Studio flat
An investment property located in the heart of Birmingham, with Brindley Place and Broad Street within walking distance making this one of the most sought after location in the centre of Birmingham. The apartment currently generates an income in excess of £8,000 per year which could be increased to £800 pcm (£9,600 per annum) when the current AST ends in March.
Generating a current yield against our guide price in excess of 12% return with the potential to further increase this to over 14%. Excellent investment opportunity.
Close to train station and a wide range of local amenities, bars, restaurants and shops.
29ft 5 x 11ft 6
6ft 1 x 4ft 10
We have been advised that the annual service charge for 1 Jan 2024 - 31 Dec 2024 is £1,620.44. Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.
Please be advised that the auctioneers have not personally inspected the property and there is no access available. Prospective buyers, particularly those relying on financing options who may require a survey, are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
We have been informed that the EWS1 form, lease information, length of lease etc should be included in the legal pack.
Leasehold. Subject to tenancy.
£150
105
£1,620
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
