Sold after auction for an undisclosed amount

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Freehold: 3 storey commercial/residential investment of approximately 10,461 sq/ft on a site of 0.21 acres comprising a parade of 5 shops with planning granted to convert the upper floors to 9 flats. Additional car park to rear approximately 2852 sq,ft. Vacant.

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Description/Location

Situated in the town centre of Burslem, a freehold parade of 5 vacant shops with 2 floors of ancillary accommodation above with planning permission for conversion to flats. Planning granted by Stoke-on-Trent Council on 26/10/2018 Ref. 62462/FUL) for change of use to the first floor comprising 1 x 1 bedroom flat, 3 x studio flats and 1 x 5 bedroom unit for multiple occupation. Change of use was also granted to the second floor for 2 x 1 bedroom flats, 1 x studio flat and a 5 bedroom unit for multiple occupation. We believe there is potential for an uplift in planning and the current owner has an amended application pending for a total of 12 flats on the first and second floors comprising 8 x studio flats and 4 x 1 bedroom flats.

VAT is applicable to this lot

Tenure

Freehold

Local Authority

Stoke on Trent City Council

Viewing

Please contact Elliott Network Auctions on 020 7871 0420

Rent

Estimated Rental Value £86,700

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*Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.