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Development Site, Middle Hillgate, Stockport, SK1 3AL - Image 1
Development Site, Middle Hillgate, Stockport, SK1 3AL - Image 2
Development Site, Middle Hillgate, Stockport, SK1 3AL - Image 3
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Development Site, Middle Hillgate, Stockport, SK1 3AL - Image 5
Development Site, Middle Hillgate, Stockport, SK1 3AL - Image 6
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Development Site, Middle Hillgate, Stockport, SK1 3AL - Image 8
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Development Site, Middle Hillgate, Stockport, SK1 3AL - Image 10
Development Site, Middle Hillgate, Stockport, SK1 3AL - Image 11

Development Site, Middle Hillgate, Stockport, SK1 3AL

North West

£325,000
Listed on 09/07/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a compelling opportunity for redevelopment, having received full planning consent for a mixed-use scheme that combines commercial and residential spaces. The proposed layout features a ground floor office measuring 61 square meters alongside a common area of 36.5 square meters. The first floor is planned to accommodate two residential units, offering a total of 97.3 square meters of living space and an additional 12.3 square meters for shared amenities. The second floor will house two further residential apartments totaling 100 square meters, with a common area of 5.3 square meters, while the attic level is designated for one more residential unit comprising 46 square meters. Included in the planning documentation are detailed reports and drawings such as elevation plans, construction phase layouts, and materials schedules, which provide a clear framework for proceeding with the development. This comprehensive set of documents can enhance the feasibility assessment and expedite the construction process. The property's location is another notable advantage; situated at the intersection of Lower Hillgate and Wesley Street, it benefits from proximity to Stockport Market Place, Merseyway shopping center, and both the bus interchange and railway station—each conveniently located within short walking distance. This prime location enhances its appeal for potential tenants or buyers seeking easy access to transport and local amenities. Currently classified with N/A for rateable value, prospective investors should verify details with Stockport Metropolitan Borough Council regarding applicable rates and regulations. The property operates under freehold tenure (Title Number: CH85837), which simplifies future management and investment potential. Given its current configuration and planning permissions, this site offers substantial renovation prospects that can maximize return on investment while contributing positively to the neighborhood's development landscape. With careful execution of the proposed plans, this property could become a key asset in a rapidly evolving area poised for growth.

Investment Analysis

(SK1 area)
Area Average
£265/sq ft
Avg Rent (weekly)
£232
Avg Yield
6.0%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£250,000 - £350,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
12
Average per month
Market Turnover
18%
Properties sold annually

Local Market Trend (SK1)

Area prices are rising by +8.2% over the last 12 months
3 year growth: 9.8%
5 year growth: 33.1%
Investment Disclaimer: Analysis based on SK1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Development Site, Middle Hillgate, Stockport, SK1 3AL
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,191
Based on a loan of £243,750 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE