2-bedroom flat · LA1 1YQ
For saleListed 146 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Where is Castle Park?
Located in one of Lancaster’s most historic and sought-after settings, Flat 3 at 2 Castle Park enjoys an enviable position beside Lancaster Castle and the Priory, right in the heart of the city centre.
Despite its central location, the apartment offers a peaceful setting with leafy outlooks, while Lancaster train station is just a 30-second walk away, making it ideal for commuters.
Castle Park itself is renowned for its period architecture and character, creating a distinctive and prestigious place to live.
About this Home Set within a handsome Grade II listed former school building, this impressive apartment combines grand proportions with elegant original features.
The accommodation is exceptionally spacious throughout, with high ceilings, deep skirting boards, large sash-style windows and beautifully proportioned rooms adding to the sense of character.
The living room is particularly generous in size, while the fitted kitchen offers ample storage and workspace alongside enough room for dining.
Both bedrooms are substantial doubles, with the principal bedroom enjoying access to an en-suite, while a modern shower room serves the remainder of the apartment.
The overall presentation is clean, neutral and ready to move into, allowing buyers to enjoy the space immediately while still offering scope to personalise over time.
The property benefits from one allocated parking space, together with additional visitor parking to the rear of the building.
The apartment also comes with a share of the freehold, jointly owned between the five apartments within the building, which is an attractive feature for long-term ownership and management.
Material Information: Grade II listed former school conversion Share of freehold ownership shared between the five apartments 999 Year Lease from 1991 - £800pa Service Charge Council Tax Band E One allocated parking space Visitor parking available to the rear Electric heating Undefloor heating in main bathroom Brand new Oven Spacious apartment with high ceilings and original features Key Features: Spacious two-bedroom apartment Prime Castle Park location beside Lancaster Castle and Priory Just moments from Lancaster train station Grade II listed former school conversion Impressive ceiling heights and period features New quality carpets New gas central heating system | Including period appropriate radiators Large living room and spacious dining kitchen En-suite plus separate shower room Share of freehold Allocated parking plus visitor spaces Central Lancaster location with leafy outlooks EPC Rating: C Parking - Allocated parking
Value & comps
No previous sales on record.
Returns
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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.
Area
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FAQ
About 2, Castle Park, Castle Hill | Stunning apartment across from Lancaster Castle
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