Local commercial agent reports another lease has been signed on a commercial property in Stoke town centre. This area once blighted by vacant commercial property seems to have become one of the property hot spots of the Staffordshire area.
One professional property investment company that owns eight properties concentrated in this area commented ?as the properties change hands and renovation and conversion projects are completed, there seems to be a really positive feel to the area again?. He explained that one property had ?risen in value from an acquisition cost of ?60,000 to be valued at ?195,000 in less than 3years?, with further capital gains expected. They also commented that ?the amount of available property stock has reduced dramatically?.
The area was once ear marked, for the now abandoned ?Church Street Conservation Area?. The scheme which has now been abandoned enjoyed the backing of some members of the Victoria Society, local Conservation Officers and Councillors.
There has been increasing speculation from local residence about regeneration funding and re-development schemes for the site of the former Spode China Factory. These rumours have gathered strength after development of apartments on Corporation Street and the planning permission being granted for the development of more apartments directly behind the town centre, and some on the site of the former cinema.
The area first enjoyed uplift after the multi-million pound redevelopment of the A500, the removal of the subways, new pedestrian access, grand re-landscaping and planting programme.
