95 & 97a Penny Street, Lancaster, LA1 1XN

This mixed-use investment opportunity in Lancaster City Centre offers an attractive entry point for buyers looking to develop a property with both residential and commercial potential. The asking price of £135,000 is exceptionally low at £108/sqf, significantly below the local average of £229/sqf, making this a compelling acquisition for those eager to capitalize on the strong rental potential from the existing commercial tenants.

While the property is dated and requires substantial renovation, the combination of a one-bedroom flat and established commercial premises presents a unique chance to enhance value. The residential flat features a double bedroom, bathroom, kitchen, and a reception room, all of which are in need of updating. The overall condition reflects general signs of wear, but this is an opportunity to create a modern living space in a prime location, surrounded by a variety of amenities and within walking distance to the city centre. With renovation costs estimated between £50,000 and £100,000, buyers can envision the potential for significant returns on investment once the property is revitalized.