The best buy to let deals in Lancaster this September

Are you a Lancaster Landlord? If so you will be interested to know there is now a big shortage of rental properties in Lancaster.

Lancaster University is expanding and with promising news of the Eden Project in neighbouring Morecambe, more and more landlords are looking to buy in our area.

We are also starting to get requests about potential properties that would make good Air BnB properties so we thought we would feature a couple of recommendations.

This is one of the larger 2 bed homes on this small cul-de-sac. It has just had brand new windows installed and it has been redecorated throughout and new carpets fitted.

This would rent this at £600pcm
This 3 bedroom home is very interesting. Whilst we love to see it as a family home, given all of its history (it is the former gatehouse to Storeys), we know it will be of interest to student landlords.

We’ve worked on 4 bedrooms, letting for 50 weeks at £90 per room. See the details below.
This apartment has a fantastic location, right in the heart of the city. This is close to Lancaster Castle and the train station. Lancaster’s old pub – The Merchants is a 3-minute walk.

This would rent for £550 pcm. It would give a 5.7% gross return based on the above asking price. Why not consider Air BnB on this? If let it for just £50 per night, it would give £350 per week gross. If it let for 40 weeks in the year – you would have a gross income of £14,000.
That is a whopping 12% gross return!
Properties on Bulk Road are always popular with the rental market. We already let out quite a few on the street for other investors! Tenants like the easy access into the city and the fact it is just minutes from the motorway.

This 2 bedroom home would let for £550 pcm given its generous size garden

This is a great buy. Homes on this street generally sell in the region of £110,000-£115,000. This needs some updating. It’s already uPVC dg, the bathroom is modern, however, it needs central heating, new kitchen and certainly a decor update!

Once updated though, you can expect a rent of £550pcm. It’s a great location, close to the University of Cumbria and Lancaster Hospital.
This apartment is already let at £525 pcm. The tenants would actually love to stop if possible.
If you kept the rent the same, it yields at 6% gross. We think you could now achieve higher at £550pcm.

This apartment has 2 bedrooms. It is on the top floor and it comes complete with private parking. It’s in a really nice part of city, close to Dalton Square and the theatres.
If you are thinking of Air BNB or the holiday cottage rental market, The Nook is very interesting. This home is close to the Black Knight Parachute Centre, just 1.5 miles from Glasson Dock and there are some superb coastal walks close by.

This home has 4 bedrooms. Let it at just £80 per night and you will get a weekly income of £560. If you let it for 40 weeks of the year, it becomes a gross income of £22,400 which is a 9.7% return!

Should decide you would rather let it to the professional market, expect to achieve £800 pcm

Interested in any of these? Would you like to know more about the buy to let market in Lancaster and Morecambe? If so, please get in touch. At JDG we are here to help. 

Call us on 01524 843322. If you’d like to know about our rental service and how we help local landlords, please ask to speak to John, Josh or Michelle.