. Residential investment opportunity

. 33 studio rooms with en-suite facilities and kitchenettes

. Car park with 18 spaces including one EV charging point

. Communal space, laundry rooms and security office

. EPC: All studios are a Band C

General Description - A unique opportunity to obtain a turn-key, ready made
investment with an excellent long term tenant already
in place. This former industrial building has been
extensively refurbished and reconfigured to create a
comprehensive building providing living
accommodation. The property briefly comprises 33 x
en-suite studios with kitchenettes, 4 communal kitchens
(two on each floor), 3 x laundry rooms, 2 x communal
lounges, 2 x offices, bike store and large car park for 18
vehicles. On the ground floor is a plant room containing a
sophisticated heating and hot water system.

Tenancy Details - The whole property is let to 'Above n Beyond Ltd' Reg No
07945787 who offer support
and housing to young people.
The lease is composed on Full Repairing and Insuring terms
and commenced August 2023 for a term of 5 years at a
passing rent of £165,000 pa. All costs including staffing,
security and utilities etc. are covered by the tenant

Location - The property is located on Adelaide Street, just off Waterloo
Road and is a 5 minute walk from the centre of Burslem. The
building is around 8 miles from junction 16 of the M6
motorway and around 1.5 miles from the centre of Hanley.

Accommodations - Adelaide House has a gross internal area of 12,365 sq ft
spread over two floors as follows.

Ground floor
13 x en-suite studio rooms
2 x communal kitchens
2 x laundry rooms
1 communal lounge
1 x staff office
1 x security office
1 x staff WC
Plant room

First floor
20 x en-suite studio rooms
2 communal kitchens
1 x communal lounge
2 x laundry rooms

Services - Mains gas, electric, water and drainage are connected. Gas
fired central heating installed throughout. No services have
been tested by the agents.

Vat - The sale price is not subject to VAT.

Planning - Planning permission was granted on 10th March 2022 by
Stoke on Trent City Council (Application Number:
66924/FUL) for change of use to large HMO (33 bed/person)
(sui generis)

Council Tax - Paid at the prevailing rate by the leaseholder.

Tenure - Available freehold, subject to contract and with occupied
possession upon completion.

Anti-Money Laundering Regulations - In accordance with the anti-money laundering regulations,
two forms of identification will be required (e.g.
photographic driving license, passport, utility bill) from the
applicant and a credit check may also be required, the cost
of which will be the responsibility of the applicant. Where
appropriate we will also need to see proof of funds.