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Eleven fully let apartments in Birmingham city centre have come on to the market with Bond Wolfe for offers based on £2.4m.
The residential investment portfolio, spread across six blocks mainly in the highly sought after district of the Jewellery Quarter, is currently bringing in rents of nearly £125,000 a year.
James Brady, a property agent at Bond Wolfe, says a freehold block of two apartments is included as part of the sale, which is subject to all existing tenancies.
He comments: “We are delighted to bring this portfolio of city centre apartments to the market. The apartments are predominantly located in the Jewellery Quarter, an area that is ever popular among working professionals thanks to its eclectic offering of restaurants, bars, cafes, and shops.
“The Jewellery Quarter has a strong creative vibe and attracts businesses from across the media, design and professional services sectors. All 11 properties are let with potential to enhance the rental income, and we see this as an ideal opportunity for secure long-term income for buy to let investors.”
There are nine two-bedroomed and two one-bedroomed apartments in the portfolio, currently producing a combined annual rent of £124,260, although the estimated rental value is £130,640 per annum.
The properties are all a short walk from city centre shops and venues such as the Bullring, Grand Central and Arena Birmingham, plus the busy canal network. They all have easy access to the Midland Metro tram line and bus routes, New Street and Snow Hill railway stations and the A38M Aston Expressway, leading to Junction 6 of the M6 Motorway.
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Probably another one getting out of the PRS due to Government and Councils
Government and Councils need to wake up and smell the coffee.
LLs are totally sick of your constant methods of back door taxes.
They must surely realise the massive problem that is hurtling down the road as more and more LLs sell up.
They don’t build or have much stock of social housing and have been relying on PRS LLs to prop them up.
Now they are doing everything in their power to make people homeless.
I can't even afford the SDLT on them!
Another investor trying to get out of property because of all the continuous attack on the renting sector.
However to be honest they seem like good value for someone that is in a good financial position.
Spare a thought there’s an other Auction due in London where what was a normal Semi-Detached house now carved up into 8 Studios and a one bedroom Flat in the Croydon area, I kid you not whether legal or not I can’t imagine.
Guide price £1.2m an annual rental income supposedly £116k, pa, out of one house in outer London in a an area that leaves a lot to be desired.
At least the Birmingham one’s looks like proper Flats while the other are over crowded, cramped living might as well be Prison Cells. Have a nice day.
Another one leaving the sinking ship.
Why doesn't the council buy it ?
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