation.
The three-storey house at 186 Promenade is being converted into 25 flats - one and two bedroomed and studio style accommodation - to attract young professionals to the town.
The property, opposite the Metropole Hotel, had fallen into a state of serious disrepair in recent years. It was occupied by squatters causing further damage to the property and there was increasing concern about its future.
But now the company behind it, having invested considerable funds in clearing the way and securing finance through Merryoaks Property Finance, work is finally underway.
Blackpool based Prism Properties is passionate about bringing decent places to love to Blackpool. The company has also bought neighbouring properties with plans to give them a massive overhaul too.
Behind the project is director Hamza Anwar who has already invested in 18 similar projects across Blackpool including rental Cozy Cottage.
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He is excited by the progression of the work and says ‘there is nothing already like it’ in Blackpool.
The self-contained flats will all be privately rented and within the complex there will be home working spaces, a communal laundry facility and a gym.
Hamza said: “There will be seven two bedroomed apartments and the rest will be a mixure of one bedroomed and open plan studios.
“We are targeting young professionals, between 25 and 35 years old. There aren’t any nice HMO’s in Blackpool and we identified a gap, good people want good places to live.”
“It’s full steam ahead at the moment, we are fitting a new roof, the electrics and plumping, plastering, new windows - it’s really starting to take shape - we have 14 people in today, working on it.
“We hope to have them ready by the end of November.”
“This property has been dilapidated for many years and the government has not been in a position to fix it, so its transformation is a testament to what I believe the private sector and property developers in the UK are all about.
Merryoaks founder Saam Lowni said: “The developers we support are the saviours of these run down, derelict buildings, bringing them back to life and giving them utility so people can have a safe roof over their heads."
A website will be created for people to register their interest.