The Mill, Lancaster Investment Brochure

Student living that's far from run-ofthe-mill

Welcome to The Mill Welcome to The Mill, 119 deluxe studio apartments set in the heart of Lancaster’s thriving student community. A refurbished Victorian mill, the property combines all the amenities of modern student living with the rustic charm of Lancaster’s industrial history.

Nestled in Lancaster’s greenbelt, the property boasts an unbeatable location as the closest privately built student accommodation to Lancaster University campus. Combined, these factors make The Mill one of the city’s most desirable properties for students and investors alike.

Don’t miss your chance to own a piece of Lancaster’s past, present, and future.

The Mill Chapel Lane, Galgate, Lancaster LA2 0PR 2

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Investment Highlights The closest modern PBSA to Lancaster University Campus Prime new-build development comprising of 119 units Located in an area with no rival development potential Luxury amenities including cafe, cinema, gym and games room.

8% NET yield assured for 5 years Targeting a new demographic of students with affordable luxury living Highly experienced developer with years of management and letting experience Tap into a high-demand market, there are almost 10 returning students from outside the region for every purpose-built bed space in the city.

Entry level of ÂŁ85,000

The Mill Chapel Lane, Galgate, Lancaster LA2 0PR 4

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Why Lancaster?

Set within easy reach of some of Britain’s most breathtaking landscapes – including the Lake District, Forest of Bowland, and Yorkshire Dales – Lancaster is truly an enviable city to live in.

First settled as a Roman outpost in 1st century AD, the city boasts a long and illustrious history, both as an important regional centre and as home to one of Northern England’s premier seats of learning. Yet, with a population of just 138,375, it retains a homespun feel distinct from some of its larger neighbours.

As the county town of Lancashire, it possesses excellent transport links with the rest of the region and the UK as a whole. Lancaster is located just 52 miles north west of Manchester and provides easy access to the M6 for routes to Scotland, London, and Southern England.

Lancaster is also on the West Coast Mainline, providing fast, direct connections to all of the UK’s major cities including Edinburgh, Birmingham, Glasgow, and London. Travel to local centres such as Liverpool, Leeds, and Manchester is served by a regular regional service.

And, with Manchester International Airport and Liverpool John Lennon Airport both approximately 70 minutes away, residents benefit from a choice of over 90 destinations globally.

The Mill Chapel Lane, Galgate, Lancaster LA2 0PR 6

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Attracting 12,960 students from 142 countries

during 2017/18 Named top International University 2020 by Times and Sunday Times Student population has increased at a rate of 16% P/A since 2008/09 Lancaster is home to over 18,000 students

Lancaster: The Student Market Lancaster is home to over 18,000 students and hosts two higher education institutions: Lancaster University and The University of Cumbria’s Lancaster campus.

Lancaster University is among the best the UK has to offer. Consistently ranking in the top 10 of all three major national league tables, the institution is also within the top 1% of universities globally. In addition, Lancaster sits 3rd for graduate-level employment in the Times and Sunday Times’s Good University Guide 2019.

As a result, it’s an extremely popular destination, attracting 12,960 students from 142 countries during 2017/18.

And, it’s growing.

The student population has increased at a rate of 16% P/A since 2008/09 - well above the national average of 12%.

The city’s smaller institution, The University of Cumbria, specialises in agriculture and natural sciences and operates across six campuses throughout Cumbria and the North West. The institution attracted 8,635 students in 2016/17 and has grown continually since being granted full university status in 2007.

Lancaster University is among the best the uk has to offer The Mill Chapel Lane, Galgate, Lancaster LA2 0PR 8

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Floor Plans

Proposed Ground Floor layout

PLANT ROOM

RISER

PLATFORM LIFT

CINEMA

14 m²/145.6 SF

4 m²/44.2 SF

NO ACCESS

26 m²/277.9 SF

57 m²/612.3 SF

ARTIFICAL GREEN WALL

Our extensive experience in both student developments and lettings, means we know exactly what to offer in order to please both investors and student tenants alike. Aiming squarely at the luxury end of the market, our apartments are far larger than what the current market has to offer. And our onsite, games, café, gym and study facilities help create a thriving student community within its four walls.

CIRCULATION

CIRCULATION

22 m²/241.0 SF

28 m²/303.5 SF

01

LIFT

STUDIO 1

3 m²/32.2 SF

18 m²/199.1 SF

CYCLE STORE

The museum on the first floor is a permanent exhibition of some of the old mill machinery that has been carefully removed from the original site. The building is the world’s first mechanical silk mill, dating back to 1700, and we were keen to showcase this and preserve its important historical heritage.

25 m²/269.0 SF

RECEPTION 8 m²/82.0 SF

02

STUDIO 2

18 m²/195.5 SF

STUDY BAY

STUDY BAY

5 m²/49.5 SF

SOCIAL SPACE

5 m²/49.5 SF

ACC. WC. 6 m²/62.7 SF

03

STUDIO 3

STUDY SPACE

145 m²/1556.8 SF

18 m²/196.7 SF

108 m²/1159.1 SF

Each apartment is built to a high specification and a full furniture pack can be provided.

STUDY BAY

03

STUDIO 4

5 m²/58.7 SF

18 m²/196.7 SF

GYM

29 m²/314.2 SF

STUDY BAY 6 m²/68.8 SF

05

STUDIO 5

18 m²/197.4 SF

CIRCULATION

12 m²/126.7 SF

17 m²/178.3 SF

LOBBY

26 m²/278.8 SF

STUDIO 9

09

08

22 m²/241.5 SF

STUDIO 8

22 m²/242.0 SF

STUDIO 7

1

STUDIO 6

07

2

06

20 m²/211.7 SF

ARTIFICAL GREEN WALL

CIRCULATION

18 m²/195.8 SF

3 4 5 6 7

DN

Four Architects Limited (11613893) Note: This drawing is copyright.

Do not scale dimensions from drawings.

All dimensions must be checked on site by contractor or suitable qualified individual.

Contractor to report any discrepancies, errors or omissions prior to commencing work.

Notes:

Project Title:

N

Status:

Silk Mill

FOR INFORMATION

Location:

Scale:

Chapel Lane - GALGATE

All rooms to have indiviual air Lease-Plan_Studio 1 conditioning, heating system, WIFI and Broadband Drawing title:

Date:

1 : 100

Job Number:

19-013

Drawing Number:

Revision:

FA-DR-04-101

The Mill Chapel Lane, Galgate, Lancaster LA2 0PR 10

11

Floor Plans N

Proposed First Floor Layout

2m

0m

4m

N

Proposed second Floor layout 8m

6m

Drawing Scale 1:100 @ A2

LEGEND

LAUNDRY

Circulation

9 m²/93.2 SF

STUDIO 10

RISER

10

11

STUDIO 11

20 m²/218.6 SF

12

STUDIO 12

STORE / PLANT

20 m²/213.6 SF

RISER

21 m²/231.3 SF

20 m²/216.6 SF

4 m²/44.2 SF

4 m²/44.2 SF

CIRC.

ESCAPE STAIR

CIRCULATION 01-B RISER

27

STUDIO 27

19 m²/208.1 SF

LIFT

3 m²/32.2 SF

LANDING

RISER

39

40

STUDIO 40

19 m²/205.5 SF

19 m²/207.8 SF

28

14

STUDIO 14

29

54

15

24

31

23

17

LANDING 8 m²/83.7 SF

20 m²/219.2 SF

21

20

STUDIO 21

STUDIO 20

20 m²/217.7 SF

23 m²/250.2 SF

Project Title:

Silk Mill The Mill Chapel Lane, Galgate, Lancaster LA2 0PR Location:

Chapel Lane - GALGATE Drawing title:

Lease-Plan_Studio 10

51

19

STUDIO 19

DN

LANDING

CIRCULATION 02-D

20 m²/219.2 SF

8 m²/83.7 SF

20 m²/219.2 SF

STUDIO 18

18

50

STUDIO 50

19 m²/208.1 SF

Status: Four Architects Limited (11613893)

FOR INFORMATION Note:

This drawing is copyright.

Scale: Do not scale dimensions from drawings.

1 :All100 dimensions must be checked on site by contractor or suitable qualified individual.

JobContractor Number: to report Drawing Number: any discrepancies, errors or omissions priorFA-DR-04-110 to commencing work.

19-013

20 m²/219.7 SF

Notes: Date:

Revision:

F

Architects

CIRCULATION 02-C 20 m²/219.2 SF

49

STUDIO 49

21 m²/225.3 SF

48

STUDIO 48

24 m²/258.6 SF

Project Title:

Four

45

STUDIO 45

19 m²/209.4 SF

19 m²/209.1 SF

CIRCULATION 01-C

20 m²/217.7 SF

STUDIO 60

20 m²/210.0 SF

STUDIO 51

19 m²/207.9 SF

UP

CIRCULATION 01-D

60

STUDIO 59

20 m²/210.0 SF

STUDIO 17

19 m²/207.6 SF

19 m²/208.0 SF

59

STUDIO 32

20 m²/210.0 SF

STUDIO 23

44

STUDIO 44

STUDIO 52

19 m²/206.6 SF

32

STUDIO 31

61

20 m²/210.1 SF

52

16

19 m²/205.6 SF

20 m²/210.0 SF

STUDIO 61

58

20 m²/210.1 SF

STUDIO 16

STUDIO 24

19 m²/206.5 SF

STUDIO 58

33

20 m²/210.1 SF

19 m²/205.6 SF

43

STUDIO 43

53

STUDIO 53

19 m²/208.0 SF

STUDIO 33

30

19 m²/208.8 SF

19 m²/208.8 SF

STUDIO 15

STUDIO 30

62

57

19 m²/205.6 SF

20 m²/210.1 SF

42

STUDIO 42

19 m²/206.9 SF

STUDIO 62

STUDIO 57

34

25

63

STUDIO 63

19 m²/203.5 SF

STUDIO 54

19 m²/208.8 SF

STUDIO 25

STUDIO 41

19 m²/208.1 SF

19 m²/207.0 SF

STUDIO 34

19 m²/205.6 SF

41

RISER

1 m²/16.0 SF

4 m²/48.3 SF

56

19 m²/205.6 SF

19 m²/208.8 SF

LANDING

LIFT

3 m²/32.2 SF

19 m²/203.5 SF

19 m²/205.6 SF

STUDIO 29

2 m²/16.7 SF

STUDIO 56

STUDIO 35

26

RISER

55

19 m²/208.2 SF

19 m²/203.5 SF

STUDIO 26

27 m²/287.7 SF

STUDIO 55

13

STUDIO 13

35

STUDIO 28

CIRCULATION 02-B

24 m²/259.7 SF

19 m²/208.1 SF

4 m²/48.3 SF

19 m²/203.5 SF

12

STUDIO 39

38

STUDIO 38

19 m²/205.1 SF

CIRCULATION 02-A

28 m²/306.0 SF

24 m²/259.7 SF

22

37

STUDIO 37

20 m²/213.6 SF

21 m²/224.0 SF

CIRCULATION 01-A

STUDIO 22

36

STUDIO 36

Area of Ownership 20 m²/217.2 SF

ESCAPE STAIR

2 m²/22.7 SF

20 m²/220.4 SF

19 m²/207.5 SF

Study Space

Communal

47

STUDIO 47

46

STUDIO 46

21 m²/225.3 SF

20 m²/219.4 SF

Status:

Silk Mill

FOR INFORMATION

Location:

Scale:

Chapel Lane - GALGATE

Drawing title: 113 Portland Street, Manchester, M1 6DW Tel. 01614707969 Email. info@fourarchitects.co.ukLease-Plan_Studio 36

Date:

1 : 100

Job Number:

19-013

Drawing Number:

FA-DR-04-136

13

Floor Plans N

Proposed THIRD Floor layout

2m

0m

4m

6m

N

Proposed Fourth Floor layout 8m

Drawing Scale 1:100 @ A2

LEGEND Circulation

64

65

STUDIO 64

STUDIO 65

21 m²/226.7 SF

21 m²/221.5 SF

66

67

STUDIO 66

92

STUDIO 67

20 m²/219.3 SF

21 m²/221.4 SF

93

STUDIO 92 Area of Ownership 21 m²/226.7 SF

68

STUDIO 93

21 m²/221.5 SF

94

95

STUDIO 94

STUDIO 95

20 m²/219.3 SF

21 m²/221.3 SF

STUDIO 96

96

STUDIO 68

22 m²/232.5 SF

22 m²/232.9 SF

CIRCULATION 03-B

CIRCULATION 03-A RISER

83

STUDIO 83

2 m²/16.7 SF

19 m²/208.2 SF

69

STUDIO 112

70

90

113

81

71

STUDIO 71

STUDIO 99

99

109

19 m²/206.5 SF

19 m²/208.0 SF

114

STUDIO 89

89

72

STUDIO 72

80

STUDIO 80

108

100

STUDIO 100

19 m²/206.6 SF

19 m²/208.0 SF

115

73

STUDIO 73

79

STUDIO 79

STUDIO 101

101

107

19 m²/209.4 SF

19 m²/209.1 SF

CIRCULATION 03-C

CIRCULATION 04-D

20 m²/219.2 SF

77

76

STUDIO 77

STUDIO 76

24 m²/258.6 SF

Project Title:

The Mill Chapel Lane, Galgate, Lancaster LA2 0PR Silk Mill Location:

Chapel Lane - GALGATE Drawing title:

Lease-Plan_Studio 64

75

STUDIO 75

21 m²/225.3 SF

20 m²/210.0 SF

STUDIO 107

19 m²/209.4 SF

21 m²/225.3 SF

STUDIO 116

20 m²/210.0 SF

19 m²/209.1 SF

20 m²/219.2 SF

116

STUDIO 115

88

STUDIO 88

20 m²/210.0 SF

CIRCULATION 03-D

20 m²/210.1 SF

STUDIO 108

19 m²/208.0 SF

87

STUDIO 117

20 m²/210.1 SF

19 m²/206.6 SF

STUDIO 87

117

STUDIO 114

20 m²/210.1 SF

20 m²/210.0 SF

19 m²/208.8 SF

STUDIO 109

19 m²/206.5 SF

86

STUDIO 118

19 m²/208.8 SF

STUDIO 81

STUDIO 86

118

STUDIO 113

19 m²/208.0 SF

14

98

STUDIO 98

19 m²/206.9 SF

19 m²/207.0 SF

19 m²/208.8 SF

20 m²/210.1 SF

119

19 m²/203.5 SF

STUDIO 110

STUDIO 90

85

CIRCULATION 04-C

20 m²/219.2 SF

106

74

STUDIO 74

105

STUDIO 106

20 m²/219.4 SF

Status: Four Architects Limited (11613893) FOR INFORMATION Note: This drawing is copyright.

Scale: Do not scale dimensions from drawings. : 100 must be checked on site by All1dimensions contractor or suitable qualified individual.

Job Number: Drawing Number: errors Contractor to report any discrepancies, 19-013 FA-DR-04-164 or omissions prior to commencing work.

19 m²/208.1 SF

110

STUDIO 70

19 m²/206.9 SF

STUDIO 85

97

STUDIO 97

1 m²/16.0 SF

STUDIO 119

112

19 m²/203.5 SF

82

19 m²/208.8 SF

LIFT

RISER

3 m²/32.2 SF

91

STUDIO 82

78

2 m²/16.7 SF

19 m²/208.2 SF

19 m²/203.5 SF

19 m²/207.0 SF

STUDIO 78

STUDIO 111

19 m²/208.1 SF

STUDIO 91

84

STUDIO 84

20 m²/219.7 SF

RISER

111

STUDIO 69

1 m²/16.0 SF

3 m²/32.2 SF

19 m²/203.5 SF

27 m²/287.0 SF

24 m²/259.7 SF

RISER

LIFT

CIRCULATION 04-B

CIRCULATION 04-A

27 m²/287.0 SF

24 m²/259.7 SF

STUDIO 105

20 m²/219.7 SF

Notes: Date:

Revision:

F

21 m²/225.3 SF

20 m²/219.2 SF

104

STUDIO 104 24 m²/258.6 SF

Project Title:

Four Architects

103

102

STUDIO 103

STUDIO 102

21 m²/225.3 SF

20 m²/219.4 SF

Status:

Silk Mill

FOR INFORMATION

Location:

Scale:

Chapel Lane - GALGATE

Drawing title: 113 Portland Street, Manchester, M1 6DW Tel. 01614707969 Email. info@fourarchitects.co.uk Lease-Plan_Studio 92

Date:

1 : 100

Job Number:

19-013

Drawing Number:

FA-DR-04-192

15

Location

map

Few, if any, student lodgings in Lancaster can offer The Mill’s location. Just a stone’s throw from Lancaster University’s main campus, the property combines convenience with stunning countryside.

M6

l Rail Nationa

And, with the university’s sports centre and local bars just a 10-minute walk away, all the trappings of student living are on residents’ doorstep. There’s even a 4-star hotel nearby for visiting parents and relatives.

E05

The property also boasts fantastic transport links, with a several bus routes to Lancaster city centre and the train station. Alternatively, both are within a short car journey.

E05 M6

So, if you’re looking for a property right at the centre of Lancaster’s student community, with scenic views to boot – look no further.

A6

National Rail

E05 M6

The Mill, Chapel Lane, Galgate, Lancaster LA2 0PR

Lancaster University

Lancaster University - Cartmel College The Mill

Lancaster House Hotel

Lancaster university Sports Centre

The trough of Bowland Bar

The Mill Chapel Lane, Galgate, Lancaster LA2 0PR 16

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Previous projects Sir thomas House

5 Sir Thomas Street, Liverpool L1 6BW 20 21 Described by the Liverpool Echo as the city’s “most luxurious student flats”, our most recent mill conversion has redefined student living in Liverpool. Featuring a cinema, games room and cutting-edge gym, Sir Thomas House is a long way from the ramshackle terraces most of us associate with student housing.

For tenants, the benefits are obvious: a living experience that’s a world away from conventional student digs and facilities that would embarrass most hotels. All at a reasonable rent.

For investors, the property represented a chance to own a prime slice of Liverpool city centre – within walking distance of its two universities. In the short time it’s been open, the property has proved incredibly popular with the student market – remaining oversubscribed throughout and delivering healthy early returns for property owners.

Jubilee House

Jubilee Church, Jubilee Drive, L7 8SJ Conversion of a former church into 42 studio apartments.

The Lightbox

3 – 5 Lower Gill Street, L3 5BB Purpose Built 5 storey student block delivered within 12 months. Still owned by the developer today.

The Mill Chapel Lane, Galgate, Lancaster LA2 0PR 18

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Frequently Asked Questions Q. Will the developer own the freehold?

A. Yes, we will continue to own the freehold. However, we offer a leasehold of 125 years on each unit.

Q. Do you offer assured returns? If so, how long for?

A. We offer a contractual return for 5 years from the date of purchase.

Q. What happens at the end of the 5-year period?

A. In most cases, we will continue to manage the property and offer a revised assured rent.

Q. Can I manage my own unit?

A. Yes. You can choose to self-manage immediately, although, this means forgoing the assured rent option. Alternatively, we offer self-management as an option once the 5-year contractual period has ended.

Q. Who are the Directors on the project?

A. Brian Price BSc (Hons) MARLA and Graeme Middleton of Middleton solicitors.

There is a detailed profile available on request.

Q. Does the developer have a track record?

A. Certainly, both have a long and distinguished record of delivering a substantial return

on investment from its developments – particularly in new build and renovated student accommodation.

Q. What is the name of the building company?

A. The development is managed by Innov8 who have a large and diverse range

of experience in similar builds and projects right the way through to schools and football stadiums.

Q. Do they have a track record?

A. Yes, dozens of projects and background can be found on their website: innov8ds.co.uk

Q. Who currently owns the building?

A. The building is wholly owned by the Developers.

Q. Is full planning permission granted?

A. Yes, Lancaster City Council has approved the development.

Q. What is the name of the architect involved?

A. Four Architects.

Q. What is the estimated completion date?

A. January 2021 Q. What happens if the building company becomes insolvent during the build?

A. We pay our builders in arrears on staged drawdowns, so your investment is 100% protected.

Q. When will I receive my first returns?

A. We will pay all investors quarterly in arrears following the launch of the property.

Q. Will I receive my returns monthly, quarterly or annually?

A. All returns are paid quarterly.

Q. What documentation will I sign?

A. Lease and Underlease will be used.

Q. Can I resell my unit at any stage?

A. Yes, the leasehold is yours to sell.

Q. Will I get regular build updates?

A. Yes, we update our investors monthly and are available now.

Q. Is the developer using any of their own funds for the build?

A. Yes, initial funding for the work is being provided by both developers.

The Mill Chapel Lane, Galgate, Lancaster LA2 0PR 20

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The Mill Chapel Lane Galgate Lancaster LA2 0PR