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Hanley shops could be yours for £1.3m after regeneration plans collapse

Plans to turn the upper floors of the Parliament Row units into flats were approved last year. An eyesore block of shops in the city centre has been put up for sale for £1.3 million. The row of units on Parliament Row, Hanley, which has previously seen a multi-million pound regeneration scheme fall through, is being marketed as a 'fantastic development opportunity'.
Stoke Hanley Shops For Sale
Hanley shops could be yours for £1.3m after regeneration plans collapse

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Plans were approved last year.

Plans to turn the upper floors of the buildings into 18 one and two bedroom flats were approved last year.

Previous proposals to bulldoze the site to make way for new retail units were eventually abandoned after developer Realis Estates decided they were ‘no longer viable’.

Stoke Hanley Shops For Sale

10 vacant commercial units with ‘an impressive rental yield’

The latest planning permission, secured by the site’s current owner Hanley Developments Ltd, includes the replacement of the existing shopfronts and window frames in addition to the flat conversions.

According to the advert for the site, there are currently 10 vacant commercial units with ‘an impressive rental yield’ and the the option to sell on individually after completion.

Extremely exciting development

The advert states: “Regal Residence are pleased to offer this extremely exciting development opportunity, which is located in the heart of Hanley, Stoke-on-Trent.

“The property is situated on the east side of Parliament Row, Hanley, Stoke on Trent.

The rear of the property backs onto Goodson Street, with a 450 space multi-story car park opposite.

The property is located immediately opposite the former Hanley Shopping Centre (East/West Precinct) which has recently been demolished and is earmarked for redevelopment into a new urban quarter to include a possible new indoor arena, restaurants, hotel and conference centre.

Opposite the former Hanley Shopping Centre

“Current nearby occupiers include McDonald’s, Boots the Chemist, Holland & Barrett, B&M, Iceland, Greggs, and various banks, with a number of other nearby shops being recently converted to residential.”