Flat 1, Galgate Silk Mill
Flat 1, Galgate Silk Mill
Description & Estimates
The public record lists Flat 1, Galgate Silk Mill, Lancaster as a leasehold apartment.
Comparison with its neighbours suggests a modern apartment with 445 ft2 of internal area.
In this area, apartments of this size normally have 1 bedroom.
Flat 1, Galgate Silk Mill, Lancaster has an estimated sale value of £153,864 and an estimated rental value of £978 per month, assuming reasonable condition and based on the information available.
The apartment sits within Galgate Silk Mill, Chapel Lane, Galgate, Lancaster, LA2.
Chapel Lane, Galgate, Lancaster, LA2 lies in the borough of Lancaster, within the LA2 postal district.
Our Data Sources
Flat 1, Galgate Silk Mill, Lancaster has a single entry in the Land Registry from August 2021 and no records in the EPC database.
We combine this sold price information with public data of neighbouring properties to estimate the attributes and values.
The local information is scored as 1 out of 5 and is considered of low accuracy.
Price Range & Condition
In very good condition, we estimate Flat 1, Galgate Silk Mill, Lancaster would be worth £161,557, with a potential rental value of £1,027 per month.
If substantial cosmetic improvements are needed, the estimated sale value falls to £143,094, with a rental value of £909 per month.
The extent to which decoration affects a property's value depends on its type, size and location.
Recent Market Change
The estimated sale value of Flat 1, Galgate Silk Mill, Lancaster has fallen by £288 (0.2%) over the last year. During the same period, its estimated monthly rental value has moved up by £28 (2.9%). The property's estimated gross yield is currently 7.6%.
Sold Prices
Flat 1, Galgate Silk Mill, Lancaster last changed hands on 23rd August 2021, selling for £75,000. The transaction was logged as a leasehold flat by HM Land Registry.
That is its only recorded sale since 1995.
The market for similar properties has risen by 38.3% since August 2021.
- Sold Aug 2021£75,000
Similar Properties Sold Nearby
Land Registry records and our Estate Agent network show 3 sales of comparable properties within 2.7 kilometres of Flat 1, Galgate Silk Mill, Lancaster across the last 2 years.
Most recently, Flat 2, Galgate Silk Mill, Chapel Lane, Lancaster, LA2 0EY, a leasehold flat, sold at £45,000 on the 7th March 2024.
Read more about house prices in LA2.
- Sold Mar 2024£45,000 | 1 Bed FlatGalgate Silk Mill, Chapel LaneFlat 2, Galgate Silk Mill, Chapel Lane, Lancaster, LA2 0EY
- Sold Aug 2022£93,800 | 2 Bed FlatGalgate Silk Mill, Chapel LaneFlat 112, Galgate Silk Mill, Chapel Lane, Lancaster, LA2 0EY
- Sold Aug 2022£97,800 | 2 Bed FlatGalgate Silk Mill, Chapel LaneFlat 7, Galgate Silk Mill, Chapel Lane, Lancaster, LA2 0EY
•Nearby is defined as the radius comprising the nearest 2,000 addresses.
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Location Comparison
Our analysis of the public data ranks Flat 1, Galgate Silk Mill, Lancaster as the 130th largest and the 128th most expensive of the 141 addresses on Chapel Lane, Galgate, Lancaster, LA2.
Against the LA2 postcode district average, it is £167k less expensive than the typical property.
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Schools Nearby
- 300mEllel St John the Evangelist Church of England Primary School
- 3.9kmDolphinholme Church of England Primary School
- 4.1kmThurnham Glasson Christ Church, Church of England Primary School
- 5.0kmRipley St Thomas Church of England Academy
- 5.7kmLancaster Girls' Grammar School
- 5.8kmLancaster Royal Grammar School
More reading links
Public Transport Nearby
Lancaster station is the nearest stop to Flat 1, Galgate Silk Mill, Lancaster at 6.1 kilometres away.
- 6.1kmLancaster
- 9.3kmHeysham Port
- 9.5kmBare Lane
Risk of Flooding
Environment Agency data suggests this area has a very low risk of flooding.
