Keller Williams UK
1 bed Flat / Apartment For Sale

The Sorting Office, 42 West Cliff

£90,000 Offers Over

Property Description

  • When calling please quote LBMB
  • Tenanted so investors only
  • 5.6% yield
  • Communal roof terrace
  • Walking distance to Local Parks & Marina
  • SMART Technology / Fob access Communal Rooftop Garden
  • Private Gated Car Park with Fob Access

A one bedroom apartment with a communal roof terrace and a parking space, what more could your tenant ask for?

Well how about a abundance of natural light, top-of-the-range fixtures and fittings, the perfect location only minutes from all amenities and Preston Rail station with direct links to Manchester, London and other parts of the country.

City centre living in Preston has never been so attractive for young professionals as we now have a thriving bar and food scene with something for everyone. From small independent artisan burger bars, street food venue right up to renowned eateries.

Many working professionals look upon Preston favourably as they can work hard and rest up on weekends in more picturesque locations such as the Lake District, just a 1 hour journey from Preston. The city is also surrounded by countryside and is just 30 minutes away from Lytham St Anne’s and the beaches there.

Whether you are a hands-on landlord or a hands-off investor this fully let apartment ticks all the boxes.

Why invest in Preston?

Preston itself is one of the UK's best markets for buy to let investors and has been identified as such by various sources. The Preston Economy is proving resilient and performing well thanks to the £1bn City Plan which is set to provide 20,000 jobs to the area, and the University of Central Lancashire provides a steady stream of educated graduates the majority of whom require high quality rental accommodation in buildings such as The Sorting Office. These young professionals are also taking advantage of the relatively cheap rents as well as excellent direct rail connections to Manchester, Liverpool, Birmingham, Edinburgh, Glasgow and London.

Preston - Investment & Regeneration
Preston has secured £434 million investment from central government as part of the city deal scheme. This has mainly been spent on infrastructure projects and will help create 20,000 new jobs and over 17,000 new homes in the area. In addition to this money has been spent on the part pedestrianisation of the main shopping area as well as over £1m on the regeneration of Winckley Square, an beautiful Georgian square with gardens at the centre.

There is a very well thought out plan for continuing the growth of the city, and this has been lauded up and down the country for its vision to create a sustainable environment which attracts further investment. This is in place to ensure the long term development and growth of the city.

A further £50m has been earmarked for the redevelopment of the Markets Quarter. This regeneration plan will comprise of an 11-screen cinema, seven family restaurant units and a new multi-storey car park.

All of this will provide a huge boost to the local economy, which is expected to grow by £1bn over the next 10 years.
Employment and education.
Preston has many significant employers such as the NHS and BAE systems. At Royal Preston Hospital alone, there are 7,000 employees and BAE have three sites within minutes of the city centre and two further out. This is going to grow with BAE announcing their biggest ever apprentice drive.

Employment is growing all the time and there are 800,000 working people within a 35km radius of Preston giving a huge pool of tenants.
UCLAN is a growing university and is offering more and more professional courses and expanding their departments, for example dentistry and engineering. The university is investing in the city and have completed a wonderful new engineering building as part of a in a 5-year cycle of investment. The latest is the development of the Adelphi roundabout at the cost of £200m.

Huge numbers of students come to the North West of England to study at the numerous higher educations’ sites and colleges in the area. With UCLAN and LU being 2 of the larger universities, the North West is home to Edge Hill University, a well-known teaching university.

Once students have completed their courses – they stay on in the area with a rate of roughly 1 in 3 students staying on in roles and positions they’ve found after graduating in the culture and environment they’ve spent years getting to know.

To discuss this property please contact Michael Bailey on:
Register your details

Let us help you find what you're looking for

Register today