West Bromwich, B70 6JJ | Investment Property for Sale | VES-B70-002

Opportunity to purchase 20 apartments in West Bromwich with the potential to generate £187,200 rent pa

£3,180,000

20-unit broken Block

VES-B70-002

INITIAL INVESTMENT

£911,900

Based on

deposit: £795,000

stamp duty: £95,400

mortgage fees: £1,500

conveyancing fees: £20,000

GROSS RENT

£187,200

GROSS YIELD

5.9%

ADD TO FAVOURITES

The block

TENURE

Leasehold

NO OF UNITS

20

TENANCY STATUS

Vacant

FURNISHED

No

TOTAL SQ FT

12,591

PRICE SQ FT

£253

The vendor is open to selling individual units, please get in touch if you are interested.

Block information

  • New redevelopment of 47 apartments of which Vesta has access to 20 units & 3 parking spaces
  • Targeted completion date in Q2 2021
  • The units comprise:
    • 17 x 1-bed apartments
    • 3 x 2-bed apartments
  • Spread over 4 floors (1st to 4th floor)
  • Lift access from the ground floor to the 3rd floor
  • Co-working space on the second floor
  • Key specifications of the apartments:
    • Living areas have a 4.25m ceiling height
    • Pre-installation for Virgin Media TV and broadband
    • Energy-efficient panel heaters
    • Fully integrated kitchen
    • 10-year building warranty
    • Paxton Fob access control to building entrance only
    • GSM Door entry control to building entrance
    • CCTV surveillance in public areas
    • High-speed gigabit broadband enabled infrastructure

Rental information

Once fully let the following is expected:

  • Aggregate monthly rental income: £15,600
  • Aggregate annual rental income: £187,200
  • Aggregate gross yield: 5.9%

Location information

  • The block is located just on the edge of West Bromwich city centre a few minutes walk away
  • Easy access to both the M5 and M6 motorways and direct tram links to Birmingham city centre
  • Dartmouth Park can reached on foot in less than 15 minutes

Available upon request

  • Block breakdown
  • Leasehold information
  • EPCs (once available)

Notes

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

At the time of listing there are no EPCs available for this property. However, Vesta will add these as soon as they have been received.

Floorplans

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

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About West Bromwich, West Midlands

West Bromwich is a market town in the West Midlands and lies around 6.5 miles north-west of Birmingham. The town is in an area known as the Black Country, which is naturally rich in ironstone and coal. The town was once a centre for coal mining, brick making, the iron industry and metal trades.

The West Midlands is also a key beneficiary of the increase in infrastructure investment that was announced in the 2020 Spring Budget, with an allocation of £4.2 billion for intra-city transport, £700 million on strategic road schemes and £20 million on rail hubs, which comes on top of the greenlight for the construction of HS2 which is also expected to bring significant economic activity to the region.

West Bromwich is very well connected with the M5 and M6 motorways passing by, as well as 7 tram stops of the Midland Metro light rail. The closest mainline railway station is Sandwell & Dudley in nearby Oldbury and is on the Birmingham Loop of the West Coast Main Line. Train services run to Wolverhampton and Walsall via Birmingham New Street and Aston, and Shrewsbury, as well as Glasgow Central, Edinburgh Waverley via Crewe & Preston, and London Euston via Birmingham New Street, Birmingham International, Coventry and Milton Keynes Central.

The closest airport is Birmingham Airport which lies around 16 miles away and can be reached by car, by tram to Birmingham New Street and by train to Birmingham International.

Parts of Sandwell Valley Country Park and Sandwell Valley RSPB nature reserve are located in the West Bromwich area, making both a perfect location for walking and bird watching. Sandwell Park Farm and Forge Mill Farm are also open to the public.

There are a number of shopping destinations within West Bromwich, such as the Hight Street, New Square, Kings Square Shopping Centre, Queens Square Shopping Centre, Astle Retail Park as well as two markets. One is in the High Street and the other in Kings Square Shopping Centre.

Sandwell College is the largest educational provider in town. The college offers A-level programmes and has facilities to train aircabin crew as well as a dental surgery to train dental nurses. It also offers a number of apprenticeships and Higher Education programmes. Other schools include Phoenix Collegiate Academy, George Salter Academy and Q3 Academy. There are 5 secondary schools and 21 primary schools in town.

High Street,

West Bromwich,

West Midlands,

England,

B70 6JJ

What makes us different?

Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.

Benefits include:

  • Buy tenanted property
  • Huge choice for all budgets
  • View property performance data
Learn more >

Questions?

Our sales team is standing by to help.

Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

Copyright © 2021 Vesta Global Limited. All rights reserved.