Hope Street, Lancaster, LA1

The Location

Hope Street places this student investment property within easy reach of Lancaster city centre and the University of Cumbria, making it well positioned for consistent tenant demand. Everyday essentials, cafés, takeaways and city-centre shopping are all readily accessible, while Lancaster’s bus and railway stations provide useful connections across the district and beyond. The Royal Lancaster Infirmary is also nearby, broadening the property’s appeal to healthcare workers and other professional tenants. For students, the location offers straightforward access to university facilities, Lancaster’s nightlife and regular bus services towards Lancaster University. It is a practical setting where tenants can enjoy the independence of city living without needing to rely on a car.

The Property

An established Lancaster student investment with tenants secured for the 2026/27 academic year, 21 Hope Street combines immediate rental income with a proven letting history. The property is let to three students at £129 per person, per week, over 48 weeks, generating a gross annual income of £18,576. Based on the asking price of £195,000, this represents an approximate gross yield of 9.5%.

The ground floor begins with an entrance vestibule opening into the hallway. Bedroom one is positioned at the front, while the lounge and dining room sits towards the rear, providing tenants with a shared space in which to relax, eat and spend time together. The adjoining kitchen is fitted with a range of storage units, an electric oven, gas hob, extractor and refrigeration. A useful cellar provides additional storage space and houses the gas and electricity meters.

On the first floor are a further bedroom and the bathroom, which includes a bath with thermostatic shower, wash basin, WC and washing machine. The accommodation continues to the second floor, where two additional rooms provide further flexibility; one is currently used as an office and storage room.

Outside, the enclosed rear yard includes a patio area and gated access to the rear road. Furniture and white goods are included, excluding tenants’ personal belongings, helping make this a straightforward addition to an existing Lancaster property portfolio.

Useful Information

• Freehold property

• Council Tax Band A

• Let to three students for the 2026/27 academic year

• Rental income of £18,576 per annum: 3 × £129 per week over 48 weeks

• Approximate gross yield of 9.5%, based on the £195,000 asking price

• Current landlord’s Gas Safety Certificate and EICR are in place

• Furniture and white goods included, excluding tenants’ personal belongings