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AGENT'S DETAILS


For Sale - PART COMPLETE STUDENT ACCOMMODATION DEVELOPMENT OPPORTUNITY – CABLE STREET, LANCASTER, LA1 5HD

For sale: POA|2747 Sq M|Other, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALEPOA
SIZE2747 Sq M
ADDRESSFor Sale - PART COMPLETE STUDENT ACCOMMODATION DEVELOPMENT OPPORTUNITY – CABLE STREET, LANCASTER, LA1 1HD
TYPEOther, Other Property Types & Opportunities
TENUREDevelopment Opportunity, For Sale Freehold
POSTED ON12th October 2020

DESCRIPTION

REGIONAL LOCATION
The City of Lancaster is the historic county town of Lancashire in the north west of England on the banks of the River Lune and the historic Lancaster Canal. Lancaster Castle, owned by the Duchy of Lancaster dating back to Roman times and occupying a prominent situation overlooking the city is one of numerous historic attractions drawing tourists to the city.

Located adjacent to junctions 33 and 34 of the M6 motorway, Lancaster’s strategic location in the north west offers excellent connectivity with Manchester, Liverpool and Preston to the south and the Lake District, Yorkshire Dales and Scotland to the north. Furthermore, Lancaster benefits from being situated on the west coast mainline with direct rail services to Manchester (55 minutes), Glasgow (2 hours 4 minutes) and London (2 hours 40 minutes).

IMMEDIATE LOCATION
The property is located in a very prominent position on Cable Street and is strategically located for students.
• Situated in the heart of the city centre providing easy access to its excellent range of amenities including shops, bars, restaurants and night life.
• Lancaster railway station is located circa 8 minutes walk to the west.
• The city’s main bus station sits directly opposite with connections to Lancaster University every 5 minutes on week days.
• Two off-road cycling routes to Lancaster University including one from the city centre along the Lancaster Canal taking approximately 13 minutes.
• The University of Cumbria’s Lancaster campus is approximately 15 minutes walk to the east.

LANCASTER UNIVERSITY
Lancaster is the home to two Higher Education Institutions: Lancaster University and University of Cumbria and approaching 19,000 students. Lancaster University is currently ranked 8th in the UK and occupies a 560 acre parkland campus at Bailrigg, approximately 3 miles south of Lancaster city centre. The University continues to expand with over 12,000 students and approximately 2,500 employees living within the area. Many students live in Lancaster city centre and commute out to the campus for their studies. The University of Cumbria attracts approximately 6,500 fulltime students and operates across six campuses throughout Cumbria. The Lancaster campus is the largest, home to approximately half of its total population.

DEVELOPMENT DESCRIPTION
A part complete student development being the conversion of No. 5 Cable Street and the new build four and five-storey accommodation block providing 87 studio apartments together with one two-bedroomed apartment. The site itself comprises approximately 0.15 hectares (0.36 acres) being rectangular in shape with a three-storey Grade II listed building (5 Cable Street) with the new build block to the rear. The ground and first floor of the conversion have been designed to provide a high quality common room arranged over two levels creating a social hub for residents. This will link through to the new build studio
accommodation which includes pod en-suite bathrooms, ¾ or double bed units with fitted furniture including desk, wardrobe, shelving and storage.

The consented scheme comprises the following accommodation: The gross internal floor area has been estimated to be 2,747 m² (29,563 ft²).

TENURE
Freehold.

PLANNING
We understand the site benefits from 2 principal planning permissions as follows: Reference: 15/01368/FUL
Address: 5 And 6 Cable Street Lancaster Lancashire LA1 1HD
Proposal: Demolition of the rear extension to no. 5 Cable Street, change
of use of no. 5 Cable Street from a social club to student
accommodation comprising 4 studios, 2 bed cluster flat and
common rooms and erection of a part 2, 4 and 5 storey student
accommodation building comprising 83 studios with a single
storey link building and Relevant Demolition of an unlisted building
(no. 6 Cable Street) in Lancaster Conservation Area
Decision Date: Thu 04 Feb 2016
Reference: 15/01369/LB
Address: 5 And 6 Cable Street Lancaster Lancashire LA1 1HD

Proposal: Listed Building application for the demolition of no. 6 Cable Street, the rear extension to no. 5 Cable Street and the 2 terraces of garages, works to facilitate the change of use of no. 5 Cable Street from a social club to student accommodation comprising 4 studios, a 2 bed cluster flat and common rooms, erection of a single storey link building to the rear and alterations to the boundary wall Decision Date: Tue 02 Feb 2016. Further information is available within the technical pack, however, interested parties are invited to make any planning related enquiries to the local planning authority, Lancaster City Council.

TECHNICAL INFORMATION
In the first instance, interested parties are requested to formally register with Eckersley who will thereafter provide an electronic link to download the technical information available.

METHOD OF SALE
We are seeking expressions of interests prior to offer with timescales and offer guidelines to be provided in due course.

LOCATION

Location: For Sale - PART COMPLETE STUDENT ACCOMMODATION DEVELOPMENT OPPORTUNITY – CABLE STREET, LANCASTER, LA1 1HD

Lancaster (0.3 miles)

Bare Lane (2.2 miles)

Morecambe (3.3 miles)

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