Lancaster, LA1 4JT | Investment Property for Sale | VES-LA1-004

Opportunity to purchase an apartment in Lancaster generating £10,200 rent pa & gross yield of 7%

£145,000

Apartment

VES-LA1-004

INITIAL INVESTMENT

£43,500

Based on

deposit: £36,250

stamp duty: £4,750

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£10,200

GROSS YIELD

7.0%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£250

SERVICE CHARGE

£960

2 bedrooms

2 bathrooms

1 reception room

694

Fully Furnished

Please note that this property is also part of a larger portfolio listing.

Leasehold information

  • Length of lease: 125 years
  • Year lease started: 2018

Property information

  • Located on the ground floor
  • Open plan kitchen/living room
  • Master bedroom is an ensuite
  • Comes with allocated parking space
  • EPC rating D
  • Monthly rental income £850

Location information

  • The property has excellent transport links, the city centre is less than a mile away and Lancaster railway station is just 1 mile away.
  • The M6 motorway is also only 1 mile away making this a perfect property for anyone needing to commute.

Note

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Lancaster, Lancashire

Lancaster is a cathedral city and the county town in Lancaster, north-west England. It lies around 25 miles north-east of Blackpool and around 26 miles north of Preston.

The city is well located with the M6 motorway passing to the east of the city connecting it to Rugby, Coventry, Birmingham, Stoke-on-Trent, Liverpool, Manchester, Preston, Carlisle and Gretna Green.

Lancaster railway station is on the West Coast Main Line and offers train services to London, Glasgow, Edinburgh, Manchester, Leeds and Barrow-in-Furness, as well as a local service to Morecambe.

Some of the areas top attractions include Lancaster Castle, Williamson Park, Lancaster City Museum, Lancaster Brewery, Lancaster Maritime Museum to name a few. The city is also known for its arts scene with over 600 regional businesses and organisations involved in arts and culture. Some of these include Lancaster University, Nuffield Theatre, Peter Scott Gallery as well as the Lancaster International Concert Series. The Lancaster Grand Theatre and the Dukes are well-known venues for live performances alongside other venues such as Yorkshire House, Robert Gillow and The Bobin.

Lancaster is also ideally located for any interested in outdoor pursuits. The district has an extensive cycling network, the Way of the Roses is a special cycle route from Morecambe Bay to Bridlington Bay, whilst other wonderful locations include the Forest of Bowland, Lancaster canal, River Lune Millennium Park and Riverside Walk and a day out at Morecambe Bay.

There are two shopping centres in the city, Marketgate Shopping Centre and St Nicholas Arcade as well as over 100 independent and speciality shops.

Lancaster is also home to Lancaster University which employs over 3.000 staff and has around 17,500 students. The university is one of only six collegiate universities in the UK and was awarded University of the Year by the Times and Sunday Times Good University Guide in 2018.

The University of Cumbria has also a campus in the city and provides undergraduate and postgraduate courses in the arts, social sciences, business, teacher training, health care and nursing.

Ashton Road,

Lancaster,

Lancashire,

England,

LA1 4JT

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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