95 & 97a Penny Street, Lancaster, LA1 1XN
North West
£135,000Guide Price
Listed on 15/10/2026
Listed on 15/10/2026
The listing
Property details
Bedrooms
1Type
Mixed UseArea
1255 sqftFeatures
- Tenanted
Description
A mixed-use property in Lancaster city centre, comprising a two-floor hairdressing salon and barber shop alongside a separate one-bedroom flat with its own entrance. The commercial units are occupied by established tenants who are stated to remain, while the flat includes a double bedroom, bathroom, kitchen and reception room and is described as needing renovation. The combination of commercial and residential accommodation may suit buyers seeking an income-producing asset with refurbishment work to the residential element. Lancaster station, the Royal Lancaster Infirmary and city-centre amenities are within walking distance. Offered through the Modern Method of Auction, with a 56-day reservation period and a buyer information pack and reservation fee payable under the auction terms.
WHOTS analysis
Our WHOTS verdict
An internal assessment of the opportunity to acquire, improve and create value.
66out of 100
Grade CPotential opportunity
Confidence: MEDIUM
At £135,000, this mixed-use Lancaster city-centre property is priced at about £108/sqf, well below the local £229/sqf average — a strong acquisition opportunity. The salon and barber shop are fitted out and have established tenants remaining, while the separate one-bedroom flat offers scope to create value through a substantial renovation. Its stone frontage and visible roofline also appear generally intact in the supplied view.
The flat is a serious project: bedroom floors have large missing sections and exposed joists, with dated finishes elsewhere; the compact kitchen and bathroom also offer clear scope for improvement. The £35,000–£65,000 renovation range signals a full-gut programme rather than a cosmetic refresh, and the floor damage and repair scope need careful inspection. The listing is being sold by auction; bidding can take the hammer above the guide, so the eventual price may not stay this cheap.
Key opportunities
- Acquire the commercial premises and separate flat at a strong discount to the local £/sqf average, with established salon and barber tenants remaining.
- Rework the one-bedroom flat as a substantial improvement project, addressing the damaged floors and dated finishes to create a more appealing residential space.
- Retain and build on the property’s city-centre mixed-use character and street-facing stone frontage.
Key risks
- Large missing floor sections, exposed joists and voids make the flat a full-gut programme; the £35,000–£65,000 works range needs validating against the floor repairs and overall timetable.
- The condition of concealed and rear areas is not established by the supplied exterior view.
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Current average 2-year fixed rate is 4.45%
Current average variable rate is 6.60%
Monthly Repayments
£510
Based on a loan of £101,250 over 30 years at 4.45% 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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