5 Bedroom Mid-Terraced House, Cheltenham Road, Lancaster, LA1

The Location

Cheltenham Road is a popular student location in South Lancaster, well placed for investors seeking consistent demand and easy access to the city. Lancaster city centre is within walking distance, giving tenants a wide choice of shops, places to eat and everyday amenities. Excellent bus routes provide convenient connections to both universities, making this a practical base for students throughout the academic year. The combination of city-centre accessibility and strong university transport links has helped the property establish an excellent letting history. For landlords looking to expand their Lancaster portfolio, this is an established rental setting with the location, accommodation and income already aligned to the student market.

The Property

Fully let, income producing and arranged as five en-suite letting rooms, this licensed student HMO offers an investor immediate income with tenancies secured for the 2026/2027 academic year.

The accommodation extends across three floors and has been planned to balance private space with comfortable communal living. On the ground floor, the entrance hallway leads to the first double bedroom, complete with a bay window and private shower room. A separate lounge gives tenants a shared place to relax, while the kitchen diner is fitted with a breakfast bar, electric hob, integrated oven and grill, washing machine and fridge freezer. There is also useful understairs storage, a cloakroom and access to the rear yard.

The first floor provides three further letting bedrooms, each with its own en-suite shower room. Two are traditionally arranged double rooms, while the front bedroom also benefits from a private kitchenette with a sink, microwave and fridge—ideal for tenants who value greater independence.

The fifth bedroom occupies the second floor and also includes an en-suite shower room and private kitchenette. This flexible arrangement, with five en-suites and two kitchenettes in total, helps the property stand apart within Lancaster’s competitive student rental market.

Outside, the low-maintenance rear yard provides a patio area and gated access to the rear service road. The majority of furniture and white goods are included, excluding tenants’ belongings and personally owned items, helping make the transition to a new landlord more straightforward.

Investment and Material Information

• Freehold property arranged as five letting bedrooms with five en-suite shower rooms.

• Fully let for the 2026/2027 academic year at £149 per person per week for 48 weeks.

• Contracted gross annual income of £35,760 for the 2026/2027 academic year.

• Valid local-authority HMO licence in place; the purchaser must apply for a new licence following completion.

• Current Gas Safety Certificate and Electrical Installation Condition Report are in place.

• Council Tax Band B – £1,914.17 per annum.

• The majority of furniture and white goods are included, excluding tenants’ belongings and personally owned items.