Damside Street, Lancaster, LA1 1BP

• Prominent Lancaster City Centre location
• Commercial ground floor - Vacant
• First / second floor - Let Flat
• Annual Income - £9540
• Potential Annual Income - £19,540
• Investment Property
• Virtual Tour Available Upon Request

FOR SALE - Mixed-Use Investment Opportunity in Lancaster City Centre

Prominent city centre property located at the end of North Road, close to Lancaster bus station and within easy reach of the main shopping and commercial areas.

The property comprises a ground floor commercial unit together with residential accommodation above, presenting an excellent investment and development opportunity with strong income potential. The commercial premises are currently vacant, providing flexibility for an incoming purchaser to secure a new tenant or occupy the space themselves. Based on local market conditions, the commercial unit is anticipated to achieve a rental income in the region of £10,000 per annum once let.

The residential accommodation is currently occupied under an Assured Shorthold Tenancy (AST), with the tenant having moved in during December 2025 at a rent of £795 PCM. When the property is fully let, the combined income is expected to provide a gross yield in the region of 10%, making this an attractive proposition for investors seeking a strong city centre return.

This represents a rare opportunity to acquire a leasehold investment within Lancaster city centre. The leasehold is an exceptionally long lease, commonly regarded as a virtual freehold, extending for 2,000 years from June 1892.

The property occupies a prominent city centre location opposite the end of North Road and within close proximity to Lancaster bus station, benefiting from excellent visibility and accessibility. The position provides strong levels of pedestrian and vehicular traffic throughout the day, supported by nearby commercial occupiers and surrounding city centre activity.

The commercial element is particularly well suited for takeaway or other customer-facing uses, benefitting from direct access from the main road and consistent passing trade generated by commuters, shoppers, and visitors using the nearby bus station and surrounding businesses.