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AGENT'S DETAILS


Award Winning ApartHotel in Prime Location

For sale: £1,000,000.00|Residential, House, Hotels, Licensed & Leisure

PROPERTY DETAILS

FOR SALE£1,000,000.00
ADDRESSParamount Aparthotel, 2A Victoria Road, Lytham St. Annes, Lancashire, FY8 1LE
TYPEResidential, House, Hotels, Licensed & Leisure
TENUREBusiness for sale, Investment Opportunity, For Sale Freehold
POSTED ON14th October 2020

DESCRIPTION

Paramount ApartHotel, 2a, Victoria Road, Lytham St Annes, Lancashire, FY8 1LE

Paramount Aparthotel, located in the heart of Lytham St Annes, comprise 5 individually-designed Serviced Apartments, each with its own bedroom; private bathroom; kitchen and a lounge with dining area.

Paramount Apartments (sometimes known as an 'aparthotel') are luxuriously furnished and equipped, with an emphasis on style, comfort, and tranquillity. The apartments are conveniently located in a quiet, leafy residential area of St. Annes-on-Sea, only a 5 minute walk from the beach; the promenade, and the famous Royal Lytham Golf Club, and just a little more to St. Annes Square with its wide selection of shops; supermarkets; cafés; restaurants, and bars.

Three other championship golf courses of Fairhaven, St Annes Old Links and Lytham Green Drive are all less than an 8 minute drive away.

Paramount Apartments offer:-

Both holiday as well as longer-term lettings

Serviced Executive accommodation

Perfect for a single person or a couple

Quality-furnished and well equipped throughout

Free super-fast Wi-Fi throughout each apartment

Smart TVs with SKY+

Free unrestricted on-street car parking

Income
The property has been self-managed at 50% occupancy by the current owners due to their age and personal limitations.

Gross Income for 2019/20 - £97,430 pa (£8,119.16 pm)

We have had the property assessed by a local serviced accommodation operator and we feel that gross revenue across the 5 apartments should be in the region of £150,000 PA, based on a peak of £300 per night, per apartment in the high season and allowances for voids and reduced income for the winter months.

Since the pandemic income has picked up dramatically for example (From 4th) July 2020 Income of £10,120 - Occupancy 88 % as compared to July 2019 Income of £12,98 - Occupancy 73%. August 2020 Income of £14,240 Occupancy 90% as compared to Aug 2019 Income of £13,040- Occupancy 72%. September 2020 Income of £12,344 Occupancy 84%, as compared to Sept 2019 Income of £8,484 -Occupancy 53%

A gross yield of 15+% would be achievable

Features
Award Winning ApartHotel

Immaculate Interior

5 Beautiful Apartments

Excellent Income Potential

Buyers Fee of 2% + VAT applies

Buyer's Fee
2% + VAT Buyers Fee

LOCATION

Location: Paramount Aparthotel, 2A Victoria Road, Lytham St. Annes, Lancashire, FY8 1LE

St Annes-on-the-Sea (0.5 miles)

Ansdell & Fairhaven (1.1 miles)

Poulton-le-Fylde (1.3 miles)

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