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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 31/12/2022

Property Details

Bedrooms
N/A
Type
Detached house
Area
5687 sqft

Description

This is a significant investment opportunity in Blackpool, comprising a sizable 62-bedroom hotel situated in a prime seaside location. The property spans three blocks over five storeys and boasts a prominent position in North Shore. Having been inactive for several years, the hotel requires comprehensive refurbishment to restore it to its former glory. The competitive pricing reflects the scale of redevelopment needed, making this a potentially lucrative project for investors or developers looking to tap into the area's hospitality sector. Additionally, there is limited parking for guests with a small front car park accommodating four vehicles and a compact yard area at the rear.

Investment Analysis

(FY1 area)

Below Market Value

This property is priced -20.8% below area average per sq ft

-20.8%
Potential saving
This Property
£84/sq ft
Area Average
£105/sq ft
Avg Rent (weekly)
£150
Avg Yield
7.0%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£800,000 - £1,200,000
Target Value
£659,351
10% above area average per sq ft
Potential ROI
-60.6%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
43
Average per month
Market Turnover
21%
Properties sold annually

Local Market Trend (FY1)

Area prices are rising by +5.3% over the last 12 months
3 year growth: -3.0%
5 year growth: 15.6%
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

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£
£
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years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,740
Based on a loan of £356,250 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