An East Lancashire apartment block which has recently undergone a range of improvements has hit the market.
Melbourne House, in Eastgate, Accrington, consists of 45 self-contained apartments, with a mix of studio, one-bed, and two-bed properties.
The building used to be offices for the Department of Work and Pensions, and was proposed to become flats back in 2018.
The listing, marketed by JH Asset Management, which is based in Chester, says there has been no less than a 95 per cent occupancy rate since 2020, and at full capacity, the annual rental income is close to £300,000.
The property, which has gone on the market for £3million, has undergone improvement works since 2020, including a new roof and re-sealing of all external windows.
JH Asset Management describes the property as a “fantastic investment opportunity” with space for additional income streams.
These include the potential for vending machines in the communal spaces on each floor and a laundry room in the basement of the building.
The property also benefits from a secure intercom entry system and the car park is allocated to building residents on a first-come first-served basis.
The building, in a prime location close to Accrington town centre and the train station, hit the market this week.
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