Industrial development for sale
Property description & features
The site has a 50-meter frontage to Marsh Street South and a 44-meter frontage to Pall Mall and is centrally located in the City Centre within the very popular Cultural Quarter where a wide range of retail, leisure and office orientated businesses are located.
The recently establish Smithfield development () is within 200 yards, where over 210,000 sq ft of Grade A office space has already been built and occupied with another 214,000 sq ft in the pipeline. The Hilton Garden Inn hotel and an 11 storey 151 unit apartment block have also been constructed and a 730 space multistorey car park is currently under construction. Festival Park is within a 15-minute walk where a significant number of office businesses are located together with leisure outlets such as Waterworld, the Odeon Cinema and Stoke Ski Centre.
The site comprises and triangular shaped parcel of land extending to 0.34 acres, part of which is clear and part of which still has a number of buildings in place which will need to be demolished. The site now benefits form planning permission (Application 64145/HYB) to demolish the existing buildings and construct a seven-storey residential development offering 23 x two-bedroom units and 37 one-bedroom units, all of which are individually designed and well proportioned, together with 13 onsite car parking spaces.
The site represents a rare opportunity to construct what would become a landmark residential development in the city centre in what is now an established and vibrant location and forms part of the Cultural Quarter.
Using Ordinance Survey Promap we calculate the site to extend to 0.34 acres.
Located on the site are four buildings, requiring demolition which include:
19-21 Pall Mall: A vacant two storey former retail property
23 Pall Mall: An occupied three storey shop with tenant holding over since 2014.
25 Pall Mall: An occupied three storey restaurant with the tenant holding over since 2019.
27 Pall Mall: A vacant single storey former restaurant premises.
We understand that all mains services are available although interested parties will need to make their own enquiries of the relevant utility companies.
The site is available freehold, subject to contract and with vacant possession if required. For further details please contact the agents.
We are advised that 19-25 Pall Mall are not subject to VAT and that VAT will apply to the sale of 27 Pall Mall.
On the 1st of December 2020 Stoke on Trent City Council granted part full/part outline permission (Application no: 64145/HYB) to demolish the existing buildings and construct a seven-storey apartment block comprising 23 x 2-bedroom apartments and 37 x 1-bedroom apartments. Further details can be found at: using ‘ST1 1EB’ in the post code search box.
GROSS DEVELOPMENT VALUE
The apartments range in size from between 50 sq m to 81 sq m with all of the apartments having external recreational areas and a number will also benefit from onsite car parking. The agents estimate that on average the one-bedroom apartments should command a sale price of circa £125,000 with the two-bedroom apartments being in the region of £150,000 which would generate a GDV in the region of £8,000,000.
Property information from this agent
Places of interest
Rory Mack Associates - Holly House
Holly House | 37 Marsh Parade Newcastle Under Lyme Staffordshire ST5 1BT
See more properties like this:
Property reference 101560003759. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Rory Mack Associates - Holly House.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.