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Portfolio of 3 apartments,one-bed Flat each,Birmingham City Center B1

GBP 489,950

Type:  For Sale

Bedrooms: 3

Price: £ 489,950 for all 3.

Rental Status: Fully Tenanted

Current Rental Income:  £ 25,200 pa

As Service Accommodation: £ 70,000 pa

Gross Yield:  5 %

As Service Accommodation: 15 %

Description: 

A portfolio of 3 Luxury Apartment, one bed flat with kitchen, lounge, bath, WC in a prime City of Birmingham Location.

Like For Like Sales in the Same Block
Oct 2018 – £ 189,500
Oct 2018 – £ 189,000
Oct 2018 – £ 295,000 (2 bed)
Total: £ 673,000

Discounted by 20 %

Property Value Increase (B1):  25 %
(2014 – 2019)

Description: Like For Like Sales in the Same Block Oct 2018 – £ 189,500 Oct 2018 – £ 189,000 Oct 2018 – £ 295,000 (2 bed) Total: £ 673,000 Slight anomaly here, however we have included the last three sales in the block, which includes a 2 bed. Moreover, It should give an indication of how solid the prices are in the block. This portfolio of 3 luxury apartments is in the heart of Birmingham City Center. They are rented at between £ 650 to £ 700 per calendar month. However, the rental potentials have not yet been fully utilised. Switching their usage to Serviced Accommodation would greatly increase the returns gained from these units. Standard rates in the area are between £65 – £ 75 per night. Potential Rentals Returns on a 80 % annual occupancy at a standard rate of £ 70 per night. THE FIGURES: 3 x £ 70 per night = £ 240 per night. Over the Year that would give rise to £ 87,600 potential rental income on 100 % annual occupancy. However, lets play conservative and say 80 % annual occupancy. That would still give rise to a healthy £ 70,000 rental return. Tenure: Leasehold. Lease Term: 150 years from 2005 Service Charge: £1, 800 pa Ground Rent: £ 275 pa Local Authority is Birmingham City Council Council Tax Band: E: £1,836 pa Energy Performance Rating: C – with the potential to be a B Environmental Impact Rating: D – Potential: C Broadband Speed: Up to 40 Mbps Fast.

Mortgage Illustration  

(All figures below (approximate only, not to be used as reference, as exact)

Based on a 75% Loan To Value ( LTV ).
Mortgage Product:- Interest Only @ 3.25 %

  • Price: £489,950
  • Required Deposit: £122,487 (As of 25%, typical)
  • Mortgage Amount: £ 367462
  • Mortgage Payment: £999 pm (Approx.)
Essential Financial Information

(Factoring in the Mortgage Illustration shown above)

  • Rental Standpoint: Currently Rented
  • Rental Income: £ 25,200 pa
  • Mortgage Payments: £ 999 pm
  • Net Rental Income: £ 14,232 pa
  • Net Rental Yield: 3 % 9
  • Return On Investment: 12.5 %

FOR MORE INFORMATION, PLEASE CONNECT US VIA CHAT, CONTACT FORM OR TWITTER TO EXPRESS YOUR INTEREST. PRICES QUOTED HERE SUBJECT TO RE-CONFIRMATION ONLY.  OVERSEAS INVESTORS WELCOME. WE CAN ARRANGE YOUR SOLICITORS FOR SMOOTH CONVEYANCING PROCESS WITHOUT ANY BACKHANDED REFERRAL FEES.

State/County:
Zip: B1
Country: United Kingdom
Open In Google Maps
Property Id : 21241
Price: GBP 489,950
Rooms: 6
Bedrooms: 1
Bathrooms: 3
Floor Plan
Floor Plan
walkscore96 / Walker's Paradise more details here

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