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Parisienne Hotel, 240-244 North Promenade, Blackpool, Lancashire, FY1 1RZ - Image 1
Parisienne Hotel, 240-244 North Promenade, Blackpool, Lancashire, FY1 1RZ - Image 2
Parisienne Hotel, 240-244 North Promenade, Blackpool, Lancashire, FY1 1RZ - Image 3

Parisienne Hotel, 240-244 North Promenade, Blackpool, Lancashire, FY1 1RZ

North West

£475,000
Listed on 06/12/2022

Property Details

Bedrooms
N/A
Type
House
Area
5687 sqft

Description

This unique property comprises a sizeable former hotel featuring 62 bedrooms, situated in a prime location on the North Shore of Blackpool. The building spans three blocks and rises five stories, presenting an excellent opportunity for redevelopment. Having been out of operation for several years, it is in need of significant refurbishment, making it an appealing investment for those looking to revitalize the space. No financial records are available due to its non-trading status. Additionally, the property includes a front car park capable of accommodating four vehicles along with a small yard area at the rear, further enhancing its potential for redevelopment.

Investment Analysis

(FY1 area)

Below Market Value

This property is priced -23.5% below area average per sq ft

-23.5%
Potential saving
This Property
£84/sq ft
Area Average
£109/sq ft
Avg Rent (weekly)
£138
Avg Yield
6.3%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£800,000 - £1,200,000
Target Value
£682,810
10% above area average per sq ft
Potential ROI
-59.2%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
37
Average per month
Market Turnover
19%
Properties sold annually

Local Market Trend (FY1)

Area prices are stable by +1.9% over the last 12 months
3 year growth: -4.9%
5 year growth: +13.3%
Investment Disclaimer: Analysis based on FY1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Parisienne Hotel, 240-244 North Promenade, Blackpool, Lancashire, FY1 1RZ
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£1,713
Based on a loan of £356,250 over 30 years at 4.06% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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