Commercial Estate Agents Staffordshire Surveyors Stoke

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DEVELOPMENT

FOR SALE
GUIDE PRICE REDUCED TO £225,000

Commercial Estate Agents

...we tick all the right boxes



Excellent Development Opportunity 
Smallthorne, Stoke on Trent, Staffordshire, ST6 1NF
Contact Us | T 01782 715725

EXCELLENT DEVELOPMENT OPPORTUNITY
WITH NET DEVELOPMENT PROFIT IN THE REGION OF £300,000
8 X APARTMENTS PLUS DEVELOP A PAIR OF SEMI DETACHED HOUSES

 

Excellent development opportunity with net development profit in the region of £300,000. Existing substantial premises with detailed consent to convert into eight apartments plus develop a pair of new build semi detached houses on the rear car park.


 

 

GENERAL DESCRIPTION
“The Ford” is a substantial two storey detached Victorian property formerly used as a public house. The property has brick elevations supporting a pitch roof surface (recently replaced) and now benefits from detailed planning permission to be converted into 8 x one bedroom apartments. Additionally the rear car park has permission to construct a pair of three storey semi detached houses with rear gardens.
   
LOCATION
As referred on the attached plans, the property has frontage to Ford Green Road and return frontage to Chetwynd Street and is generally located in a residential area with a range of local retailers being located within walking distance.
 
PLANNING
The site benefits from planning permission SOT/48545 and can be viewed on line at the following location:-
www.gisinterest.stoke.gov.uk/evoplanning/planning_app.asp?pnum=‘48545’
 
SITE AREA
Referring to Ordnance Survey Promap we calculate the site area to be 0.17 acres.
 
SERVICES
We understand that mains water, drainage, gas and electricity is on site. No services have been tested by the Agents.
 
VAT
We are advised that the sale price will not be subject to VAT.
 
FURTHER INFORMATION
Scaled drawings, a Bat and Bird Survey and a Ground investigation Report can be made available upon request.
 
PROFIT POTENTIAL
This development opportunity offers an excellent profit margin. Costings have been undertaken and show a cost of converting the existing building into 8 apartments at circa £150,000 and a cost of developing the two semi detached houses at circa £100,000. The agents estimate that each apartment has a value of £80,000 and each house a value of £115,000 thus the development generates a Gross Development Value of circa £870,000. The above figures generate a gross profit of circa £620,000 which leaves a net profit of £295,000 (34% of GDV).
 
TENURE
Available freehold, subject to Contract and with vacant possession upon completion.
 
VIEWING
Strictly by appointment through agents:
Rory Mack Associates
Tel: 01782 715725
Fax: 01782 715726
Email: enquiries@rorymack.co.uk
Website: www.rorymack.co.uk
 
C1024/200409
 

 

 

 

 

All prices and rentals quoted are exclusive of VAT (if applicable) Misrepresentation Act 1967

Rory Mack Associates for itself and for the vendors or lessors of this property whose agents it is given notice that: (I) the particulars set out as a general outline only for the guidance of intending purchasers or lessees and do not constitute part of an offer or contract. (II) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct but their accuracy is not guaranteed and any intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. (III) no person in the employment of Rory Mack Associates has any authority to make or give any representation or warranty in relation to this property.



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