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

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

North West

£475,000

Listed on 31/12/2022

Property Details

Bedrooms

N/A

Type

Hotel

Area

5687 sqft

Description

This expansive 62-bedroom hotel, set across three five-story blocks, is located in a prime sea front location in North Shore Blackpool. Having been non-operational for several years, the property presents an exciting opportunity for investors or developers looking to rejuvenate a once-thriving establishment. The below-market asking price reflects the extensive refurbishment needed to bring it back to operational status. The site also includes a small car park with capacity for four vehicles and a modest yard area at the rear, offering potential for further development or amenities.

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

£1,000,000 - £1,500,000

Target Value

£682,810

10% above area average per sq ft

Potential ROI

-65.4%

After renovation

Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.

Monthly Sales

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

Property Price

Household Income

Deposit

Deposit %

Interest Rate

Repayment Period

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.