Canalside Lancaster Retirement Apartment with 9% Gross Return

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