London Road, Chesterton, Staffordshire ST5 7DY
Kingsland Estates are delighted to offer to the market this fantastic investment oppurtunity currently comprising of of two large shops to the ground floor and a number of living areas to the upper floors. The property has a huge potential to be converted into a 10 bedroom HMO with some configuration (subject to planning). The property bares a huge 3,800Sqft footprint spread over two floors. The building has a huge scope of options for conversion including turning the whole property into a number of flats or keep the ground floor as shops with flats above. The current owner had previously let out the property as a whole for £430 for the week generating an income of 1900 pcm - he know that this rent was below the potential rent he could have charges but as an elderly person he was retired and wanted a simple life. So the property has huge potential to achieve a much higher rental return and an even greater resale value if it is reconfigured If reconfigured to 10 bed HMO- rent would be approx £80- per week- £3200 pcm rent for the two shops would be- £13.33 per sqft- the two shops could generate potentially £18000- £20,000 rent per annum- £1600 pcm total monthly return will be- £5500 approx- yield will be 30%