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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 extensive 62-bedroom hotel is a prominent five-storey property located along the scenic seafront in North Shore, Blackpool. Having been out of operation for several years, the hotel presents a significant renovation opportunity for investors looking to revitalize a large space in a sought-after area. The property's current condition necessitates comprehensive refurbishments, which is reflected in its attractive pricing. Included are provisions for guest parking with a small car park accommodating four vehicles and a rear yard area that can be utilized further. This property holds immense potential for transformation into a lucrative hospitality venture.

Investment Analysis

(FY1 area)

Below Market Value

This property is priced -21.6% below area average per sq ft

-21.6%
Potential saving
This Property
£84/sq ft
Area Average
£107/sq ft
Avg Rent (weekly)
£142
Avg Yield
6.6%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£750,000 - £1,200,000
Target Value
£666,232
10% above area average per sq ft
Potential ROI
-60.2%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
39
Average per month
Market Turnover
13%
Properties sold annually

Local Market Trend (FY1)

Area prices are stable by -0.8% over the last 12 months
3 year growth: -5.5%
5 year growth: +11.4%
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 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£1,794
Based on a loan of £356,250 over 30 years at 4.45% 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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