26 bed flat for sale

Campbell Place, 24 Campbell Place ST4

Majestic Chambers, Stoke Town Centre
Leasehold block of 26 fully furnished apartments | £175,200 per annum gross when fully let

Majestic Chambers is a rare chance to buy a whole block of 26 self contained apartments in one go, right in the heart of Stoke town. It's a striking period building with a classic white façade. The apartments sit over the first and second floors, above the busy commercial and retail units on the high street.

We've let and managed these apartments ourselves, so we know them well. They're a big hit with young professionals and couples, who love the central location, the bright rooms and the fact they can move straight in.

The figures

18 studio apartments at £540 pcm (£9,720 pcm)
8 one bedroom apartments at £610 (1x £615) pcm (£4,885 pcm)
Total rent when fully let: £14,605 pcm, or £175,260 per annum gross
Current occupancy: 25 of 26 let
Tenure: Leasehold, 984 years remaining
Service charge: £4385.91 per annum

Landlord’s current insurance £3751 per annum
Guide price: £1,800,000, which reflects a gross yield of 9.74%

Other expenses apply - communal electrical energy, iMist Fire Suppression annual service, management fees, mortgages etc

The apartments

Each floor has 13 apartments set around a central staircase and lobby. Every one is self contained with its own front door, private bathroom with shower and fully fitted kitchen with a full size oven, hob and fridge. The studios are cleverly laid, so the bedroom feels separate from the kitchen and living space. The one bedroom apartments give you a proper separate bedroom along with a living and dining area.

The large original windows fill the rooms with natural light. Everything has been finished to a high standard with modern furniture, neutral décor, contemporary lighting and quality carpets and flooring. There are laundry facilities on site too.

Bills

Broadband is included within the rent. Tenants pay their own council tax, electricity, water and TV licence. There's no gas in the building, so there are no gas safety certificates to renew each year.

The location

Supermarkets, high street names, independent shops, bars and restaurants are all on the doorstep. Stoke railway station is within easy walking distance, with fast and frequent trains to London, Manchester and Birmingham. Good bus links reach Hanley City Centre, Newcastle-Under-Lyme, Keele University and the University of Staffordshire and the Royal Stoke University Hospital, one of the biggest employers in the region along with Bet365 headquarters being not far away. That brings a steady stream of tenants looking for affordable, good quality homes close to work.

Why it works for investors

A strong income from day one, with 26 rents coming in from one building

Fully furnished and finished to a good standard, so it's ready to go

Rents that keep tenants staying put and void periods low

A central location with demand from professionals, couples and hospital staff

Electric only, which keeps compliance simpler

Ongoing lettings and management available from our local team, who already know the building inside out and demographic

Interested?

Get in touch with us at Indigo Sales and Lettings for the full investment pack, tenancy schedule and to book a viewing. We'll give you an honest view of the numbers and answer any questions you have. No pressure and no sales patter.

EPC Rating: D

Disclaimer

Property Listing Disclaimer
These particulars are provided for general guidance only and do not form part of any offer or contract. While we aim for accuracy, details should not be relied upon as statements of fact.
All measurements, areas, plans and distances are approximate. Photographs are illustrative and may not reflect the current condition. We have not tested any services, systems, appliances, fixtures or fittings and cannot guarantee their operation.
Buyers and tenants should carry out their own checks and seek advice from their solicitor or surveyor. Fixtures and fittings are subject to agreement with the seller or landlord.

Buyers: Id and Anti-Money Laundering checks will be required, and a fee may apply.
Tenants: A deposit and advance rent are required. Tenants are responsible for utilities and council tax unless stated otherwise.

Information provided by third parties has not been independently verified. Please contact us for clarification before arranging a viewing.