1-bedroom flat · LA1 4RF
Listing removedReduced £5k (−4.5%) on 9 AugListed 128 days
Opportunity summary
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About
Tenure: Leasehold Where is Gressingham Drive Located in a popular residential area of South Lancaster, Grettingham Drive offers a convenient setting with a range of amenities close by.
Local shops, cafés and services around Scotforth are within walking distance, while regular bus routes provide easy access into Lancaster city centre.
The area is also well placed for access to Lancaster University, the Royal Lancaster Infirmary and the M6 motorway.
For those who enjoy spending time outdoors, there are a number of nearby green spaces, with Burrow Beck weaving through the surrounding area and providing pleasant walks close to home.
About This Home This ground floor apartment presents an excellent opportunity for first-time buyers, downsizers or investors seeking a low-maintenance home in a well-established location.
The accommodation is well laid out, with all rooms accessed from a central hallway.
The living room is a comfortable and well-proportioned space, offering plenty of room for both seating and dining furniture.
Positioned adjacent to the lounge, the kitchen was updated in 2022 and features modern cabinetry, integrated cooking appliances and space for everyday dining.
The double bedroom is a generous size and enjoys a pleasant outlook to the front of the building, with ample space for wardrobes and additional furniture.
The bathroom was updated in 2023 and is fitted with a modern three-piece suite comprising a bath with shower over, wash basin and WC.
The property also benefits from a useful utility cupboard accessed from the hallway, providing additional storage and practical space for household appliances.
Externally, residents enjoy allocated parking together with communal grounds surrounding the development.
Positioned on the ground floor, the apartment offers straightforward access and would suit buyers looking to avoid stairs.
Extra Information Ground floor leasehold apartment 999-year lease from 1994 Modern kitchen updated in 2022 Bathroom updated in 2023 Gas central heating Combi boiler installed approximately 11 years ago UPVC double glazing Allocated parking space Service charge: £251 per annum Ground rent: £35 per annum Council Tax Band: A Ideal first-time buy, downsizer or investment purchase Allocated parking EPC Rating: D Location Located in a popular residential area of South Lancaster, Grettingham Drive offers a convenient setting with a range of amenities close by.
Local shops, cafés and services around Scotforth are within walking distance, while regular bus routes provide easy access into Lancaster city centre.
The area is also well placed for access to Lancaster University, the Royal Lancaster Infirmary and the M6 motorway.
For those who enjoy spending time outdoors, there are a number of nearby green spaces, with Burrow Beck weaving through the surrounding area and providing pleasant walks close to home.
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.
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About 85 Gressingham Drive, Lancaster
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