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Norton Properties invests in Stoke City Centre

Added > 04/01/2017

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