Block of Apartments
The property has planning permission for conversion to 20 x 2 bedroomed apartments, with the current owners having extensive costings for the completion of the development. For full details please see Stafford Council website with Planning Reference 15/22060/FUL.
The property has 9,168 sq. ft. of living space potential offering mainly open plan space arranged over four floors and retains many original features. The current owners have already carried out an extensive schedule of initial works to clear the site and the building in readiness for the next phase to start.
We understand the total value of the site once converted would be £233 per sq. ft., which values the site in excess of £2.1 million. It would also make a great build to rent investment which would generate a rental income around £142,000 per annum.
Any interested parties are to satisfy themselves as to the Gross Development Value of the site. Figures provided are for indicative purposes only and have been provided by our client
The planning permission was granted with a clause tying the site to purchase or rent the car park from the council. Interested parties are advised to refer to the legal pack for further information or direct any enquiries to the Local Authority.
The property is extremely well located, close to a great range of local shops, supermarkets, parks, schooling and has good access to the motorway network and is walking distance to the City centre.
Freehold. Vacant possession upon completion.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
