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See how verdicts work5-bedroom terraced house · LA1 1YS
Listing removedListed 316 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
This versatile property now requires complete renovation but with extensive accommodation over three floors as well as a cellar it has immense potential for a number of uses (possibly one fabulous townhouse, apartments or offices?) subject to the necessary consents.
Unusual for such a central property in this part of the city there is also a small private flagged yard at the rear.
A key selling point for the property is the rarity of such an opportunity in such a central and prime location.
It is located on historic Castle Hill which runs between The Judges’ Lodgings Museum and St Mary’s Parade which borders the grounds of Lancaster Castle, thereby sealing its credentials of being exceptionally central.
The adjoining property was the offices and workshops of nationally famous cabinet makers Gillow & Co until 1882, indeed, No.1 was believed to have been used as their workshop and showroom.
Tucked down Castle Hill which is a no-through road, the property won’t see a large amount of passing traffic.
The city’s amenities and train station are all within walking distance so this is a location where you could happily live car free.
Historic England has classified the property as Grade II Listed, the schedule provides the following details: “Warehouse and workshop…. 1770, gutted by fire 1985, then converted.
Probably by Richard Gillow.…..To the right of the top stage of the loading slot are the stone brackets of a former crane…..
HISTORY: built for the manufacture and display of furniture by the Gillows, who were described by Thomas Pennant in his 'Tour of Scotland' as 'very ingenious cabinet-makers...
who fabricate most excellent and neat goods at remarkably cheap rates, which they export to London and the plantations'.
This warehouse was described by Richard Gillow as 'newly built' in June 1770.” For the full listing, please visit historicengland.org.uk Ground Floor Enter into the spacious reception room and then through into a hallway where the focal point is the impressive gently curved wide staircase leading to the first floor.
Beyond the initial reception room and hall, the ground floor comprises a cloakroom, kitchen and second large reception room that has a door leading out to the rear courtyard.
A secondary stairwell provides a second set of stairs running from the ground to second floor.
First Floor Off the split-level first floor landing is, to the rear of the property, a cloakroom and large bedroom.
To the front, there is a second generous bedroom with French doors to a Juliette balcony.
Second Floor A wide set of gently curved stairs continues to the second floor, again with a split-level landing.
To the rear of the property is a shower room, bathroom, two bedrooms and a living kitchen and off the front landing, a large bedroom.
From this floor there are attractive and interesting views over city centre rooftops. Outside The courtyard provides access from the external steps down to the cellar.
Directions what3words castle.view.slice Situated on a no-through road, for viewings we recommend you park nearby and approach on foot. Leaving our office, turn right and proceed down Castle Hill.
The property is on the right hand side. Services Mains electricity, gas, water and drainage. Gas fired central heating from two combination Worcester boilers.
We are informed by the vendor that the systems have not been used for at least the last ten years. No assurances will be provided as to functionality.
Broadband Ultrafast speed potentially available from Openreach of 1000 Mbps download and for uploading 220 Mbps.
Mobile Indoor: EE, O2 and Vodaphone are reported as ‘likely’ for both Voice and Data services. Three is reported as providing ‘limited’ Voice and Data services.
Outdoor: EE, Three, O2 and Vodaphone are reportedas ‘likely’ for both Voice and Data services. Enhanced data: 5G is predicted to be available around this location (outdoors only).
Broadband and mobile information provided by Ofcom. Important Note When viewing, please wear sturdy footwear and bring a torch.
Entry to the cellar is at the sole risk of the potential purchaser with no liability to the vendor or Agent.
Local Authority Charges Lancaster City Council – Council Tax band D Tenure Freehold Included in the sale The property is sold as seen.
Anti Money Laundering Regulations (AML) Due to the Money Laundering Regulations, now officially known as Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 we are required to follow government legislation and carry out identification checks on all purchasers.
We use a specialist third party company to conduct these checks at a charge of £48 inclusive of VAT per buyer once an offer has been accepted and you will be unable to proceed with the purchase of the property until these checks have been carried out.
This charge is non-refundable.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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FAQ
About 1 Castle Hill, Lancaster, LA1 1YS
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