Bridge Street, Macclesfield
- Potential Investment Opportunity
- Cash Buyers Preferred
- Central Location to Macclesfield Town Centre
- Potential Individual Room Let/HMO
- Change of Use Required from Commercial
- Mixed Use Area - Commerical and Residential Property
- Unique Period Property 2/3 bed (subject to change of use planning)
- Shop in Macclesfield Town Centre with Living Accommodation (subject to planning)
With the layout and space afforded in this unique period property and with foot access and doors from both sides of Old Meadow with a substantial renovation there is potential to create a unique, quirky and interesting period property with bags of character in a very central location for the town and train station and just a stone's throw from the recently redeveloped Picturedrome.
The possibility for a serviced accommodation or individual room let property (subject to appropriate permits and planning through the council) seems the most appropriate route to pursue in terms of a return yield on the purchase price and subsequent renovation. The building could also be utilised in different ways such as a shop front with living accommodation over - again subject to appropriate change of use and planning.
Potential yield example should the property be converted to provide three or four bedrooms the yields will vary. Three rooms at £450pcm would be £1350pcm monthly income. Based on the purchase price and an estimated £50k renovation making a £180,000 outlay this would be a yearly yield of 9%. Adding another room (possibly a single room) could bump the figure to £1600pcm would return a yield of over 10%. (Please note the above figures are purely speculative by way of example - renovation costs could be more or less depending on the work required. The figures also do not take into account running costs or if you wanted to factor in utilities to monthly rentals).
Old Meadow Street View
Foot access to each side of the property down Old Meadow.
Ground Floor Room One 31'5 x 15'1 maximum to 12'4
Ground Floor Room One -
Ground Floor Room Two 15'1 x 12' maximum
First Floor Room One 14'7 x 11'5 maximum
First Floor Room Two 14'7 x 7'1 narrowing to 6'2
First Floor Room Three 8'4 x 7'7 maximum into chimney alcove
WC 5'3 x 3'3