8 Bed Detached House For Sale Cranberry Lane, Stoke-on-Trent, ST7
£695,000- Detached
1 of 14
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Last Updated: 18th June 2024
Description
IDEAL INVESTMENT OPPORTUNITY, FURTHER POTENTIAL & FREEHOLD TENURE INCLUDED - A rare opportunity has arisen within Alsager to acquire a purpose built block of 8 apartments situated within a popular residential area, all currently let and producing an income of £39,000 per annum. All of the apartments are currently let with assured shorthold tenancies in place and up-to-date market rents.
The 8 apartments themselves all have an open-plan layout with kitchen area incorporating an oven, hob and extractor, separate shower rooms with tiled wall and flooring, electric heating throughout and double glazing. Two of the ground floor studio apartments also benefit from a conservatory with French doors and pleasant outside patio area. Please see below a list of the apartments and their subsequent market rents:-
83a let at £425.00 pcm
83b let at £400.00 pcm
83c let at £450.00 pcm (new tenancy 30th April 2024)
83d let at £425.00 pcm
83e let at £425.00 pcm
83f let at £400.00 pcm
83g let at £400.00 pcm
83h let at £400.00 pcm
Based on the current asking price of £695,000 the development is current achieving a yield of 5.6%. The average EPC for each flat is either a D or E rating, depending on the date of when the EPC was carried out.
Externally, there is a large car park with ample space for both residents and visitors, in addition to communal gardens. There is further potential to develop the grounds of the site (subject to planning permission) with a variety of options available, we would strongly advise any prospective purchaser to obtain professional advice to appreciate the full potential to the grounds on offer.
For more information and to arrange your site visit, please contact the team here at Stephenson Browne on .
Please note the council tax band for each apartment is A.
Nb: Tenure - We have been advised that the property tenure is freehold, we would advise any potential purchasers to confirm this with a conveyancer prior to exchange of contracts.
Council Tax Band - The council tax band for each apartment is A.
Nb: Copyright - The copyright of all details, photographs and floorplans remain the possession of Stephenson Browne.
The 8 apartments themselves all have an open-plan layout with kitchen area incorporating an oven, hob and extractor, separate shower rooms with tiled wall and flooring, electric heating throughout and double glazing. Two of the ground floor studio apartments also benefit from a conservatory with French doors and pleasant outside patio area. Please see below a list of the apartments and their subsequent market rents:-
83a let at £425.00 pcm
83b let at £400.00 pcm
83c let at £450.00 pcm (new tenancy 30th April 2024)
83d let at £425.00 pcm
83e let at £425.00 pcm
83f let at £400.00 pcm
83g let at £400.00 pcm
83h let at £400.00 pcm
Based on the current asking price of £695,000 the development is current achieving a yield of 5.6%. The average EPC for each flat is either a D or E rating, depending on the date of when the EPC was carried out.
Externally, there is a large car park with ample space for both residents and visitors, in addition to communal gardens. There is further potential to develop the grounds of the site (subject to planning permission) with a variety of options available, we would strongly advise any prospective purchaser to obtain professional advice to appreciate the full potential to the grounds on offer.
For more information and to arrange your site visit, please contact the team here at Stephenson Browne on .
Please note the council tax band for each apartment is A.
Nb: Tenure - We have been advised that the property tenure is freehold, we would advise any potential purchasers to confirm this with a conveyancer prior to exchange of contracts.
Council Tax Band - The council tax band for each apartment is A.
Nb: Copyright - The copyright of all details, photographs and floorplans remain the possession of Stephenson Browne.
Agent Details
Stephenson Browne Ltd
15, Crewe Road, Stoke-on-trent, ST7 2EW
Show Contact Number
01270 883 130
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Legal - YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.
Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.
Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.