Secure gated investment close to city centre.
Tenant in situ paying £675pcm (£8,100pa)
A compact second-floor studio in a gated 1980s block, offered with a tenant in situ paying £675pcm. The apartment has a long lease (circa 968 years), share of freehold via a management company, and secure gated residents’ parking — all helpful for buy-to-let purchasers.
The layout is open plan with an integrated kitchen, dressing area and a bathroom with an electric shower. Double glazing and an EPC rating of C are positives for energy efficiency; heating is by electric storage heaters which can be costly compared with gas. Service charges are low at around £810 per annum and ground rent is a peppercorn.
Location is close to Birmingham city centre with local shops and transport links nearby. Note the wider area is described as inner-city with higher crime levels and significant deprivation; the neighbourhood profile and high local crime should be considered when assessing yield and resale prospects.
This property is most suited to investors seeking an immediate income and a long lease, or to a single buyer prepared for small-space living. The main drawbacks are the compact studio size, electric heating, modest communal grounds, and the local area’s socio-economic challenges.