A rare opportunity to purchase Block 11 Mint Drive which is a block of 9 apartments and 9 parking spaces. The block consists of 3 x 1 beds & 6 x 2 beds and is being sold as a furnished, tenanted investment achieving £9,840 pcm (£118,080 pa) with the potential to increase rents to achieve £10,650 pcm (£127,800 pa). The limited company that owns the property can be purchased meaning there would be no SDLT to pay! The apartments are arranged over 3 floors with the ground floor commercial unit already been sold to an owner occupier. The size is 6,681 total sq ft for the apartments not including the communal area. Price per square foot - £228 per sq ft.
Mint Drive is a major residential development in Birmingham's vibrant Jewellery Quarter, located at the former coin factory at the Birmingham Mint site. The Jewellery Quarter is a designated conservation area and proposed World Heritage Site and is already a prestigious and highly desired part of Birmingham. It is experiencing further development as some of the old factories are converted into apartments, restaurants and shops. It is only a short distance to all that Birmingham City Centre has to offer.
TENANCY SCHEDULE:
Apartment 181 - 2 bed - 831 sq ft - £1,300pcm
Apartment 182 - 1 bed - 534 sq ft - £900pcm
Apartment 183 - 2 bed - 862 sq ft - £1,260pcm
Apartment 184 - 2 bed - 831 sq ft - £1,050pcm
Apartment 185 - 1 bed - 534 sq ft - £925pcm
Apartment 186 - 2 bed - 862 sq ft - £1,200pcm
Apartment 187 - 2 bed - 831 sq ft - £1,100pcm
Apartment 188 - 1 bed - 534 sq ft - £880pcm
Apartment 189 - 2 bed - 862 sq ft - £1,225pcm
LEASEHOLD INFORMATION:
Service/Estate Charge - £6,887 pa
Ground Rent - Zero (Peppercorn)
Lease Length - 999 years from 22nd July 2013
Lease, ground rent and service charge details have been provided by the seller and their accuracy cannot be guaranteed. Should you proceed with the purchase of this property, these details must be verified by your Solicitor.
BUYERS FEE
Buyer's Fee of 1% + VAT (1.2% incl VAT) of the purchase price. T&Cs apply.
This property is being offered under Martin & Co's "Secure It Now Exclusivity Package". This is an innovative secure and straightforward way to purchase this property.
Secure It Now Exclusivity Package - How does it work?
Our sellers are motivated and willing to price their properties competitively in order to ensure a fast and secure sale. You can now secure the purchase with a buyer's "Secure It Now Exclusivity fee" of 1% + VAT (1.2% incl VAT) which includes:
* A legally binding contract granting the buyer exclusive rights to purchase the property within a given timeframe (usually 56 days / 8 weeks)
* Paying the Exclusivity Fee ensures that the seller takes their property off the market as soon as the sale is agreed and reserves it exclusively for you.
* This prevents the risk of gazumping and helps you avoid losing money and wasting time which most buyers like you may face with the traditional estate agent's approach.
Step 1 - Register your interest
Step 2 - Sort out your finances
Step 3 - Arrange a viewing
Step 4 - Make an offer
Step 5 - Secure your purchase using our buy and Secure It Now Exclusivity package
Step 6 - Exchange and completion