Property Details

Elder Road, Stoke-On-Trent£475,000

On MarketKeates - 01782 84708300005254

Mixed Use investment Property
Potential Rental Income £49,800 pa
Consisting of six flats and a retail unit
Ground Floor empty and may suit owner occupier
CEPC'S Band C Ratings 73 & 67
Ask an adviser to book your viewing

A mixed use commercial investment property consisting of six flats and a retail unit. This mixed use property has been modernised in recent years and benefits from car parking for seven vehicles, double glazing and electric heating throughout. The retail premises are currently empty and could be split. All the flats are occupied with a current rental role of £2525 per calendar month with scope to improve to circa £2900. The retail unit would lease for £15,000 per annum. Therefore, a potential rental income of £49,800 per annum.

Area ( Commercial Premises)
Circle 135 m². Approximately 1455 ft.².
Location
The property is located off the A53 and opposite Cobridge Community Health Centre. Nearby occupiers include Freshways Supermarket, Honda & Mercedes with the property being close to Festival Park.
Retail Unit1Approx 41 m²/439 ft.²
Open plan retail space. With electric heating, Power Point, double glazing. Kitchenette: with white wall and base units marble effect surfaces over. Tile effect floor. Power point WC: fitted suite in white with basin and WC, tiled floor
Retail Unit 2Approx 94.5 m² circa 1016 ft.²
Retail/office: with carpet floor, PowerPoint, electric heater heaters. Kitchenette: with white wall and base units marble effect surfaces over. Tile effect floor. Power Point WC: fitted suite in white with basin and WC, tiled floor
Planning
Formerly a pharmacy classed as Shop & Premises. All prospective purchasers should make appropriate enquiries with a local authority for usage.
Upper floors
Above the Former pharmacy are six flats. These are accessed from the car park. All the flats are currently rented, electrically heated and double glazed throughout. The property was modernised circa 2017.
Flats
Flat 1: One bedroom self-contained flat currently rented for £415 per calendar month. Flat 2: A one bedroom studio flat currently rented for £425 per calendar month. Flat 3: A one bedroom self-contained flat currently rented for £420 per calendar month. Flat 4: A one bedroom studio flat currently rented for £415 per calendar month. Flat 5: A one bedroom studio flat currently rented for £425 per calendar month. Flat 6: A one bedroom self-contained flat currently rented for £425 per calendar month. All flats are let on AST's.
EPCs for the flats
Flat 1: Band C Rating 70 Flat 2: Band D Rating 66 Flat 3: Band D Rating 63 Flat 4: Band D Rating 65 Flat 5: Band D Rating 65 Flat 6: Band C Rating 69
Outside
To the side of the property is a tarmac car park suitable for parking seven cars leading to a side access for the flats.

Website Design and Estate Agency Software By Expert Agent