Summary - 89 King Street LA1 1RH
1 bed 1 bath Commercial Development
**Standout Features:**
- **Sizeable Structure:** 4,080 square feet over three floors, ideal for commercial and residential use.
- **HMO Accommodation:** Currently configured as an 8-bedroom HMO with shared amenities, a lucrative option for rental income.
- **Prime Location:** Situated on a busy one-way system in Lancaster city center, close to universities and essential amenities.
- **Planning Approval:** Recently received permission to convert to a 9-bedroom HMO with various enhancements.
- **Character Features:** Set within a grade II listed Georgian property, appealing for those interested in historical architecture.
**Potential Concerns:**
- **Maintenance Needs:** The property may require cosmetic updates and inspection for structural issues, particularly due to its heritage status.
- **Crime Rate:** Local area experiences a very high crime rate, which may be a consideration for tenants.
**Summary:**
Offering a unique investment opportunity in the heart of Lancaster, this impressive three-storey commercial premises boasts a remarkable 4,080 square feet in a vibrant location. Currently functioning as an 8-bedroom HMO with shared facilities, the property’s layout is designed for communal living, featuring spacious reception areas and individual bedrooms, making it ideal for student tenants or professionals alike. The recently granted planning permission for an additional bedroom and external alterations highlights its potential for future growth and rental profitability.
The building's rich historical character adds charm, while its proximity to universities and amenities positions it as a desirable option for investors looking to capitalize on the Lancaster market. Take note, renovations might be needed, and the property’s listed status may present challenges when undertaking extensive alterations. With local crime rates being notably high, careful tenant selection will be essential. Viewings are encouraged to fully appreciate this unique opportunity—properties of this essence do not last long!
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