Flat 7, Galgate Silk Mill
Flat 7, Galgate Silk Mill
Description & Estimates
According to the public record, Flat 7, Galgate Silk Mill, Lancaster is a leasehold apartment.
By comparing it to neighbours, we estimate that it is a modern apartment with 482 ft2 of internal area.
Apartments of this size in this area normally have 2 bedrooms.
Based on available information, and assuming reasonable condition, the estimated sale value for Flat 7, Galgate Silk Mill, Lancaster is £161,120 and the estimated rental value is £1,039 per month.
The apartment is within Galgate Silk Mill, Chapel Lane, Galgate, Lancaster, LA2.
Chapel Lane, Galgate, Lancaster, LA2 is located in the borough of Lancaster within the LA2 postal district.
Our Data Sources
Flat 7, Galgate Silk Mill, Lancaster has a single entry in the Land Registry from August 2022 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
Decorative condition can have a big effect on a property's value and this effect varies depending on the type, size and location of the property.
If Flat 7, Galgate Silk Mill, Lancaster is in very good condition we estimate a sale value of £169,176 and a rental value of £1,091 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £149,842 and a rental value of £966 per month.
Recent Market Change
Over the past 12 months, the estimated sale value of Flat 7, Galgate Silk Mill, Lancaster has declined by £1,223 (0.8%), while its estimated rental value has climbed by £29 per month (2.8%). Based on current estimates, the property offers a gross rental yield of 7.7%.
Sold Prices
According to HM Land Registry, Flat 7, Galgate Silk Mill, Lancaster was last sold on 22nd August 2022 for £97,800 and was recorded as a leasehold flat.
The property has only had this single sale since 1995.
Since August 2022, the market for similar properties has risen by 1.9%.
- Sold Aug 2022£97,800
Similar Properties Sold Nearby
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to Flat 7, Galgate Silk Mill, Lancaster within a radius of 2.7 kilometres over the last 2 years.
The most recent example is Flat 2, Galgate Silk Mill, Chapel Lane, Lancaster, LA2 0EY, a leasehold flat which sold for £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 Jul 2021£85,000 | 2 Bed FlatGalgate Silk Mill, Chapel LaneFlat 113, Galgate Silk Mill, Chapel Lane, Lancaster, LA2 0EY
•Nearby is defined as the radius comprising the nearest 2,000 addresses.
More reading links
Location Comparison
Chapel Lane, Galgate, Lancaster, LA2 has a total of 141 addresses. According to our analysis of all the public data, Flat 7, Galgate Silk Mill, Lancaster is the 122nd largest and the 24th most expensive property on the street.
When compared to the postcode district it is £160k less expensive than the average property in LA2.
More reading links
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
The closest station to Flat 7, Galgate Silk Mill, Lancaster is Lancaster station, which is 6.1 kilometres away.
- 6.1kmLancaster
- 9.3kmHeysham Port
- 9.5kmBare Lane
Risk of Flooding
According to data from the Environment Agency, the flood risk in this area is considered to be very low.
