Summary - Damside Street, Lancaster, LA1 1BP LA1 1BP
1 bed 1 bath Shop
High-yield city-centre mixed-use with immediate income and re-let upside.
Ground-floor takeaway let on 10-year lease since May 2023 (£9,900 pa)
Upper flat vacant; previously let at £700 pcm—re-letting potential
Total current income £1,520 pcm; annual income £18,240
Rare headline yield approx. 12.06% at asking price £220,000
Large end-terrace, ~1,092 sq ft, prominent city-centre corner position
Area classed as deprived; local crime level recorded as very high
Flat heating via electric room heaters; no central heating installed
EPCs: Domestic 54 (C), Non-Domestic 69 (C) — consider energy upgrades
This mixed-use, end-terrace property occupies a prominent city-centre corner on Damside Street, opposite North Road and near the bus station — excellent passing trade for the ground-floor takeaway. The ground floor is currently let on a 10-year commercial lease (started May 2023) producing £9,900 pa. Above is a two-storey flat with loft previously let at £700 pcm and presently vacant, creating near-term re-letting or refurbishment potential.
The quoted price and current receipts produce a rare headline yield (c.12.06%), making this a clear pick for income-focused investors seeking a compact, city-centre asset with upside from the empty flat. The property totals about 1,092 sq ft, has double glazing and standard ceiling heights, and benefits from excellent transport links and fast broadband — useful for both commercial and residential occupiers.
Buyers should be aware of practical and location-based considerations: the area is classified as deprived with a very high crime score, and the flat currently lacks central heating (electric room heaters). EPCs are C-rated for both domestic (54) and non-domestic (69). Tenure is described as a very long leasehold (2000 years from June 1892) — commonly treated as a virtual freehold — but interested parties should confirm title details.
Overall this is a well-located, compact mixed-use investment with steady income and re-letting or rental-growth potential from the vacant upper accommodation, but it will suit buyers comfortable operating in a busy, urban environment with some need for retrofit or refurbishment upstairs.
5 bedroom apartment for sale in Damside Street, Lancaster, LA1 — £295,000 • 5 bed • 2 bath • 1060 ft²
4 bedroom apartment for sale in Damside Street, Lancaster, LA1 — £265,000 • 4 bed • 2 bath • 1130 ft²
Commercial property for sale in Cable Street, Lancaster, Lancashire, LA1 1HD, LA1 — £400,000 • 1 bed • 1 bath • 2116 ft²
Shop for sale in West Lake Takeaway, Greaves Road, Lancaster, LA1 4UW, LA1 — £295,000 • 1 bed • 1 bath • 1160 ft²
Commercial property for sale in Blades Street, Lancaster, Lancashire, LA1 1TT, LA1 — £400,000 • 1 bed • 1 bath • 2117 ft²
2 bedroom house for sale in Yorkshire Street, Morecambe, LA3 — £153,000 • 2 bed • 1 bath • 915 ft²
