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1.25 Acres Land abutting Lansil Pavillion & Lancaster Canal, Caton Road, Lancaster, LA1 - Image 1
1.25 Acres Land abutting Lansil Pavillion & Lancaster Canal, Caton Road, Lancaster, LA1 - Image 2
1.25 Acres Land abutting Lansil Pavillion & Lancaster Canal, Caton Road, Lancaster, LA1 - Image 3
1.25 Acres Land abutting Lansil Pavillion & Lancaster Canal, Caton Road, Lancaster, LA1 - Image 4

1.25 Acres Land abutting Lansil Pavillion & Lancaster Canal, Caton Road, Lancaster, LA1

North West

£350,000
Listed on 26/10/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property encompasses approximately 1.25 acres of leasehold land, primarily featuring the Lansil Golf Club car park, an access road with a right of way granted by British Waterways, and a mature woodland area. The site is bordered on its western edge by the Lancaster Canal, providing a scenic aspect that enhances the natural environment. The leasehold tenure extends for 250 years, beginning on March 18, 2008, and offers the option to underlease. Currently, the underlease generates a monthly rent of £300. This arrangement excludes certain provisions of the 1954 Landlord and Tenant Act (Sections 24 to 28), which could provide flexibility for potential investors looking to make modifications or improvements to the property. Given its strategic location and existing features, this site presents significant renovation and development potential. The combination of accessible land and surrounding natural beauty makes it an appealing investment opportunity for those interested in capitalizing on future developments in this growing area. Viewing of the property is available during reasonable daylight hours when accompanied by these descriptive particulars. Additionally, prospective purchasers will need to complete an Identification Verification Questionnaire as part of compliance with HM Revenue and Customs regulations. For connectivity considerations, it is advisable to check available internet providers and mobile network coverage through Ofcom’s resources; be aware that results are predictions rather than guarantees, varying based on specific circumstances such as location or network availability.

Investment Analysis

(LA1 area)
Area Average
£227/sq ft
Avg Rent (weekly)
£218
Avg Yield
5.6%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£100,000 - £250,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
48
Average per month
Market Turnover
11%
Properties sold annually

Local Market Trend (LA1)

Area prices are stable by +1.9% over the last 12 months
3 year growth: 5.5%
5 year growth: 22.1%
Investment Disclaimer: Analysis based on LA1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

1.25 Acres Land abutting Lansil Pavillion & Lancaster Canal, Caton Road, Lancaster, LA1
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Mortgage Calculator

£
£
£
%
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years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,282
Based on a loan of £262,500 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE