A former bank premises located in Stoke town centre which has already been stripped back and is now offered in ‘shell’ form with the benefit of planning permission to be converted into a 14 ensuite bedroom House of Multiple Occupation. The property is of rendered brick elevations with pitched roof surfaces and is arranged over two floors with much of the ground and first floor areas being presented in open plan, ready to be converted. There is also a substantial dry basement, an inspection of which reveals the extent of refurbishment work that the former bank undertook to include the replacement of the original ground floor suspended timber floors with reinforced concrete floors.
Location
The property is located in Stoke’s town centre in a mixed use area of mainly commercial properties together with an element of residential and is within easy walking distance of Staffordshire University, many students of which choose to live in Stoke town centre due to its close proximately, retail and leisure amenities and Stoke railway station. The property is also within 150 yards of two large public car parks.
Accommodation
Ground Floor: 1,797 sq. ft. GIA
To be arranged as 7 x bedrooms, communal lounge and separate kitchen/diner.
First Floor: 1,735 sq. ft.
GIA To be arranged as 7 x ensuite bedrooms and kitchen/dinner.
Terms
PLANNING PERMISSION - The property has the benefit of planning permission (Application no: 60114/FUL) granted 4th January 2017 (now implemented) by Stoke on Trent City Council, details of which can be downloaded from their web site: www.planning.stoke.gov.uk
VAT - The sale price is not subject to VAT.
EPC - Band E – Asset Rating 115, although the property will need to be reassessed after conversion.
SERVICES - We are advised that all mains services are connected to the property. Interested parties are required to satisfy themselves that the necessary services are connected.
BUSINESS RATES:
Rateable Value: £12,000
Rates Payable: £5,988 (20/21)
*Please note, if you qualify for Small Business Rates Relief, you will be entitled to a 100% exemption*
TENURE - Freehold subject to Contract.
PRICE - £225,000
Specification
- Town centre property extending to 3,530 sq. ft.
- Planning Permission granted to convert into 14-bedroom HMO
- Close to Staffordshire University in area with high student and key worker accommodation demand
- Substantially stripped back and offered in ‘shell’ form
- Estimated gross income (based on 48-week period) circa £60,000 pa