Flat 8, Galgate Silk Mill
Flat 8, Galgate Silk Mill
Description & Estimates
Flat 8, Galgate Silk Mill, Lancaster appears in the public record as a leasehold apartment.
We estimate it to be a modern apartment with 503 ft2 of internal area by comparing it to nearby properties.
Locally, apartments of this size normally have 2 bedrooms.
Our estimate of the sale value of Flat 8, Galgate Silk Mill, Lancaster is £164,112 and its rental estimate is £1,047 per month, given the available information and assuming reasonable condition.
Galgate Silk Mill, Chapel Lane is a residential building on Chapel Lane, Galgate, Lancaster, LA2 and falls within the LA2 postal district and the borough of Lancaster.
Our Data Sources
Flat 8, Galgate Silk Mill, Lancaster has a single entry in the Land Registry from July 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
The condition of a property plays an important role in determining its value, with the degree of impact varying by property type, size and location.
For Flat 8, Galgate Silk Mill, Lancaster, we estimate a market value of £172,317 and a rental value of £1,100 per month when presented in very good decorative order. Should the property require extensive cosmetic improvement, those figures would reduce to £152,624 and £974 per month respectively.
Recent Market Change
Over the last year, Flat 8, Galgate Silk Mill, Lancaster has seen its estimated sale value drop by £1,246 (0.8%) and its estimated rental value rise by £29 per month (2.8%). This results in an estimated gross rental yield of 7.7%.
Sold Prices
The most recent sale of Flat 8, Galgate Silk Mill, Lancaster completed on 27th July 2021 at £94,950 and was recorded by HM Land Registry as a leasehold flat.
Since 1995 this is the property's only sale.
Values of comparable properties have risen by 12.0% over the period since July 2021.
- Sold Jul 2021£94,950
Similar Properties Sold Nearby
Over the past 2 years 3 properties similar to Flat 8, Galgate Silk Mill, Lancaster have sold within a radius of 2.7 kilometres, per the Land Registry and our network of Estate Agents.
The latest, on the 16th August 2022, was Flat 109, Galgate Silk Mill, Chapel Lane, Lancaster, LA2 0EY, a leasehold flat which sold for £105,800.
Read more about house prices in LA2.
- Sold Aug 2022£105,800 | 2 Bed FlatGalgate Silk Mill, Chapel LaneFlat 109, Galgate Silk Mill, Chapel Lane, Lancaster, LA2 0EY
- Sold Aug 2021£97,500 | 2 Bed FlatGalgate Silk Mill, Chapel LaneFlat 407, Galgate Silk Mill, Chapel Lane, Lancaster, LA2 0EZ
- Sold Aug 2021£97,500 | 2 Bed FlatGalgate Silk Mill, Chapel LaneFlat 105, 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
Of the 141 addresses on Chapel Lane, Galgate, Lancaster, LA2, Flat 8, Galgate Silk Mill, Lancaster comes out as the 120th largest and the 22nd most expensive in our analysis of the public data.
It is also £157k less expensive than the average property across the LA2 district.
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
From Flat 8, Galgate Silk Mill, Lancaster, the nearest station is Lancaster, 6.1 kilometres away.
- 6.1kmLancaster
- 9.3kmHeysham Port
- 9.5kmBare Lane
Risk of Flooding
The flood risk here is rated very low, based on Environment Agency data.
