St Pauls Mews, St. Pauls Square, Jewellery Quarter

For Sale  | 2 Bed - Apartment

Council Tax Band C
EPC Rating View EPC
  • Overview
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Property Features
  • Investment Opportunity
  • Outstanding 6.72% Gross Yield
  • Tenant in Situ Until February 2024
  • Incredible Jewellery Quarter Location
  • Two Bedrooms
  • Two Bathrooms
  • Full Furniture Package Included
Property Description

A fantastic investment opportunity in the heart of the vibrant Jewellery Quarter, boasting a 6.72% gross yield, and a competitive 5.84% yield based on a normalised service charge. This stunning two-bedroom apartment benefits from a breathtaking open plan living room. The master bedroom boasts an en suite bathroom, providing added privacy and convenience. This unbeatable location provides easy access to the charming boutique shops, bustling restaurants, and exciting nightlife that the Jewellery Quarter has to offer.

With a tenant in situ until 12/02/2024, paying £1,400 per month it offers investors a hassle-free buy to let. This apartment is an excellent investment opportunity that is unrivalled in Birmingham’s City Centre buy to let market. At an amazing value of just £352 per square foot, this is an opportunity that won’t last long. Book your viewing today and start living your best life in the Jewellery Quarter!

The current and previous accounting years’ service charge have been increased to £4,195.10 (by agreement with all leaseholders) in order to fund improvement works to the building’s common parts. As such, prospective buyers should note the current years’ service charge is not reflective of a ‘normal’ years’ operating costs, which has historically been in the region of £2,100. The seller will be liable for the inflated service charge costs in relation to the building improvements currently being undertaken, and this additonal cost will not be passed on to the buyer. The current increase is funding some of the works currently underway to the common areas, and in parallel, is helping build a more substantial reserve fund to help future proof the building and residents.
The building has already seen some of the benefits of the increased service charge through new lighting systems amongst other improvements and will continue to see enhancements via redecoration and new carpet to all communal areas. We’re being advised by the building and estate management company that once these works are completed, they envisage seeing a return to a more normalised annual service charge budget.
Prospective purchasers will therefore benefit from improvements funded during previous ownership.

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Ground Rent £100.00 per year
Length of Lease 152 years left
Annual Service Charge £2100.00
Lease Expiry 2175
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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.