Birmingham, B16 8FJ | Investment Property for Sale | VES-B16-101

Opportunity to buy a leasehold apartment earning £8,880 and yield 4.5% with long-term tenant in place

£198,550

Apartment

VES-B16-101

INITIAL INVESTMENT

£89,939

GROSS RENT / YIELD

£8,880 / 4.5%

NET RENT / YIELD

£4,484 / 2.3%

Long-term tenant

Tenants that stay for long periods feel they have a stake in the property and are more likely to treat it as though it was theirs.

Benefits include:

  • Steady income
  • Minimised wear and tear
  • Fewer void periods

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£150

SERVICE CHARGE

£2,052

2 bedrooms

2 bathrooms

1 reception room

636

Unfurnished

Additional Details

  • Length of lease: 125 years from March 2003
  • Service charge: £1052.88 (last service fee for 6 months )
  • Includes underground parking

Tenancy

RENT

£8,880 p.a. / £740 pcm

TENANCY DEPOSIT

£1,100

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

over 3 years ago

TENANCY AGREEMENT ENDS

5/16/2019

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to the property is supplied by the vendor and the latest available at the date of listing.

Certain information may expire or become inaccurate over time and should be verified by the purchaser’s solicitor.

Financials

Rental Income

GROSS RENT PER ANNUM

£8,880

Equivalent of £740 per calendar month (PCM).

GROSS RENTAL YIELD

4.5%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£4,484

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

2.3%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£4,396

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Profit & Growth

Disclaimer

This information is for illustration purposes only and does not constitute advice. It is correct at the time of writing. For advice specific to your personal circumstances, please speak to a financial adviser.

About Birmingham, West Midlands

Birmingham is the second largest city in the UK and boasts a population close to four million and is still growing rapidly. This metropolitan city can be found in the West Midlands, around 120miles north west of London.

Due to its central location within the country, Birmingham has fantastic travel routes via the motorway, rail and even canal networks. Major motorway routes such as the M5, M6, M40 and M42 all pass through Birmingham connecting it to all parts of the nation.

Birmingham has a busy extensive rail network system. The busiest station is Birmingham New Street, which is actually the busiest station outside of London and offers Virgin fast trains to London Euston, Glasgow Central and Edinburgh Waverley.

Also, soon to be home to the High Speed 2 rail link, which will stop at Birmingham’s Curzon Street railway station and offer a service to central London in under 50minutes as well as other routes around the country. Travelling around within the city couldn’t be easier as Birmingham has one of the busiest urban rail systems and urban bus systems outside of London, capable of taking you to any desired location in and around the city.

Birmingham is home to many amazing job opportunities through many well-known employers, such as; National Express, Lloyds Banking Group, RBS, Whitbread, Jaguar and Rolls Royce to name a few.

This location could be perfect for a young family looking for local education options. The apartments are a convenient 5minute walk from St Thomas Children’s Centre and less than ten minutes from two other co-ed primary schools; St Thomas C of E Academy and Saint Catherine of Siena Roman Catholic Primary School.

Birmingham is home to five major universities and has the highest population of students in higher education outside of London.

Morville Street,

Birmingham,

West Midlands,

England,

B16 8FJ

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