Club Street Studios, Stoke-On-Trent
Full Planning Approved for 52-Bed
The site is currently being used as a car park to serve the needs of the inner city. However, with its strategic location and close proximity to both Staffordshire University (15,200 students) and the Stoke University Hospital, it is a prime site for development to provide student accommodation.
Oasis Property Developments is in exclusive discussions with the site owner for a scheme to develop 30 Student Studio rooms on the site and has an agreement to acquire the site with the benefit of outline planning permission.
An alternative option to the 30 Student Studios is to develop 15 residential apartments, however due to its close proximity to the University and ample parking nearby (there is a large public car park behind the site), the Student Studios present a higher return on the investment.
Indicative layouts have been approved for outline planning, new layout is to be considered for detailed planning.
A major benefit of buying the site without detailed planning is that it allows the investor to value-engineer the development to keep costs to a set budget and therefore maximise the return of the site, whether for resale after construction or for long term high-yielding income.