A fully operational serviced apartment block investment
10 CAMDEN PLACE, PRESTON PR1 3JL, UK
OFFERS IN EXCESS OF £2,000,000, stc
Contact us for more details about this property
investment summary
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Offers in excess of £2,000,000
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Income £223,226 pa (average over last 3 years)
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Net Initial Yield 10%
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Part income secured against lease to award winning restaurant "Aven".
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14 Self Contained Serviced apartments: self-check-in on all apartments.
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Located in the prestigious Winkley Square.
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5 min from Preston Station.
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3 parking spaces.
pROPERTY DETAILS
Each of the 14 apartments is elegantly decorated in a unique style, complete with Egyptian cotton sheets.
All accommodations come with private bathrooms featuring power showers or baths. The kitchenettes are equipped with microwaves, and complimentary tea, coffee, and biscuits.
Upgraded studios feature sofa beds, and/or dining tables. Complimentary limited parking is available. The property is Freehold with 3 parking spaces and has the following specifications:
| Basement | 269.6 m2 / 2901.947 ft2 |
| Ground floor | 397.6 m2 / 4279.7 ft2 |
| First floor | 344.6 m2 / 3709.2 ft2 |
| Second floor | 271.8 m2 / 2925.6 ft2 |
| Total measurements | 1,283.6 m2 / 10.764 ft2 |
LOCATION
Preston, the administrative city for Lancashire County Council, is on the brink of significant transformation as 2025 approaches. The city centre beautifully merges its rich history with modern ambitions. Recent analytics reveal that Preston's population has grown to approximately 142,000, with an influx of young professionals and students, largely due to the University of Central Lancashire.
To address this demographic shift, several key developments are underway. The City Council's revitalization plan includes a £20 million investment to enhance public spaces, promote sustainability, and support local businesses. The ambitious "Preston City Living" initiative aims to add approximately 1,000 new residential units to the city centre by 2025, fostering a live-work environment that attracts a diverse community.
Additionally, the anticipated completion of the new Market Quarter is expected to draw more visitors, offering a modern retail landscape while preserving the charm of local market culture. These developments, combined with improved transport links through ongoing infrastructure projects, position Preston as a burgeoning urban centre, balancing growth with the preservation of its unique character. As the city nears 2025, it stands ready to embrace a future filled with opportunity and innovation.
For those keen to explore, Avenham and Miller Parks, Preston Railway Station, and the Harris Museum and Art Gallery are all easily accessible on foot and less than 5 minutes away. Fishergate Shopping Centre benefits from high foot traffic and superb transport connections. With a diverse blend of well-known brands and unique independent stores, it is a bustling hub of retail activity.
To address this demographic shift, several key developments are underway. The City Council's revitalization plan includes a £20 million investment to enhance public spaces, promote sustainability, and support local businesses. The ambitious "Preston City Living" initiative aims to add approximately 1,000 new residential units to the city centre by 2025, fostering a live-work environment that attracts a diverse community.
Additionally, the anticipated completion of the new Market Quarter is expected to draw more visitors, offering a modern retail landscape while preserving the charm of local market culture. These developments, combined with improved transport links through ongoing infrastructure projects, position Preston as a burgeoning urban centre, balancing growth with the preservation of its unique character. As the city nears 2025, it stands ready to embrace a future filled with opportunity and innovation.
For those keen to explore, Avenham and Miller Parks, Preston Railway Station, and the Harris Museum and Art Gallery are all easily accessible on foot and less than 5 minutes away. Fishergate Shopping Centre benefits from high foot traffic and superb transport connections. With a diverse blend of well-known brands and unique independent stores, it is a bustling hub of retail activity.
aven restuarant
Aven Restaurant is an integral part of the Winckley Stays boutique offering, seamlessly combining luxurious accommodations with an enticing dining experience by Head Chefs Oli Martin and Sean Wrest.
Aven distinguishes itself not only with its prime location but also with the meticulous care and creativity infused into each dish. The seating is comfortable, and the layout feels spacious without being overwhelming. Whether you’re dining alone, on a date, or with friends, the space feels versatile and accommodating.
With its high-quality dishes and excellent service, it’s a restaurant that deserves attention. Aven is a must-visit for anyone who appreciates good food and a warm dining experience.
REVIEWS
Both, the restaurant and the hotel, have received high praise across all major travel booking websites; additionally, it is listed in the Michelin Guide, which speaks to their quality and reputation.
| Booking.com | 8.9 stars |
| Expedia.com | 5.0 stars |
| Hotels.com | 4.5 stars |
| Trivago.com | 9.0 stars |
| Kayak.com | 8.9 stars |
| TripAdvisor | 5.0 stars |
| Leading Restaurants | 4.9 stars |
INCOME
| Sept 23 - Sept 24 | Sept 22 - Sept 23 | Sept 21 - Sept 22 | |
| Rooms revenue | £447,433.00 | £458,984.00 | £472,276.00 |
| Restaurant rent * | £20,000.00 | £20,000.00 | £20,000.00 |
| Total | £467,433.00 | £478,984.00 | £492,276.00 |
| Total overheads | £268,634.00 | £230,036.00 | £270,345.00 |
| EBITDA | £198,799.00 | £248,948.00 | £221,931.00 |
The average Annual EBITDA over the last three years has been £223,226. Further details are available on request.
proposal
We are instructed to seek offers in excess of £2,000,000.00 (Two million pounds) subject to contract and exclusive of VAT. Annual EBITDA £223,226 offering a net yield above 10% (after purchasers costs circa 7%).
Equity Growth Property give notice that: These particulars are set out as a general outline only for guidance to intending Purchasers or Lessees, and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Parties should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Equity Growth Property Ltd has any authority to make any representation or warranty whatsoever in relation to this property. Unless otherwise stated, all prices and rents are quoted exclusive of VAT. Registered address for Equity Growth Management Ltd(T/a Equity Growth Property) Vantage House Euxton Lane, Euxton, Chorley, England, PR76TB