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Residential Development Opportunity, 24-28 Piccadilly Street, Hanley, ST1 1EG

not specified / Other / Investment

For Sale - £79,950.00

Under Offer - Last updated: 08 January 2024

The property comprises an ornate and prominently located building of brick elevations comprises vacant upper floors and two self contained ground floor shops. The three upper floors are available separately and on a freehold basis and have detailed planning permission to create 4 x one-bedroom apartments and 1 x two-bedroom apartment with access off Brunswick Street. Planning was granted by Stoke on Trent City Council on the 20th March 2023 under Application number 67757/FUL. The site enjoys a prominent position on Piccadilly, a pedestrianised section of Hanley city centre within the Cultural Quarter where a plethora of independent bars, restaurants and shops are located. The building is a well known landmark in the city with its clocktower, which is incorporated into the scheme. The buyer will obtain the freehold of the building whilst the seller will retain the long leasehold interest in the two ground floor retail units.

Location

The building is located towards the top of Piccadilly and just a 2 minute walk from The Potteries Shopping Centre. Hanley can be accessed from the A500 via the A52 and A53 and is around 6 miles from junction 15 of the M6.

Accommodation

Planning granted for 4 x 1 bedroom & 1 x 2 bedroom self-contained flats on floors 1,2 and 3

Terms

The buyer will obtain the freehold of the building whilst the seller will retain the long leasehold interest in the two ground floor retail units.

Specification

SERVICES

Mains electricity, water and drainage are connected. Please note that no serviced have been tested by the agents.

 

VAT

The sale price is not subject to VAT.

 

INVESTMENT POTENTIAL

The site has consent to convert the vacant space into 4 x 1 bedroom flats of 33m2 and 1 x top floor 2 bedroom flat of 66m2. Estimated rented income for the 1 bedroom flats is £550pcm and £600pcm for the top floor. Overall yearly income potential of c£33,600.

 

ANTI MONEY LAUNDERING REGULATIONS

In accordance with the anti-money laundering regulations, two forms of identification will be required (e.g. photographic driving license, passport, utility bill) from the applicant and a credit check may also be required, the cost of which will be the responsibility of the applicant. Where appropriate we will also need to see proof of funds

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £79,950.00 NA

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Agency Team

Rory Mack Associates Ltd

01782 365492



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