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Bearwood Parade, Bearwood High Street, West Midlands

For Sale  | 38 Bed -

£2,400,000
  • Overview
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Property Features
  • 38 HMO Studios
  • Freehold opportunity
  • Offers invited in excess of £2,400,000
  • ERV at £269,500
  • Located in the thriving area of Bearwood
  • Excellent transport links
  • Recently redeveloped portfolio in an excellent condition
  • Gross yield 11.18%
Property Description

INVESTMENT OPPORTUNITY GENERATING A YIELD OF 11.18%

**BLOCK VIEWING 12 NOON WEDNESDAY 11 MAY PLEASE CALL 0121 347 6116(option 1)** Best and final offers invited deadline is 3pm Tuesday 24 May. We are delighted to offer an investment opportunity of 38 HMO studios in the heart of Bearwood. It is a freehold opportunity, with offers being invited in excess of £2.400,000, with the property having an ERV of £269,500 including £700 ground rent. Located in a sought after area of Bearwood, close to Birmingham city centre (2.5 miles), this Bearwood site boasts excellent transport links, and is only 3.5miles from the M6 motorway and a 15 minute drive to Birmingham city center. All studios are recently redeveloped and of a high interior specification and retain excellent condition throughout. Access to the dwellings is through a gated security area and private driveway to the rear of the properties. There is commercial units to the ground floor, all of which have been sold on long leases.

Bearwood high street is a thriving road, full of amenities, shops bars and restaurants, such as Aldi and Iceland supermarkets, Smethwick Swimming Centre and Warley Woods Golf Course. Average house prices in the area are increasing by 11%, which is 5% faster than the Birmingham average, and Bearwood has a growing population of 54,000.

There is also an additional development opportunity available, consisting of planning permission for an additional 28 units, with plans being available on request, and offers invited in excess of £840,000.

Yield is circa 10% after ulitities

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Disclaimer

These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract and are produced in good faith and set out as a general guide only. The intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No employee of Centrick Property (and their Joint Agents where applicable) has the authority to make or give any representation or warranty in respect of the property. Subjective comments in these details imply the opinion of the selling Agent at the time these details were prepared. Naturally, the opinions of purchasers may differ.