Block of Flats – 24 Wellington Road 

Asking Price: 
£175,000 
 
Current Rent: 
£16,379.95 (Per Annum) 
 
Market Rent: 
£19,800 (Per Annum) 
Managed by TPSY 
Block of Flats 
Tenanted 
Flat 1 
Flat 2 
Flat 3 

Block of Flats – 24 Wellington Road, Bridlington, YO15 2BG 

Property Type: 
6x Tenanted, 3 Self-Contained Flats (3x 2 Bed Flats) 
Key Features: 
Managed by TPSY 
Residential 
Block of Flats 
Tenanted 
6 Bedrooms 
3 Bathrooms 
Gas Central Heating 
UPVC Windows 
On Street Parking 
Freehold 
Minor Works Advised 
 
 
 
 
 

Please click below to request a viewing on this property, we will be in contact with you to discuss your request and the availability to view the property. 

 
 
 
 
 
 
Property Details 
The Property Shop Yorkshire is delighted to offer to the Off Market this Freehold 3x Self-Contained Block of Flats on Wellington Road in Bridlington. Each property is currently tenanted which provides a great opportunity for an investor to purchase a cash-generating asset from day one. 
The property comprises: 
Flat 1 
- Ground Floor Flat 
- 2 Bed – 1x Tenants 
- Current Rent: £346.15 - 4 Weekly 
- Market Rent: £550 - Monthly 
- Over 1 Floor 
- Front of Property - Lounge 
- Central in Property - 2x Bedrooms 
- Rear of Property - Kitchen, Bathroom 
Flat 2 
- First Floor Flat 
- 2 Bed – 1x Tenants 
- Current Rent: £490 – Monthly 
- Market Rent: £550 - Monthly 
- Over 1 Floor 
- Front of Property - Living Room, Bedroom 
- Central in Property - Kitchen, Bedroom 
- Rear of Property - Bathroom 
Flat 3 
- Second Floor Flat 
- 2 Bed - 1x Tenants 
- Current Rent: £500 - Monthly 
- Market Rent: £550 - Monthly 
- Over 2 Floors 
- Front of Property - Lounge, Bedroom 
- Central in Property - Bathroom, Kitchen 
- Rear of Property - Bathroom WC 
- Second Floor - Large Storage Room 
 
 
 
 
 

Condition Report 

The buildings communal areas are in good condition and kept tidy and clean with the exterior of the building door and door ways also okay. There are no major defects and each flat is in various levels of lettable conditions. 
 
Flat 1 
- Had a new bathroom fitted July 2024 
- Upon relet – flat would need a light paint and decoration throughout with potentially a consideration of fitting new carpets 
 
Flat 2 
- Upon relet – flat would need a light paint and decoration throughout with potentially a consideration of fitting new carpets 
 
Flat 3 
- Partial repair to the roof from a leak into the top bedroom, light water stain damage to the ceiling and decor which needs redecoration and painting. 
- Upon relet – the rest of the flat is all in okay condition and wouldn’t need much work applied 

Rental Information 

Current Rent 
£1,364.99 PCM - £16,379.95 Per Annum 
 
Market Rent 
£1,700 PCM - £19,800 Per Annum 
 
Tenancy Agreement 
3x 6 Month Assured Shorthold Tenancy Agreements in place 

Comparables 

Prices of various single flats and blocks of flats on Wellington Road and surrounding areas. 
 
OnTheMarket as of date 19th June 2024: Showing results dating back to 30th July 2021 
Flat 1, 34 Wellington Road, Bridlington, YO15 2BG 
£42,500 Flat, Leasehold 03Apri1 2023 
10 Wellington Road, Bridlington, YO15 2BG 
£260,000 Freehold 13 March 2023 
£152,500 Freehold 13 October 2020 
£195,000 Terraced, Freehold 01 February 2008 
Flat 3, 38 Wellington Road, Bridlington, YO15 2BG 
£65,000 Flat, Leasehold 24 June 2022 
£44,000 Flat, Leasehold 28 lune 2018 
Flat 9, 34 Wellington Road, Bridlington, YO15 2BG 
£47,500 Flat, Leasehold 14 June 2022 
£73,500 Flat, Leasehold 12 August 2010 
32 Wellington Road, Bridlington, YO15 2BG 
£340,000 Detached, Freehold 27 May 2022 
Flat 2, 38 Wellington Road, Bridlington, YO15 2BG 
£63,500 Flat, Leasehold 08 November 2021 
£54,250 Flat, Leasehold 26 October 2006 
£45,950 Flat, Leasehold 23 August 2004 
Flat 5, 38 Wellington Road, Bridlington, YO15 2BG 
£50,000 Flat, Leasehold 30 July2021 
£19,000 Flat, Leasehold 24 October 2002 
£18,000 Flat, Leasehold 31 October 1996 
£26,500 Flat, Leasehold 10 February 1995 
 
 
 
 
 

Compliance 

Gas Safety Certificate 
Available digital on file – available upon requesting a viewing 
Electrical Installation of Condition Report (EICR) 
Available digital on file – available upon requesting a viewing 
Energy Performance Certificate (EPC) 
Available digital on file - available upon requesting a viewing 
Flat 1: 
Energy Rating: D 
Current: 64 
Potential: 74 
Flat 2: 
Energy Rating: C 
Current: 71 
Potential: 79 
Flat 3: 
Energy Rating: E 
Current: 50 
Potential: 78 
Council Tax Band: A 

Figures Estimated upfront costs below 

Deposit: 43,750 (25% of Purchase Price) 
 
Stamp duty: 5,250 (3% of Purchase Price) 
 
Broker fee: £500 (Est.) 
 
Solicitor fee: £1,200 (Est.) 
 
TPSY fee: £3,150 (1.8% Inc VAT) 
 
Total: £53,850 
 
Current Yield: 9.4% (11.3% at Market Rent) 
Buyer Disclaimer: 
The Property Shop Yorkshire (the Agent) will ensure that all information held in the property particulars is accurate to the best of our knowledge at all times. We advise any potential buyers to conduct their own viewing of the property. The Agent has not checked the legal documentation to verify the legal status of the property or the validity of any guarantee. A buyer must assume the information is incorrect until it has been verified by their own solicitors. Nothing concerning the type of construction or the condition of the structure is to be implied from the photograph of the property. These details are prepared as a general guide only, and should not be relied upon as a basis to enter into a legal contract or to commit expenditure. An interested party should consult their own surveyor, solicitor, or other professionals before committing themselves to any expenditure or other legal commitments. The sales particulars may change in the course of time, and any interested party is advised to make a final inspection of the property prior to the exchange of contracts. If the property is sold tenanted and not managed by the Agent, they cannot be held responsible for the accuracy, legitimacy, or detail in the tenancy agreements and supporting tenancy documentation. 
 
We can recommend solicitors, brokers and surveyors to support the investigation and verification of these particulars, however, we take no accountability for their findings. They act as independent advisors. 

Floorplan 

N/A for this Property 
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