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The Location
Ashfield Avenue is a well-established student rental location, positioned within walking distance of Lancaster city centre and the railway station. Tenants can reach shops, cafés, pubs, gyms and everyday amenities without relying on a car, while regular bus services connect the city with Lancaster University. The station provides direct rail links to Manchester, Preston and beyond, adding further appeal for students travelling home during university breaks. This combination of convenience, transport access and proximity to the city’s social scene supports consistent rental demand. For an investor, it is a location with an established student market and the practical amenities tenants typically prioritise when choosing where to live.
The Property
A substantial, income-producing seven-bedroom HMO with a strong letting history, full occupancy secured for the 2026/27 academic year and a gross annual income of £41,328. Based on the £420,000 guide price, this represents an approximate gross yield of 9.84% before costs.
The ground floor is arranged around the needs of a shared student household. There is one letting bedroom, a separate lounge and dining area, a fitted kitchen and an additional kitchen/utility space. Together, the two kitchen areas offer generous storage, preparation space and appliance provision for seven tenants. The kitchen/utility opens directly onto the rear patio.
Three further letting bedrooms occupy the first floor, alongside a shower room with WC, wash basin and thermostatic shower. The second floor provides the final three bedrooms and a bathroom fitted with a bath, electric shower, WC and wash basin. Several bedrooms retain original cast-iron fireplaces or useful built-in storage, while double glazing and gas central heating serve the accommodation.
Outside, the enclosed patio creates a manageable outdoor area without placing heavy maintenance demands on the landlord. Furniture and white goods are included, excluding tenants’ personal belongings, helping the next owner take over an established and operational student investment. The property currently holds a valid HMO licence, although the purchaser will need to make a new application following completion.
Material Information
Freehold property.
Council Tax Band D.
Fully let for the 2026/27 academic year to seven tenants at £123 per person, per week, over 48 weeks.
Gross annual rental income of £41,328; approximate gross yield of 9.84% at the £420,000 guide price, before costs.
Valid HMO licence currently in place; the purchaser must apply for a new licence following completion.
Furniture and white goods are included, excluding tenants’ personal possessions.
Gas central heating, double glazing, a current Gas Safety Certificate and a valid EICR are in place.
