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Apartment 155, 51 Sherborne Street, Birmingham B16 8FP

Auction Event
 

Guide Price £95,000+ plus fees

UnconditionalOn the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay the applicable deposit and Buyer’s Fee stated on the property description, both of which are non-refundable. The deposit contributes to the purchase price. The Buyer’s Fee does not contribute to the purchase price. Completion must take place usually within 30 days, unless the Special Conditions of Sale within the legal pack state otherwise.

Thursday 30th January 2025

9.00am
Key Features
  • Council Tax Band: D
  • Investment property
  • Currently generating a yearly rental income of £10,800 per year
  • Ground floor apartment in a sought after residential block
  • Potential to increase rental income to £12k per year with next rent review
  • Allocated parking on site
  • Prime city centre apartment
  • EPC Rating: C
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Apartment

Property Description:

Investment property situated on the ground floor of an impressive block of apartments and currently generating an impressive yearly rental income of £10,800 with further scope to increase to £12k per year.

A large one-bedroom ground floor apartment located along Sherborne Street, Birmingham City Centre, offering double digit return on investment against the guide price. This spacious apartment is well situated a few minutes walk to Brindley place, Broad Street and all transport links including the tram.

The apartment benefits from a large open plan kitchen/living room with fully equipped kitchen and integrated appliances, family bathroom with bath and plenty of storage space, along with a parking space.

We have been advised the apartment is currently let on an AST for 900pcm. There is scope to increase the rent with current 1 beds going for £1000pcm with parking.

Leasehold Information

Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.

Additional Information:

Construction Material: System Built (taken from epc). Heating: Electric. Coverage: Broadband - Standard, Ultrafast and Superfast is available in this location. Mobile signal - O2, Vodafone, EE and Three show as available. Satellite and Cable - BT and Sky show as available in this area.

Tenure:

Leasehold. Subject to tenancy.


Utilities Information
  • Heating Supply: Electric
  • Electric Supply: Mains Supply
  • Water Supply: Mains Supply
  • Sewerage Arrangements: Mains Supply
Parking Arrangements

Allocated



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.