Block of Apartments for sale on

The Strand

Longton, Stoke-on-Trent, ST3

Tenure: Freehold

**INVESTMENT OPPORTUNITY** **Freehold** Multi-let mixed-use investment of one commercial premises and 8 flats, all rented out. Assuming purchaser’s costs at 4.83%, a purchase at this level reflects a net initial yield of 8.24% and an overall rate of £1,642/sq. m (£153/sq. ft). All flats rented out by Belvoir Stoke, with all compliance certs and rent schedules up to date and available for perusal.

Tenure: Freehold. Council Tax Band: A (Stoke on Trent City Council) for each flat. 

Location

Stoke on Trent is a major commercial and industrial city and unitary authority in North Staffordshire, approximately 29 miles to the south of Manchester and 40 miles to the north of Birmingham. At the 2021 census, Stoke on Trent had population of approximately 260,000. The property itself is located in Longton, one of the six towns that make up the City of Stoke of Trent. Longton is situated in the southeast of the City and is a popular residential area with a thriving town centre having a wide range of independent traders and household names, bus station, train station and easy access to the major road network.

Description

The property comprises a multi-let mixed-use investment consisting of 1x commercial unit trading as an independent public house (249 sq. m (2,680 sq. ft)) and 8x flats ranging from 31 sq. m (334 sq. ft) to 42 sq. m (452 sq. ft). The building itself of early 20th century origin and was refurbished to provide the existing accommodation in 2005/2006. The public house occupies the majority of the ground floor and basement. It has a modern interior with bar and seating area to the front & right-hand side, office, stores, male and female toilets and a conservatory at the rear together with a private external seating area.

The flats are accessed from the left-hand side of the building via a communal entrance. Inside the communal areas and flats are finished to a modern standard. Each flat has an entrance lobby, living room, kitchen, bedroom and ensuite.

Photos

Some photos of Flats 1, 2, 4 and 7 are attached to give an idea of the standard of interiors. Please bear in mind during viewings they will be furnished with the tenants' belongings.

Floorplans

Where the flats have been marketed in recent years, the floorplans are attached.

Tenants

1. Commercial Unit - Individual - EPC rating C - EPC sqm 249 - Lease start date 01 July 2023 for 5 years to 01 July 2026 at rent £30,000

2. Flat 1 - Individual - EPC rating D - EPC sqm 34 - Tenancy start date 27 June 2022 for rent £455pcm totalling annual rent £5,460 - deposit taken £490

3. Flat 2 - Individual - EPC rating D - EPC sqm 33 - Tenancy start date 07 June 2024 for rent £550pcm - annual rent £6,600 - deposit taken £730

4. Flat 3 - Individual - EPC rating C - EPC sqm 38 - Tenancy start date 04 November 2022 for £450pcm - annual rent £5,400

5. Flat 4 -  Individual - EPC rating D - EPC sqm 42 - Tenancy start date 23 June 2023 for £475pcm - annual rent £5,700 - deposit taken £545

6. Flat 5 - Individual - EPC rating D - EPC sqm 33 - Tenancy start date - 01 March 2023 for £465pcm - annual rent £5,580 - deposit taken £515

7. Flat 6 - Individual - EPC rating C - EPC sqm 43 - Tenancy start date 16 October 2023 for £475 pcm - annual rent £5,700

8. Flat 7 - Individual - EPC rating C - EPC sqm 31 - Tenancy start date 17 September 2024 for £550pcm - annual rent £6,600 - deposit taken £1,120

9. Flat 8 -  Individual - EPC rating C - EPC sqm 42 - Tenancy start date 08 May 2024 for £525 pcm - annual rent £6,300 - deposit taken £605

Total annual rent: £77,340

Energy Performance

1. Commercial - 249sqm Ground Floor - EPC rating C - expiry date 31/1/2032

2. Flat 1 - 34sqm Mid Floor - EPC rating D - expiry date 04/10/2027

3. Flat 2 - 33sqm Mid Floor - EPC rating D - expiry date 04/10/2027

4. Flat 3 - 38sqm Mid Floor - EPC rating C - expiry date 28/3/2029

5. Flat 4 - 42sqm Mid Floor - EPC rating D - expiry date 04/10/2027

6. Flat 5 - 33sqm Top Floor - EPC rating D - expiry date 06/06/2027

7. Flat 6 - 43sqm Top Floor - EPC rating C - expiry date 05/03/2032

8. Flat 7 - 31sqm Top Floor - EPC rating C - expiry date 06/04/2027

9. Flat 8 - 42sqm Top Floor - EPC rating C - expiry date 06/06/2027

Services

All mains’ utilities services are understood to be available.

Planning

The existing use of the property is authorised pursuant to Stoke on Trent planning decision 43073/FUL.

Tenure: Freehold - Title Number: SF75384

Price

We are instructed to invite offers in the order of £895,000. Assuming purchaser’s costs at 4.83%, a purchase at this level reflects a net initial yield of 8.24% and an overall rate of £1,642/sq. m (£153/sq. ft).

VAT Not applicable

Costs Each party is to be responsible for their own legal costs.

Anti Money Laundering In accordance with Anti-Money Laundering Regulations identification and confirmation of the source of funding will be required from the successful purchaser.

Broadband and Mobile Checker - due to 9 dwellings being listed here, please ask us if you wish to have information on mobile and broadband availability in the individual dwellings. Alternatively, please consult Ofcom's broadband  and mobile checker online.

Disclaimer - We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only and are not precise. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller by separate negotiation.

Belvoir and our partners provide a range of services to buyers, although you are free to use an alternative provider. For more information simply speak to someone in our branch today. We can refer you on to The Mortgage Advice Bureau for help with finance. We may receive a fee of up to 20% (inc VAT) of the mortgage commissions earned by the Mortgage Advice Bureau, if you take out a mortgage through them. If you require a solicitor to handle your purchase we can refer you on to Goddard Dunbar, McQuades, Movebutler and their panel of solicitors, Charltons solicitors or Knights solicitors. We may receive a fee of up to £180 (inc VAT), if you use their services. If you require a removals firm, we can refer you to Move My Stuff. We may receive a fee of up to 10% of the invoice value, if you use their services. 

EPC rating: C. Council tax band: A, Tenure: Freehold,