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Plot for sale
Gravelly Hill, Birmingham, West Midlands, B23
£2,000,000
Gravelly Hill, Birmingham, West Midlands, B23
£2,000,000
Our Summary
- Council Tax Band: TBCTenure: FreeholdParking Arrangements: private parkingProperty Construction: standardElectricity Supply: MainsWater Supply: MainsSewerage: MainsHeating Supply: electricBroadband: Refer to OfcomMobile Signal Coverage: No known issuesBuilding Safety Issues: NoneRestrictions: NoneRights And Easements: NoneFlood Risks Or Previous Flooding: NoPast Or Present Planning Permissions Or Applications: NoIs the property located in a Coalfield Or Mining Area: NoAGENTS NOTE:We have not tested any of the electrical, central heating or sanitaryware appliances
Description
This is a rare opportunity to acquire a complete freehold apartment scheme comprising two blocks with 14 apartments, all with tenants in situ, generating immediate income. The portfolio is situated in the high-demand rental area of Erdington, Birmingham, and offers a strong gross yield of up to 9.8%. The development is fully occupied, with a mix of one- and two-bedroom apartments appealing to a wide tenant base. The freeholder currently manages the development directly, providing full control and flexibility over running costs and service arrangements. The property is situated in a high-growth area, with forecasts predicting significant increases in both property values and rental prices in the coming years. With no block management company in place, the buyer can take control of the development and make changes as needed. This is a turnkey offering that eliminates the time and cost of finding and managing individual properties.