Opportunity to purchase a 33-unit block in Stoke-on-Trent generating £168,000 rent pa & net yield of 8.8%
£1,900,000
33-unit Block
VES-ST6-001
INITIAL INVESTMENT
£566,500
Based on
deposit: £475,000
stamp duty: £57,000
mortgage fees: £1,500
conveyancing fees: £33,000
GROSS RENT
£168,000
GROSS YIELD
8.8%
The block
TENURE
Freehold
NO OF UNITS
33
TENANCY STATUS
Tenanted
FURNISHED
Yes
TOTAL SQ FT
12,000
PRICE SQ FT
£158
Block information
- Brand-new development expected to complete in June
- Spread over two floors (ground to first floor)
- The block comprises:
- 33 x studio apartments
- All apartments come with ensuite shower rooms and kitchenettes
- 4 x communal kitchens
- 2 x laundry rooms
- 2 x communal lounges
- 18 x car parking spaces
- Bike storage
- EPC rating: tbc
- Council tax band: tbc
Rental information
- The block will be fully let on an FRI lease from July, generating:
- Aggregate monthly rental income: £14,000
- Aggregate annual rental income: £168,000
- The displayed gross rent and gross yield are reflecting the net amounts; we are unable to display net figures at present
Available upon request
- Block breakdown
- Full floorplans
Location information
- The property is located in Burslem, Stoke-on-Trent
- Local amenities can easily be reached on foot
- Burslem centre is a 6-minute walk from the property
- There is a bus stop near the property with regular services
- Stoke-on-Trent is around 4 miles away by car
Note
Please note that Vesta has not visited this property and that the vendor has provided all material.
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Floorplans
Documents available on request, please contact for viewings or further questions.
The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.
Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.
About Stoke-on-Trent, West Midlands
Stoke-on-Trent is a city in the county of Staffordshire in the West midlands of England. The city is situated 15.1 miles south east of Crewe, 20.3 miles south of Macclesfield and 33.5 miles west of Derby.
This area is serviced by Stoke-on-Trent railway station which is a mainline railway station on the West coast main Line and is managed by Virgin Trains. Virgin Trains offers fast train routes to London Euston and another service to Milton Keynes Central both of which are non-stop. Northern operates two services along the Stoke-Manchester Line, of which Stoke acts as the terminus station. East Midland Trains operate services along the Crewe to Derby Line.
The main shopping centre in this city is the Potteries Shopping Centre, which houses around 90 stores and restaurants. Major popular high street brands such as Next, New Look, Gap, HMV all have shops here.
The city has an array of cultural attractions in the area known as The Cultural Quarter, here one can find The Potteries Museum & Art Gallery, the Regent Theatre and the Victoria Hall. Smaller venues such as the Dazed Gallery and AirSpace provide the city’s only contemporary art gallery spaces.
Stoke-on-Trent city council is the biggest employer in the city, followed by the Royal Stoke University Hospital which employs over 7,00 members of staff alone. There are several large employers in town and around 9,000 firms, including bet365, a large Vodafone call centre. Other large employers such as the Michelin tyre company which has a complex in the city including its commercial office, training centre and a truck tyre re-treading facility. The Co-Operative Pharmacy and Sainsbury’s supermarket both have large warehouses in the city.
Adelaide Street,
Stoke-on-Trent,
Stoke-on-Trent,
England,
ST6 2BD
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