Town house
An impressive seven bedroom investment property generating a handsome rental income with further potential to increase, and is located in a very sought after location in Birmingham.
The property currently has 5 tenants who collectively pay £35,220 pa in rent, once the final two rooms are tenanted the income could increase to £53,100 pa.
Once fully tenanted the yield against the guide price will be 18%.
The property briefly comprises of seven double bedrooms, bedroom one with en-suite, a spacious living room, two bathrooms, a good size kitchen, and front and rear gardens.
Close to a wide range of local amenities such as shops, schools, and restaurants, and just a few minutes walk to Stechford train station. There are excellent travel links to Birmingham City Centre, Solihull, Birmingham International airport, the NEC and to the motorway network.
Construction Material: Standard brick. Heating: Boiler and radiators, mains gas. Coverage: Broadband - Standard and Ultrafast is available in this location. Mobile signal - O2, Vodafone, EE and Three show as available. Satellite and Cable - BT, Sky and Virgin show as available in this area.
These sales details are awaiting vendor approval.
Freehold. Subject to tenancy.
- Heating Supply: Gas Central
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
Driveway
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.
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 (subject to a minimum of £6,000 inc. VAT).
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.
