Allen Heritage says ..

Property Oracle says ..

This property in Hanley, Stoke-on-Trent presents itself as an investment/development opportunity. The current structure comprises a ground and basement retail space, along with a storage warehouse. Planning permission has already been granted to transform the upper floors into three residential units. This suggests a potentially lucrative venture, assuming the costs and feasibility of this conversion are carefully considered. The property’s location is a key selling point. Situated in Hanley, close to the Intu Potteries shopping centre, it benefits from local amenities and transportation options. Furthermore, the proximity to several schools could increase rental demand if the development focuses on family housing. However, the provided photos reveal an interior in need of considerable renovation. The existing structure is quite dated and would demand substantial refurbishment, increasing development costs. There is no information regarding any exterior space. The lack of garden space is a disadvantage should the property be converted into apartments. The listing price of £230,000 may reflect the potential of the project, accounting for both the required refurbishment and the favourable location. Ultimately, the property offers a potentially rewarding investment opportunity for developers or investors, but the level of refurbishment necessary and the inherent risks of such a venture must be carefully evaluated before proceeding.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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