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Marine Road Central, Morecambe, LA4 - Image 1
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Marine Road Central, Morecambe, LA4

North West

£525,000
Listed on 13/08/2024

Property Details

Bedrooms
10
Type
Detached house

Description

This expansive property presents a unique opportunity for renovation and investment, making it an ideal candidate for those looking to capitalize on the booming tourism market in Morecambe. Currently operating as a hotel with 10 bedrooms, the building offers versatile spaces that could be transformed into six serviced apartments, along with a manager's apartment and designated parking facilities. Nestled along the picturesque promenade, this location boasts breathtaking views of Morecambe Bay and is conveniently situated near the heart of town. Residents and guests alike will appreciate easy access to a variety of local shops, restaurants, and attractions, including the iconic Midland Hotel. The scenic waterfront is just steps away, providing opportunities for leisurely walks or runs while enjoying stunning sunsets over the bay. The Lubin Hotel is characterized by its double-fronted design and historic charm, having previously hosted notable visitors and featuring in local media such as "The Bay" TV series. This property not only has a rich history but also retains significant potential for future development. With granted planning permission for conversion into residential apartments, savvy investors can envision enhancing the existing layout to maximize both aesthetic appeal and rental income. The rear yard currently includes a detached garage, with additional possibility for off-street parking at the front and rear of the property. The versatility of this building combined with its prime location means that there are endless possibilities for those willing to invest their vision into revitalizing this historic site. Whether repurposing it as serviced apartments or maintaining its hospitality function with updates, this property truly offers an exceptional canvas for creative investment strategies.

Investment Analysis

(LA4 area)
Area Average
£198/sq ft
Avg Rent (weekly)
£181
Avg Yield
4.8%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£250,000 - £400,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
22
Average per month
Market Turnover
7%
Properties sold annually

Local Market Trend (LA4)

Area prices are rising by +7.4% over the last 12 months
3 year growth: 9.4%
5 year growth: 25.8%
Investment Disclaimer: Analysis based on LA4 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

Marine Road Central, Morecambe, LA4
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,923
Based on a loan of £393,750 over 30 years at 4.19% 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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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE