COMMERCIAL
West Road, Lancaster
£580,000
- PROPERTY TYPE
Commercial Property
- BEDROOMS
9
- SIZE
2,174 sq ft
202 sq m
Description
An outstanding opportunity to acquire a student investment property in superb condition, comprising three apartments (nine bedrooms total), fully let for 2025-26 with excellent EPC ratings and a gross annual return of circa £68,000. Why not take a closer look...
*THE VENDOR IS WILLING TO SELL AS AN SPV - ENQUIRE FOR MORE DETAILS*
What Is On Offer Here? - Quite simply an outstanding investment opportunity with a near 12% annual gross return. We are advised that the net income is around 85% of the £68,000 gross, meaning a net return of almost 10% - superb for Lancaster. Already let for 2025-26 and with a very capable property manager ready to secure tenants again for subsequent years it has the potential to be an extremely lucrative hands off investment.
Let's Have A Look At The Accommodation.. - Renovated diligently and beautifully by the present owners, it's a student let with a difference. Nine student bedrooms set over three apartments within this large (over 2000 square feet) Victorian building. The smaller ground floor hosts one bedroom and the two larger apartments have four each. The apartments are named after Beatles classics, Strawberry Fields, Penny Lane and Abbey Road which is a stylish touch. Externally the property has a lovely and well maintained rear yard/garden and driveway parking for two cars.
What About The Location? - This excellent property is perfectly situated to enjoy Lancaster city centre and its wealth of amenities as well as superb transport links. The train station could not be much closer, the bus station with regular buses to campus is a short walk away and should it be needed, junction 34 of the M6 can be reached easily via the one way system. Nearby amenities include the Merchants Pub, the iconic St. Georges Quay with its charming array of bars and restaurants, Lancaster Castle and other city attractions such as the Priory and Museum.
Lancaster And Students - Lancaster is a very student orientated city. Varying sources state there are between 12,500 and 18,000 active students at any one time. In terms of this property and its rental potential, with the city hosting not only Lancaster University itself but also the University of Cumbria, Lancaster campus there should always be a healthy supply of potential occupants. The property has been managed successfully since purchase by Paul Morris at Escape Campus who has an unenviable reputation in the city and is Lancaster University Homes accredited.
Landlord Liabilities - TV Licence is included for the students as is water, wifi and an energy allowance.
Services - The property is serviced with gas, electricity and mains drainage and water.
Tenure - The property is Freehold with title number LAN122146.
Council Tax - Each flat is individually rated - Flat 1 is A and Flats 2 and 3 are both B with Lancaster City Council. Student exemptions would apply.
Viewings - Strictly by appointment with Houseclub Estate Agency.
Energy Performance Certificate - There are three available, one for each apartment. Available online or contact our office for more information. The ratings are exceptional. C, B and C for the three respective apartments.
Additional Information - Professional fire risk assessment carried out with overhaul of fire compliance including new fire panel, interlinking flats alarm system, door closers fitted and all smoke alarm headers replaced. Circa 2022.
Security access system fitted at front door with camera/video panel and remote access facility operable from all flats Circa Dec 2024.
Fibre internet installed - April 2025.
Humidistats in all bathrooms - Circa 2022
New Smart TVs and all lounge furniture replaced over last 3 years in all flats
New ATAG boiler in Abbey Road - 2023
Owner is happy to share all fire safety improvement information notwithstanding buyers own responsibilities in this matter.
Fixtures And Fittings - The apartments would be furnished bar two 'all you need is love' photographs.
*THE VENDOR IS WILLING TO SELL AS AN SPV - ENQUIRE FOR MORE DETAILS*
What Is On Offer Here? - Quite simply an outstanding investment opportunity with a near 12% annual gross return. We are advised that the net income is around 85% of the £68,000 gross, meaning a net return of almost 10% - superb for Lancaster. Already let for 2025-26 and with a very capable property manager ready to secure tenants again for subsequent years it has the potential to be an extremely lucrative hands off investment.
Let's Have A Look At The Accommodation.. - Renovated diligently and beautifully by the present owners, it's a student let with a difference. Nine student bedrooms set over three apartments within this large (over 2000 square feet) Victorian building. The smaller ground floor hosts one bedroom and the two larger apartments have four each. The apartments are named after Beatles classics, Strawberry Fields, Penny Lane and Abbey Road which is a stylish touch. Externally the property has a lovely and well maintained rear yard/garden and driveway parking for two cars.
What About The Location? - This excellent property is perfectly situated to enjoy Lancaster city centre and its wealth of amenities as well as superb transport links. The train station could not be much closer, the bus station with regular buses to campus is a short walk away and should it be needed, junction 34 of the M6 can be reached easily via the one way system. Nearby amenities include the Merchants Pub, the iconic St. Georges Quay with its charming array of bars and restaurants, Lancaster Castle and other city attractions such as the Priory and Museum.
Lancaster And Students - Lancaster is a very student orientated city. Varying sources state there are between 12,500 and 18,000 active students at any one time. In terms of this property and its rental potential, with the city hosting not only Lancaster University itself but also the University of Cumbria, Lancaster campus there should always be a healthy supply of potential occupants. The property has been managed successfully since purchase by Paul Morris at Escape Campus who has an unenviable reputation in the city and is Lancaster University Homes accredited.
Landlord Liabilities - TV Licence is included for the students as is water, wifi and an energy allowance.
Services - The property is serviced with gas, electricity and mains drainage and water.
Tenure - The property is Freehold with title number LAN122146.
Council Tax - Each flat is individually rated - Flat 1 is A and Flats 2 and 3 are both B with Lancaster City Council. Student exemptions would apply.
Viewings - Strictly by appointment with Houseclub Estate Agency.
Energy Performance Certificate - There are three available, one for each apartment. Available online or contact our office for more information. The ratings are exceptional. C, B and C for the three respective apartments.
Additional Information - Professional fire risk assessment carried out with overhaul of fire compliance including new fire panel, interlinking flats alarm system, door closers fitted and all smoke alarm headers replaced. Circa 2022.
Security access system fitted at front door with camera/video panel and remote access facility operable from all flats Circa Dec 2024.
Fibre internet installed - April 2025.
Humidistats in all bathrooms - Circa 2022
New Smart TVs and all lounge furniture replaced over last 3 years in all flats
New ATAG boiler in Abbey Road - 2023
Owner is happy to share all fire safety improvement information notwithstanding buyers own responsibilities in this matter.
Fixtures And Fittings - The apartments would be furnished bar two 'all you need is love' photographs.
Brochures
West Road, LancasterBrochureEnergy Performance Certificates
EE RatingWest Road, Lancaster
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Lancaster Station0.2 miles
- Bare Lane Station2.0 miles
- Morecambe Station2.7 miles
Notes
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Disclaimer - Property reference 33855301. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Houseclub, Lancaster. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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