We are back in the auction room for our 21st July auction!

 

3, 5 & 7 Station Road, West Heath, Birmingham, B31 3TE

8 self contained flats, suitable for redevelopment, subject to obtaining the necessary planning consents in West Heath

Guide price*

£395,000+

Plus fees

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Finance available on this property

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Lot 130 Residential Investment
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Auction details:

Thursday 21st July 2022 @ 09:30AM

Holte Suite, Aston Villa FC, Trinity Rd, Birmingham B6 6HE & Live Stream

A Substantial Freehold Investment Property which is currently arranged as Eight Self Contained Flats, which may be suitable for redevelopment, subject to obtaining the necessary planning consents. Current Gross Income: £41,820 pa.

Property Description

Three properties converted into eight self-contained flats.

Accommodation

No. 3: Communal Entrance, Communal Hall, Communal Kitchen/Laundry.
Flat 1 - Living Room/Kitchenette, Bedroom, Shower Room/WC.
First Floor: Landing.
Flat 2 - Living Room/Kitchenette, Bedroom, Shower Room/WC.
Flat 3 - Living Room/Kitchenette, Bedroom, Shower Room/WC.
No. 5: Commuanl Entrance, Communal Hall, Communal Kitchen/Laundry.
Flat 1 - Living Room/Kitchenette, Bedroom, Shower Room/WC.
First Floor: Landing.
Flat 2 - Living Room, Kitchen, Bedroom, Shower Room/WC.
Flat 3 - Open Plan Studio Bedroom/Living Room/Kitchenette, Shower Room/WC.
No. 7: Communal Entrance.
Flat 1 - Living Room, Kitchen, Bedroom with En-Suite Shower, Separate WC.
First Floor: Landing.
Flat 2 - Living Room/Kitchenette, Bedroom with En-Suite Shower, Separate WC.
Outside: Rear Off-Road Parking, Rear Garden (No. 7).
The property benefits from having emergency lighting, fire doors, mains smoke alarms and UPVC double glazing.

Energy Performance Rating

Flat 1 No. 3 - D, Flat 2 No. 3 - D, Flat 3 No. 3 - C, Flat 1 No. 5 - D, Flat 2 No. 5 - D. Flat 3 No. 5 - C, No. 7 - D.

Council Tax Band

All Band A.

Tenure

Freehold – Subject to the existing tenancies.

Auctioneer's Note

Each flat has its own electricity meter and pays its own Council Tax.
Please note offers may be considered prior to the Auction Sale.

Viewings

External viewings only.

Tenancy Details

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No. 3 - Flat 1: The property is let at a rental figure of £440 per calendar month - £5,280 per annum.
No. 3 - Flat 2: The property is let at a rental figure of £410 per calendar month - £4,920 per annum.
No. 3 - Flat 3: The property is let at a rental figure of £440 per calendar month - £5,280 per annum.
No. 5 - Flat 1: The property is let at a rental figure of £410 per calendar month - £4,920 per annum.
No. 5 - Flat 2: The property is let at a rental figure of £470 per calendar month - £5,640 per annum.
No. 5 - Flat 3: The property is let at a rental figure of £350 per calendar month - £4,200 per annum.
No. 7 - Flat A: The property is let at a rental figure of £470 per calendar month - £5,640 per annum.
No. 7 - Flat B: The property is let at a rental figure of £495 per calendar month - £5,940 per annum.
Total Current Income: £3,485 per calendar month - £41,820 per annum.
We are advised by the current owners that many of the flats have not had rent reviews for a number of years.
DISCLAIMER

Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and all potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.

REMOTE BIDDING AUCTION

Please note that the Auction will be livestreamed via our website with Remote Bidding by Proxy, Telephone or Internet Only.  You must pre-register to bid for each auction no later than 24 hours prior to the auction.  Please click here for further details.

*DEFINITION OF GUIDE & RESERVE PRICE

All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.

COSTS AT AUCTION

When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding.  They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.

The sale of each lot is subject to an administration fee of £1,680 inc VAT (£1,400.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction.  Please note that the administration fee for
the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.

Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the ‘lot information’.  Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.

Remote bidding registration