Summary - FLAT 2 SECOND FLOOR, 3-5 DAMSIDE STREET, LANCASTER LA1 1PD
4 bed 2 bath Apartment
Let for successive academic years; long lease and furniture included for immediate income..
Income-producing 4-bedroom flat with two shower rooms
A purpose-built, income-producing student flat in Lancaster city centre, set on the second floor with four letting bedrooms and two shower rooms. The property is let for the 2024/25 academic year and already secured for 2025/26, producing a predictable gross annual income around £24,000–£24,960. Furnishings and white goods are included, and safety certificates (gas where applicable and EICR) are in place.
The apartment benefits from bright skylights, a vaulted living area and a compact open-plan kitchen with integrated appliances — features that appeal to students and maintain lettability. The long lease (979 years remaining of a 999-year term) and central city location close to shops, transport and university amenities support sustained demand.
Buyers should note material facts plainly: heating is by electric room heaters rather than central gas, broadband speeds are average, and the local recorded crime level is very high. The flat is small in overall size and on the second floor (no lift mentioned), which may affect tenant choice. There is potential to buy a share of the freehold, and the property could suit investors seeking a hands-off city-centre HMO with established returns, or someone building a small rental portfolio.
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