Moor Street, Lancaster, Lancashire, LA1 1PR

Location

The property is situated on Moor Street, offering an ideal location for student accommodation, just a one-minute walk from the city centre. This prime position provides immediate access to a wide range of shops, bars, restaurants, and local amenities, making it highly attractive to tenants.

Despite its close proximity to the city centre, the property is set back on a side street, offering a quieter environment away from the main hustle and bustle. This balance of convenience and tranquillity enhances its appeal, particularly for students seeking both accessibility and a more relaxed living setting.

Description

Mixed-Use Investment Opportunity - HMO and Commercial Premises with Income Potential

An excellent opportunity to acquire a mixed-use investment property comprising two three-bedroom student flats and a double commercial unit, offering strong income potential with scope for further enhancement. The commercial element is currently arranged as a single double unit, with the option to reinstate two separate retail or office units, subject to requirements and any necessary consents.

At present, both commercial units and one of the student flats are vacant, providing flexibility for an incoming investor to set rental levels or occupy part of the property. The second student flat is let for the 2025/2026 academic year, and from the 2026/2027 academic year both flats have tenancies agreed, generating a combined annual income of approximately £39,317.

While already income producing, the property is not yet operating at full capacity, offering clear potential to increase returns through letting the vacant elements or reconfiguring the commercial space. Overall, this represents a strong investment opportunity for those seeking a mixed-use asset with established income and future growth potential.

Accommodation Text

2 Moor Street - Three-Bedroom En-Suite Student Accommodation

2 Moor Street comprises a well-presented three-bedroom student flat arranged over three levels. All bedrooms benefit from en-suite facilities, providing high-quality accommodation suited to modern student expectations. The ground floor includes a kitchen and living area, finished to a clean and modern specification, creating a practical and sociable space. The property is let for the 2026/2027 academic year, generating an annual income of £23,040.

5 Moor Street - Three-Bedroom Student Flat with Scope to Enhance

5 Moor Street is located on the first floor and comprises a three-bedroom student flat, all of which are double rooms. Two of the bedrooms benefit from water supply, offering additional convenience for occupants. The property is presented in a clean and tidy condition throughout, with an opportunity to further enhance value through modernisation of the kitchen. The flat is let for the 2026/2027 academic year, producing an annual income of £16,277.

3 & 4 Moor Street - Commercial Unit with Development Potential

3 and 4 Moor Street comprise a ground floor commercial premises currently configured as a single unit, although it benefits from two separate entrances and could be reinstated into two units if required. The accommodation extends to approximately 820 sq ft and includes multiple rooms, with laminate flooring throughout. The property offers clear potential for modernisation, presenting an opportunity to enhance rental value or adapt the space for a variety of commercial uses. Currently Vacant.

Services

Mains water and electric contacted to all party of building. There is no gas in the building. Students flats benefit from new water tanks.

EPC Information

2 Moor Street - D60
5 Moor Street - F22
3&4 Moor Street - To be advised

The Opportunity

From approximately August/September 2026, the property is projected to deliver a strong gross yield of around 10.2%, based on the secured student tenancies. This provides a solid and reliable income stream from the residential element alone.

There is further opportunity to enhance returns through the letting of the commercial premises, which are anticipated to achieve an income in the region of £5,000 per annum. Once fully let, this would increase the overall yield to approximately 11.5%, highlighting the property's strong investment potential.

In addition, there is potential to convert the ground floor commercial unit into a two-bedroom HMO, subject to the necessary planning permissions. This alternative use could generate a higher rental income compared to the commercial element, providing further scope to maximise returns and enhance the overall investment performance.

Overall, the combination of secured future income, commercial upside, and potential for residential conversion presents an attractive opportunity for investors seeking both stability and growth.

Lease Terms

Both students flats have signed agreements until the end of the 2026-27 academic year. Commercial premises is vacant.

VAT

All prices quoted are exclusive of VAT but may be liable for VAT. Property not registered for VAT.