Greaves Road, Lancaster, LA1
- PROPERTY TYPE
Residential Development
- BEDROOMS
7
- BATHROOMS
5
- SIZE
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Key features
- To Be Sold By Auction
- Investment Opportunity
- Planning Permission Granted
- 4 Studio Apartments & 3 Bed HMO
- Lancaster City Centre
- Student Lets
- Estimated Circa £55k - £60k Annual Income
Description
To be sold by modern method of auction with Iamsold auctions. Further information below.
An exciting development and investment opportunity. Planning permission has been granted for the ground floor and lower ground floor conversion to 4 studio apartments. The upper floor has an existing 3 bedroom HMO apartment.
For further information planning documents and plans can be viewed on the Lancaster City Council Planning Portal. Planning Application Reference: 22/00198/FUL
The location of this property is popular for students, between the Spar building and Williamson Court on Greaves Road in Lancaster. Bus stops almost immediately outside on both sides of the road with frequent services to Lancaster University or back to the City Centre.
Estimated Rents:
It is estimated that the studio apartments will achieve between £200 and £240 per week.
The 3 rooms within the HMO apartment have been let out at around £105 per room per week.
Auctioneers Comments:
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £300.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
Tenure: Freehold,Greaves Road, Lancaster, LA1
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Lancaster Station0.9 miles
- Bare Lane Station3.0 miles
- Morecambe Station3.7 miles
About the agent
Fisher Wrathall, Lancaster
22 Market Street Lancaster LA1 1HT
Locally Connected, Nationally Respected!
Fisher Wrathall is a leading firm of Estate Agents, based in the heart of the historic city of Lancaster.
Working across the Residential and Commercial markets in numerous areas including Morecambe, Carnforth, Lancaster and surrounding areas.
For a friendly and confidential discussion on any property matter, contact us today.
Industry affiliations
Notes
Disclaimer - Property reference P2299. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Fisher Wrathall, Lancaster. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Fisher Wrathall, Lancaster on 01524 967560.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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