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47a, 51a, 53a, 55a & 57b Birmingham Road, Sutton Coldfield, B72 1RH

  • Auction
  • Lot 21
  • United Kingdom
  • Investment
  • Residential

Guide Price £475,000+

Bidder Security £9,000 *fully refundable if unsuccessful bidder
Auction Date 25 April
Bidding Opens 10:00 (GMT+1)
Bidding Closes 12:16 (GMT+1)

Property Viewings

Please contact us to discuss viewings for this property.
Phone
+44 (0) 20 7703 4401
Email
info@uk.bidx1.com

Property Summary

  • Long leasehold residential investment
  • Includes five flats to be offered as one lot
  • Two x 3 bedroom, one x 2 bedroom and two x 1 bedroom flats
  • Parking for each flat
  • All lets on ASTs
  • Asset management opportunities
  • Producing £50,760 per annum
  • Viewings arranged: Wednesday 17th April at 10:00 - 11:00 - Booking required

Contact Us

Simon Bailey
Simon Bailey
Property Agent, here to help.
Neil Harrison
Vendor's Solicitor

Contact Us

Simon Bailey
Simon Bailey
Property Agent, here to help.
Neil Harrison
Vendor's Solicitor

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Property description

Five split level flats situated on the first and second floors of a mixed use building arranged as two x 3 bedroom flats, one x 2 bedroom flat and two x 1 bedroom flats (refer to additonal information below). The flats are accessed via the rear and there is parking for each flat at the rear. The roof is being replaced at the end of April 2024.

Location

Sutton Coldfield is a town in the West Midlands situated approximately 6 miles north east of Birmingham and 22 miles north west of Coventry. It lies between the M6 motorway and M6 Toll, which can be accessed via the A38 at junctions 6 and T3 respectively. Sutton Coldfield railway station is within a few minutes' walk of the property and provides regional rail services including regular services to Birmingham New Street and the national rail network beyond. Numerous bus routes serve the area including National Express West Midlands via its terminus at The Parade. Birmingham Airport lies approximately 11 miles to the south providing international and domestic services.

Birmingham Road forms part of the A5127 running south from the town centre. The properties are situated above an established retail parade on the east side of the road between its junctions with Duke Street and While Road. The shopping and leisure facilities of the town centre are within a few minutes' walk as are the open spaces and recreational facilities of Sutton Park.

Planning

Birmingham City Council (0121 303 1115) - www.birmingham.gov.uk

Tenure

New long leasehold interests for a term of 250 years from completion at a peppercorn ground rent (refer to legal pack)

Additional Details

FlatAccommodationSizeTenancyRent (£pa)Rent Deposit
47aTwo bedroom flat58.99 sq m (635 sq ft)12 months AST from 17/04/2023£10,800£1,035
51aOne bedroom flat51.37 sq m (553 sq ft)12 months AST from 28/03/2023£9,360£900
53a Three bedroom flat74.04 sq m (797 sq ft)12 months AST from 29/08/2023£12,000£1,150
55aThree bedroom flat75.99 sq m (818 sq ft)AST from 04/12/2020 expiring 03/12/2024£9,000£0
57bOne bedroom flat59.55 sq m (641 sq ft)12 months AST from 30/03/2024£9,600£920
Total   £50,760£4,005

The auctioneers have not inspected or measured the property. All floor areas have been provided by the Seller.

The internal photographs are of Flat 47a and are dated March 2023.

VAT

VAT Not Applicable.

Energy Performance Indicator

Flat 47a - Rating 49 Band E

Flat 51a - Rating 44 Band E

Flat 53a - Rating 39 Band E

Flat 55a - refer to legal pack

Flat 57b - Rating 61 Band D

 

Helpful links

*Terms & Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,295 (inclusive of VAT) for all properties up to £49,999, and £2,400 (inclusive of VAT) for all properties £50,000 and above charged by BidX1. In the case of a joint agent this administration fee will be £2,400 (inclusive of VAT). In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,795 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. All Lots sold “Subject to Vendor Confirmation” will be subject to acceptance and confirmation by the Vendor. The highest bid will be presented to the Vendor, the Vendor will have to either accept, decline or make a counteroffer, within the confirmation period. Should the Vendor decide to make a counteroffer, then a private link will be sent to the Highest Bidder advising of the offer the Vendor is willing to accept. The Highest Bidder will be obliged to accept or reject the Vendor's counteroffer. The Vendor reserves the ultimate right, apart from the auctioneer, to accept and to decline to sell to the highest or any bidder, without giving any reasons.
  8. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.
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