Summary
A rare opportunity to obtain a readymade property portfolio of three former terraced houses in a selfcontained block. All properties are of brick elevation with slate tile roof coverings originating from the Victorian era. The portfolio consists of two 1 bedroom flats at 49 Hulton Street, a 2 bedroom terraced house at 51 Hulton Street and two 1 bedroom flats at 53 Hulton Street. The flats at 49 Hulton Street have been redecorated and left empty giving the new owner the opportunity to rent at a higher level than previously and thus increasing the yield on the investment. 51 Hulton Street is rented at £5,980pa to a longstanding tenant of 12 years but could, in time, be converted into another two flats to increase the income. 53 Hulton Street is a double fronted former terraced house with an extension on the ground floor creating a larger than usual 1 bedroom flat with separate entrance at the rear. All of the properties being sold benefit from UPVC double glazed windows, UPVC front doors and gas central heating.
Key Points
Three income producing properties being sold as investment opportunityLast income at £26,380 providing close to 10% gross return4 x 1 bedroom flats and 1 x 2 bedroom mid terraced houseTotal NIA: 2,308 sq ftOpportunity to increase rent to provide a 12% gross return
Viewings
Access to the two empty flats is available upon request.
Services
All main services are connected. No services have been tested by the agents. All of the flats have recently had new combi boilers installed.
Tenancy Details
Number 49 ground and first are empty but were last rented at £450pcm and £400pcm respectively.
Number 51 is rented on an AST at £498pcm.
Number 53 ground is rented at £450pcm.
53 first is rented at £400pcm, both on AST’s.
VAT
The sale price is not subject to VAT.
Tenure
Available freehold of all three titles, subject to contract and with the benefit of the existing AST agreements.
Council Tax
The residential tenants are responsible for payment of any council tax where applicable. All five properties are classed as Band A. Stoke on Trent City Council Band A - £1,319.06pa (24/25). Note: A single occupier may benefit from a 25% discount.
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.
Location
49-53 Hulton Street is located adjacent to Town Road which leads into Hanley city centre at the west and out of the city and past Central Forest Park a short walk to the north. The property is around a third of a mile from the middle of Hanley and on a number of bus routes around Stoke on Trent including access to the main hospital and universities.