6.5% gross return at Waterside, Lancaster

We’ve featured this property before and I’m gobsmacked it hasn’t sold. If I hadn’t just invested in purchasing the new JDG offices, I would give this some serious consideration myself!

Waterside is a ground floor apartment with 2 bedrooms – even the 2nd bedroom is a double. It has open plan living. At 624 sqft it’s not a bad size. We can’t understand why it hasnt sold.

This apartment would easily let for £650pcm. This would give you a gross yield of 6.5%.

There is though an increasing demand from young professionals looking to house share and oversea students who would like to rent somewhere smaller and quieter. This market could give you £250 per week (bills included) – the equivalent of £1000 per month a 4 week month!

The location is excellent, at the top of St Georges Quay and neighbouring Sainsbury’s. The bus station is just across the road. Lancaster Hospital is just a 10-minute walk.

Check out the details here


Pros. Excellent location on the edge of the city.

Cons. No real view being on the ground floor.