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Canalside Lancaster Retirement Apartment with 9% Gross Return

Posted on Tuesday, September 3, 2019

This week we have chosen to look at the popular Spinners Court retirement development in the city centre. It has an envious location being just a few minutes walk from the hustle and bustle of the city centre whilst also enjoying the beautiful Lancaster Canal. This one-bedroom apartment offers bright and natural spaces with a good-sized bedroom, spacious living area and fitted kitchen and bathroom. This particular property is situated at the front of the development overlooking the canal. There are also well-maintained gardens and a communal lounge area for the residents to get together and have a catch up. It currently has an asking price of £80,000 and with a small amount of decoration, you could see a rental income of £600 PCM you could see a healthy £7,200 gross yield which works out a 9% gross return. Please note, as this is a retirement development both owners and tenants must be over 55. https://www.jdg.co.uk/property-details/29055671