2-bedroom flat · LA1 1AY
To rentListed 2 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
This attractive and generously proportioned two-bedroom apartment is situated on the second floor of the popular Borrowdale building at Waterside.
Offering spacious living accommodation, two bathrooms and a south-facing balcony, the property combines comfort and practicality in a convenient riverside setting.
Lift access and permit parking add to the appeal. The entrance hallway provides access to all principal rooms, leading through to a particularly spacious lounge diner.
This bright and versatile room offers ample space for both relaxing and dining, with French doors opening onto the south-facing balcony.
With room for a small table and chairs, the balcony provides an ideal spot to enjoy a morning coffee or unwind in the afternoon sunshine.
The separate kitchen is arranged in a practical U-shaped layout, fitted with beech-style cabinetry, stone-effect worktops and an integrated oven and hob.
There is plenty of worktop space and storage, making it well suited to everyday living.
Both bedrooms are comfortable doubles, offering flexibility the main bedroom benefits from its own en-suite shower room, while the second bedroom is served by the main bathroom, fitted with a white three-piece suite.
Further benefits include a recently installed PulsaCoil water-heating cylinder, fitted in February 2026, lift and stair access, and permit parking within the development.
With its generous proportions, excellent natural light and sought-after riverside location, this apartment makes an appealing home within easy reach of Lancaster city centre and its amenities.
Application & Viewing Information If you are interested in applying for this property please place an enquiry through Rightmove or On The Market.
Alternatively, you can fill out an application form directly on our website under the Lettings menu. We will need one application per household.
The landlord will make a decision on which applicants they wish to shortlist for viewings and their decision will be final.
If your application is shortlisted, we will then be able to get a physical viewing booked in before you commit to the property.
Cost Information If your application is successful and, following a viewing, you proceed to the referencing stage, a holding deposit equal to £219.23 will be taken via our referencing platform Let Alliance.
This will then go towards your first month's rent when the tenancy starts.
The holding deposit will be retained by the agent if the tenancy falls through for one of the following reasons: * You decide not to rent the property * You give wrong or misleading information * You cannot pass a 'right to rent' immigration check The standard deposit on this property will be £1096.00 JD Gallagher Estate Agents are part of Client Money Protect who provide them with CMP insurance and are part of The Property Ombudsman Scheme.
We may charge a tenant any or all of the following when required: 1. The rent 2. A security deposit with a maximum of 5 weeks rent, or 6 weeks on a property with rent over £50,000 per year 3.
Default fee for late payment of rent (after 14 days) 4. Reasonable charges for lost keys or security fobs 5.
Payments associated with contract variation, at £50 or reasonable costs incurred if higher, when requested by the tenant 6.
Payments associated with early termination of the tenancy, when requested by the tenant 7.
Payments in respect of bills - utilities, communication services, TV licence, council tax and green deal or other energy efficiency charges.
Connectivity The estimated mobile coverage at this property is: EE: Excellent O2: Okay Three: Good Vodaphone: Good The estimate available broadband speed at this property is: Basic (ADSL): 17mb Fibre to the Street Cabinet (FTTC): 80mb Fibre to the Premises (FTTP): Not Available The above speeds represent the average speeds and fibre availability in the area and do not necessarily mean that this property is currently connected to all available options.
Your chosen internet provider will be able to advise on the required equipment and what they are able to offer.
Please remember that you will need to seek permission if your provider needs to carry out any changes or drilling at the property.
EPC Rating: C Parking - Allocated parking Allocated parking space exclusive to the flat.
Value & comps
No previous sales on record.
Rental comparables are shown in the Rental section below. Sold comparables remain for area capital context only.
Returns
We're still gathering serviced-accommodation data for this area.
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
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 Waterside, Lancaster, LA1
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