Norton Properties has acquired 8-10 Percy Street in Stoke City Centre from a client of Louis Taylor Surveyors.  The Property comprises vacant office upper floors with the ground and basement let to Coral the bookmakers.  The property was acquired at a net initial yield of 8.76%.

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The upper floors have been vacant for some time and as a consequence there is an opportunity to convert the upper floors to residential.  Norton’s business plan is to obtain planning permission convert the upper floors to flats being a mix of 1-bed and 2-bed units.  These will be marketed at young professionals who want to live and work in the city centre.

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Norton has appointed SDM to carry out the works which will be completed within four months of start on site.