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
3
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