Studio flat · LA2 0EZ
Listing removedListed 154 daysAuction 17 Jun · ended
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Online Auction 16th - 17th June 2026 Studio Apartment Designed For Student Accommodation Currently tenanted studio apartment in former Mill building.
The property briefly comprises a compact open plan living space/bedroom, kitchen area, and a modern shower room.
The property is designed for students and has communal spaces, including a games room, laundry room, a bike store and gym.
The apartment is located close to Lancaster University Campus and a short distance from the town centre and Access to the M6.
Please note that we are informed by the seller that a tenant is due to move out of the property mid-July.
Tenure: Leasehold Title number: LAN250931 Length of Lease/Term: 150 years from 1st January 2020 Ground Rent : £350 per year Service Charge: £1098 per quarter Council Tax Band : Local Authority: Lancaster Finance is available on this lot.
For a decision-in-principle visit togethermoney.com/amydip/ IMPORTANT INFORMATION Buying at auction is a contractual commitment, you are legally obliged to buy the lot on the terms of the sale memorandum at the price you bid.
If you are the successful bidder, you are required to pay the deposit and auction fees immediately.
As agent for the seller, we treat any failure to satisfy your obligations as your repudiation of the contract and the seller may then have a claim against you for breach of contract.
You must not bid unless you wish to be bound by the common conditions of auction.
ANTI-MONEY LAUNDERING REGULATIONS In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.
Every effort has been made to confirm the accuracy of the lot details including any defect in the title both with the vendor and their solicitor.
Auction House will not be held responsible for any failure to disclose any such defects.
Any purchasers choosing to buy without viewing in person are doing so at their own risk and acknowledge that the auctioneer will not be held responsible for any issues that may arise due to them being unintentionally missed from the video or sales particulars.
Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding.
Tenure: Leasehold Administration Fee: 2.75% inc VAT of the purchase price, subject to a minimum of £2750 inc VAT, payable on exchange of contracts.
Buyer's Premium Fee: £900 inc VAT payable on exchange of contracts. Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Value & comps
No previous sales on record.
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Returns
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We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below starting price
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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
Agent & docs
FAQ
About Flat 402, Galgate Silk Mill, Chapel Lane, Galgate, Lancaster LA2 0EZ
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