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For Sale£1,475,000.00

Parkside, Ridgehouse Drive, Festival Park, Stoke-on-Trent ST1 5SJ

Retail, Leisure, Business park, Offices , 7980 Sq Ft
Property type: Retail, Leisure, Business park, Offices
Tenure: Investment Opportunity
Size: 7980 Sq Ft
Price: £1,475,000.00
Location: Parkside, Ridge House Drive, Stoke-on-trent, ST1 5SJ
This single-storey brick building, currently used as a Health Assessment Centre and regional training centre by the Department of Work and Pensions, is situated on a generous plot of some 0.6 acre with 32 marked car parking spaces.

The property is located on Ridgehouse Drive in the centre of Festival Park, the largest retail park in Stoke-on-Trent, which offers not only retail but also an established business park and leisure facilities.

The asking price of £1,475,000 (+ VAT) represents a net yield of 6.5% (assuming purchaser’s costs of 5.8% and the half rent period being topped up by the Vendor). (See brochure for further details.)

The property is an attractive investment in its own right, but in our opinion the value is also underpinned by an alternative use/redevelopment (STP) in one of the town’s expanding retail parks.
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