The-Mill Welcome to the Mill

Student Living That's Far From Run-of- the-mill Welcome to The Mill

Welcome to The Mill, 107 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 The Mill Chapel Lane, Galgate, Lancaster LA2 0PR

4 Investment Highlights

The closest modern PBSA to Lancaster University Campus

Prime new-build development comprising of 107 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 £85,000

5 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 7 Attracting 12,960 students from 142 countries during 2017/18

The Institution attracted 8,635 students in 2016/17

Student population has increased at a rate of 16% P/A since 2008/09

Lancaster is home to over 18,000 students

Lancaster University is among the best the uk has to offer

8 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.

The Mill Chapel Lane, Galgate, Lancaster LA2 0PR

9 Floor Plans

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.

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.

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

The Mill Chapel Lane, Galgate, Lancaster LA2 0PR

10 Proposed Ground Floor layout

All rooms to have individual air conditioning, heating system, Notes Project Title: Status: Silk Mill Concept Four Architects Limited (11613893) WIFI and Broadband Note: Location: Scale: Date: This drawing is copyright. Do not scale dimensions from drawings. Chapel Lane - GALGATE 1:100@A1 05.06.2019 All dimensions must be checked on site by contractor or A r c h i t e c t s suitable qualified individual. Drawing Title: Job Number: Drawing Number: Revision: Contractor to report any discrepancies, errors or omissions 7th Floor, Neo Building, Charlotte Street, Manchester, M1 4ET prior to commencing work. Sketch 19-013 - SK01 - Tel. 0161 470 7969 Email. [email protected]

11 Floor Plans

EXISTING CHIMNEY PROPOSED CONVERSION TO STUDENT TO BE ACOMMODATION & MUSEUM REUSED Proposed First Floor Layout N

BESPOKE SILO - WOOD PELLET FEED UTILITY SHAFT EXISTING WATER TANK PIPE

EXISTING FIRE HOSE WATER PIPE S UP D UP EXISTING LIFT DOOR TO BE REFURBISHED AND REINSTATED FOR DECORATIVE PURPOSES ONLY Room 06 Room 07 STOCK ROOM LAUNDRETTE ROOM 08 • All dimensions and levels to be NO PUBLIC OR STUDENT USE 0624 m² 26 07m² 13 m² 13 m² 0822 m² checked on site. PLANT ROOM FOR LIGHTING, HEATING,VENTILATION AND DUCTING h • Any discrepancies are to be reported to S t D SMOKE or the Architect before any work SHAFT N commences

Smoke detectors to be fitted All corridor doors on all floors should be 30 min fire resisting and in all the corriodors on all S be fitted with a compliant self closing device S • This drawing shall not be reproduced floors at 12 metre intervals D D ROOM09 09 without express written permission from 19 m² UK MILLS LTD

GLAZED S LIFT D • This drawing shall not be scaled to ascertain and dimensions. work to Room22 22 Room29 29 figured dimensions only. 19 m² OBS GLAZING AND 19 m² ALL ROOMS TO HAVE MANUAL BLINDS INDIVIDUAL AIR CONDITIONING, ROOM 21 SYSTEM HEATING SYSTEM, WIFI AND 1921 m² BROADBAND ORIGINAL STRUCTURE OPEN TO VIEW

ROOM 10 1020 m² 0m 2m 4m 6m 8m 10m ATRIUM 41 m² S D ROOM 28 Room23 23 1928 m² VISUAL SCALE 1:100 @ A2 19 m²

ROOM20 20 20 m²

WINDOWS TO BE SEALED. A SECOND INTERIOR PILKINGTON OPTIPHON HIGH QUALITY ACOUSTIC LAMINATED GLASS BARRIER TO BE INSTALLED TO OFFER NOISE REDUCTION. ROOM24 24 27Room 27 ROOM11 11 19 m² 19 m² 26 m² UK MILLS LTD ROOM 19 18 m² S 19 D

UP THE MILL, GLASS CHAPEL LANE, 25 FLOOR ROOM 25 26ROOM 26 20 m² 20 m² GALGATE,

SMOKE LANCASTER, ROOM 18 SHAFT ROOM12 12 22 m² 25 m² LA2 0PR 18

S S D D PROPOSED FIRST FLOOR RECYCLING STORAGE Project number 01 Date 25/02/2015 Drawn by A P ROOM17 17 ROOM16 16 ROOM15 15 ROOM14 14 ROOM13 13 24S m² 21 m² 20 m² 21 m² 20 m² D Checked by A.H & I.P

EXISTING TOILET TOWER TO BE REFURBISHED AND LB16 RETAINED FOR DECORATIVE PURPOSES ONLY STUDENT ENTRANCE GLASS ROOF Scale 1 : 100

The Mill Chapel Lane, Galgate, Lancaster LA2 0PR

12 PROPOSED CONVERSION TO STUDENT EXISTING CHIMNEY TO BE ACOMMODATION & MUSEUM REUSED

Proposed second Floor layout N

UTILITY SHAFT EXISTING WATER TANK PIPE

EXISTING FIRE HOSE WATER PIPE UP DN UP • All dimensions and levels to be EXISTING LIFT DOOR TO BE REFURBISHED AND REINSTATED checked on site. FOR DECORATIVE PURPOSES ONLY ROOM 30 ROOM 31 Room 32 ROOM 33 ROOM 34 NO PUBLIC OR STUDENT USE 19 m²30 2031 m² 3220 m² 3320 m² 19 m²34 PLANT ROOM FOR LIGHTING • Any discrepancies are to be reported to VENTILATION, HEATING AND DUCTING the Architect before any work h DN SMOKE t commences SHAFT or EXISTING WALL TO REMAIN N • This drawing shall not be reproduced without express written permission from

Smoke detectors to be fitted S All corridor doors on all floors should be 30 min fire resisting and S in all the corriodors on all be fitted with a compliant self closing device UK MILLS LTD floors at 12 metre intervals D D S D ROOM 35 1935 m² • This drawing shall not be scaled to GLAZED ascertain and dimensions. work to LIFT figured dimensions only. 55 48 OBS GLAZING AND MANUAL BLIND ALL ROOMS TO HAVE ROOM 47 ROOM 48 SYSTEM ROOM 55 INDIVIDUAL AIR CONDITIONING, 19 m² 19 m² 19 m² HEATING SYSTEM, WIFI AND 47 BROADBAND 0m 2m 4m 6m 8m 10m ROOM 36 20 36m² VISUAL SCALE 1:100 @ A2

ORIGINAL STRUCTURE ROOM 54 49 OPEN TO VIEW 5419 m² ROOM 49 ROOM 46 19 m² 2046 m²

WINDOWS TO BE SEALED. A SECOND INTERIOR PILKINGTON OPTIPHON HIGH QUALITY ACOUSTIC LAMINATED GLASS BARRIER TO BE INSTALLED TO OFFER NOISE REDUCTION. ROOM 37 UK MILLS LTD 50 ROOM53 53 2637 m² S 19 m² D ROOM 50 19 m² ROOM 45 1845 m² THE MILL, CHAPEL LANE, DN UP GALGATE, ROOM51 51 GLASS 52 20 m² FLOOR LANCASTER, ROOM 52 20 m² LA2 0PR SMOKE ROOM 44 SHAFT ROOM 38 3825 m² 2244 m² PROPOSED SECOND

S S S FLOOR D D D Project number 01 RECYCLING STORAGE Date 25/02/2015 Drawn by A P A.H & I.P 43 42 41 40 39 Checked by ROOM 43 ROOM 42 ROOM 41 24 m² 21 m² 20 m² ROOM 40 ROOM 39 21 m² 20 m² LB 17

EXISTING TOILET TOWER TO BE REFURBISHED AND Scale 1 : 100 RETAINED FOR DECORATIVE PURPOSES ONLY

13 PROPOSED CONVERSION TO STUDENT Floor Plans EXISTING CHIMNEY TO BE ACOMMODATION & MUSEUM REUSED Proposed THIRD Floor layout N

UTILITY SHAFT EXISTING WATER TANK PIPE

EXISTING FIRE HOSE WATER PIPE S UP DN D

EXISTING LIFT DOOR TO UP • All dimensions and levels to be BE REFURBISHED AND REINSTATED FOR DECORATIVE PURPOSES ONLY checked on site. NO PUBLIC OR STUDENT USE ROOM56 56 Room57 57 ROOM58 58 59ROOM 59 ROOM60 60 20 m² 21 m² 21 m² 21 m² 19 m² PLANT ROOM FOR LIGHTING • Any discrepancies are to be reported to VENTILATION, HEATING AND DUCTING the Architect before any work DN h S S SMOKE t commences D D SHAFT or N • This drawing shall not be reproduced without express written permission from

Smoke detectors to be fitted All corridor doors on all floors should be 30 min fire resisting and in all the corriodors on all S be fitted with a compliant self closing device S UK MILLS LTD floors at 12 metre intervals S D D D ROOM 61 6119 m² • This drawing shall not be scaled to GLAZED ascertain and dimensions. work to LIFT figured dimensions only. 74 81 ROOM 73 ROOM 74 OBS GLAZING AND ROOM 81 19 m² 19 m² MANUAL BLIND 19 m² 73 SYSTEM 0m 2m 4m 6m 8m 10m 62 VISUAL SCALE 1:100 @ A2 ROOM 62 WINDOWS TO BE SEALED. A SECOND ATRIUM 20 m² INTERIOR PILKINGTON OPTIPHON HIGH 41 m² QUALITY ACOUSTIC LAMINATED 80 GLASS BARRIER TO BE INSTALLED TO 75 OFFER NOISE REDUCTION. ORIGINAL STRUCTURE ROOM 72 ROOM 75 OPEN TO VIEW ROOM 80 20 m² 19 m² 19 m² 72

79 ROOM 63 UK MILLS LTD 76 ROOM 79 26 m² 19 m² 63 ROOM 76 19 m² ROOM 71 18 m² 71 DN THE MILL,

ALL ROOMS TO HAVE CHAPEL LANE, INDIVIDUAL AIR CONDITIONING, HEATING SYSTEM, WIFI AND GALGATE, BROADBAND GLASS 78 77 FLOOR UP LANCASTER, ROOM 77 ROOM 78 S ROOM 64 20 m² 20 m² D 25 m² LA2 0PR ROOM 70 SMOKE 22 m² SHAFT 64 70 S D PROPOSED THIRD FLOOR

Project number 01 RECYCLING STORAGE Date 25/02/2015

ROOM 68 ROOM 67 Drawn by A P 21 m² 20 m² ROOM 66 Checked by A.H & I.P ROOM 6969 68 67 6621 m² 65 24 m² ROOM 65 20 m² LB18 EXISTING TOILET TOWER TO BE REFURBISHED AND Scale 1 : 100 RETAINED FOR DECORATIVE PURPOSES ONLY

The Mill Chapel Lane, Galgate, Lancaster LA2 0PR

14 EXISTING PROPOSED CONVERSION TO STUDENT CHIMNEY TO BE ACOMMODATION & MUSEUM REUSED Proposed Fourth Floor layout N

UTILITY SHAFT EXISTING WATER TANK PIPE

EXISTING FIRE HOSE WATER PIPE DN

EXISTING LIFT DOOR TO BE REFURBISHED AND REINSTATED • All dimensions and levels to be FOR DECORATIVE PURPOSES ONLY ROOM82 82 Room83 83 ROOM84 84 85ROOM 85 ROOM86 86 NO PUBLIC OR STUDENT USE LIFT 20 m² 21 m² 21 m² 21 m² 19 m² checked on site.

PLANT ROOM FOR LIGHTING VENTILATION, HEATING AND DUCTING • Any discrepancies are to be reported to DN h SMOKE t the Architect before any work SHAFT or commences N • This drawing shall not be reproduced S Smoke detectors to be fitted S All corridor doors on all floors should be 30 min fire resisting and in all the corriodors on all be fitted with a compliant self closing device D without express written permission from floors at 12 metre intervals D S D ROOM 87 UK MILLS LTD 1987 m² GLAZED • This drawing shall not be scaled to LIFT ascertain and dimensions. work to 100 107 figured dimensions only. OBS GLAZING AND MANUAL BLIND ROOM 107 ROOM 100 SYSTEM ROOM 99 19 m² 19 m² 1999 m²

ROOM88 88 20 m² 0m 2m 4m 6m 8m 10m ATRIUM 41 m² ROOM101 101 ROOM106 106 19 m² 19 m² ORIGINAL STRUCTURE VISUAL SCALE 1:100 @ A2 OPEN TO VIEW ALL ROOMS TO HAVE ROOM 98 20 m² INDIVIDUAL AIR CONDITIONING, HEATING SYSTEM, WIFI AND BROADBAND 98

ROOM 102 ROOM 105 ROOM89 89 10219 m² 10519 m² 26 m² UK MILLS LTD

ROOM 97 9718 m² THE MILL, DN CHAPEL LANE, WINDOWS TO BE SEALED. A SECOND GLASS 104 GALGATE, INTERIOR PILKINGTON OPTIPHON HIGH 103 FLOOR QUALITY ACOUSTIC LAMINATED ROOM 103 ROOM 104 S GLASS BARRIER TO BE INSTALLED TO 20 m² D LANCASTER, OFFER NOISE REDUCTION. 20 m² SMOKE ROOM 90 SHAFT 2590 m² LA2 0PR ROOM 96 22 m² 96 S D S PROPOSED FOURTH D FLOOR RECYCLING 01 STORAGE Project number Date 25/02/2015 Drawn by A P ROOM 93 ROOM 95 95 ROOM104 94 9320 m² 92ROOM 92 ROOM91 91 24 m² 21 m² 21 m² 20 m² Checked by A.H & I.P LB19 EXISTING TOILET TOWER TO BE REFURBISHED AND RETAINED FOR DECORATIVE Scale 1 : 100 PURPOSES ONLY

15 Location

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.

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.

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.

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.

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

Lancaster University

Lancaster University - Cartmel College

Lancaster House Hotel

Lancaster university Sports Centre

The trough of Bowland Bar

The Mill Chapel Lane, Galgate, Lancaster LA2 0PR

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The Mill

17 Successful Track Record

We’re one of the North West’s top developers – particularly when it comes to student accommodation. In the last 7 years alone, we’ve developed over £20m in new build and renovated property, creating some of the region’s most sought-after student accommodation in the process.

Our founder began as a building surveyor for EC Harris, gaining invaluable experience at one of the leading property consultants in the UK – before moving into property letting and developments full-time. Starting with large Victorian conversions into multiple apartments and new build housing projects, he quickly realised the potential of the student market, completing successful redevelopments of a large Victoria block, church, and mill – bringing significant insight and experience to the present Lancaster development

As well as this practical background, further value and market acumen are offered by our lettings business. Founded in 2005, we’ve since become Liverpool’s largest private property business, opening 3 offices and managing over 3,500 units citywide.

Our unique blend of experience in developing, marketing, and letting properties makes us the perfect partner for your property investment. We offer you an end-to-end service, managing everything from the first brick laid to the moment your last tenant checks out.

The Mill Chapel Lane, Galgate, Lancaster LA2 0PR

18 19 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 over- subscribed 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

20 21 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 guaranteed returns? If so, how long for? A. Yes at 8% NET for the first five years after which you are free to negotiate or manage the unit yourself.

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 guaranteed rent.

Q. Can I manage my own unit? A. Yes. You can choose to self-manage immediately, although, this means forgoing the guaranteed rent option. Alternatively, we offer self-management as an option once the 5-year guarantee period has ended.

Q. Is the developer the sole director? A. Yes.

Q. Does the developer have a track record? A. We have a long and distinguished record of delivering 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 project managed by Innov8 and they take care of every aspect of the build.

Q. Do they have a track record? A. Their achievements can be seen on their website having been responsible for numerous multi million pound developments.

Q. Is the developer using any of their own funds for the build? A. Yes, initial funding for the work is being provided by ourselves.

The Mill Chapel Lane, Galgate, Lancaster LA2 0PR

22 Q. Will the developer own the freehold? Q. Is full planning permission granted? A. Yes, we will continue to own the freehold. However, we offer a leasehold A. Yes, Lancaster City Council has approved the development. of 125 years on each unit. Q. What is the name of the architect involved? Q. Do you offer guaranteed returns? If so, how long for? A. KPD Architects are based in Liverpool city centre. A. Yes at 8% NET for the first five years after which you are free to negotiate or manage the unit yourself. Q. What is the estimated completion date? A. September 2020 ready for that year’s student intake. 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 Q. What happens if the building company becomes insolvent during the build? guaranteed rent. A. We pay our builders in arrears on staged drawdowns, so your investment is 100% protected. Q. Can I manage my own unit? A. Yes. You can choose to self-manage immediately, although, this means forgoing Q. When will I receive my first returns? the guaranteed rent option. Alternatively, we offer self-management as an option A. We will pay all investors quarterly in arrears following the launch of the property. once the 5-year guarantee period has ended. Q. Will I receive my returns monthly, quarterly or annually? Q. Is the developer the sole director? A. All returns are paid quarterly. A. Yes. Q. What happens if the unit isn’t in demand? Q. Does the developer have a track record? A. Due to its location and features, The Mill is expected to be one of Lancaster’s We have a long and distinguished record of delivering substantial A. most coveted student properties. However, should anything go wrong, rents return on investment from its developments – particularly in new build and are assured. renovated student accommodation. Q. What documentation will I sign? Q. What is the name of the building company? A. Lease and underlease will be used. A. The development is project managed by Innov8 and they take care of every aspect of the build. Q. Can I resell my unit at any stage? Yes, the leasehold is yours to sell. Q. Do they have a track record? A.

A. Their achievements can be seen on their website having been Q. Will I get regular build updates? responsible for numerous multi million pound developments. A. Yes, we update our investors monthly. Q. Is the developer using any of their own funds for the build? A. Yes, initial funding for the work is being provided by ourselves.

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The Mill Chapel Lane Galgate Lancaster LA2 0PR

The information contained within this document is intended as a general guide. This information does not constitute an offer or a contract and we (or anyone in our company) do not imply, make or give any representation, guarantee or warranty whatsoever relating to the terms contained within. Any intending investor must satisfy themselves as to the correctness of any of the statements, plans or images contained within. Images are for representational purposes only. The content contained within is correct adhering to the previous statement at the time of publishing.