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Bearwood Parade, Bearwood High Street, West Midlands

Offers in Excess of
£2,400,000
Added on 28/04/2022
Centrick, Nationwide
PROPERTY TYPE

Studio

BATHROOMS

×38

Key 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

Tenure: Freehold

INVESTMENT OPPORTUNITY GENERATING A YIELD OF 11.18%

**BLOCK VIEWING 12 NOON WEDNESDAY 11 MAY PLEASE CALL (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

Bearwood Parade, Bearwood High Street, West Midlands

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Smethwick Galton Bridge Tram Stop1.4 miles
  • Smethwick Rolfe Street Station1.6 miles
  • University Station2.1 miles
Mortgages
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Market information
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About the agent

Centrick, Nationwide

The Exchange,​ 19 Newhall Street, Birmingham B3 3PJ

Working across the country for clients with larger portfolios, Centrick Property acts with the same care and dedication as if we were your own in-house property team. Our complete service combines comprehensive block management, maintenance, sales and lettings services and by pooling the skills and resources of all of our business divisions, we deliver our clients a seamless and cost-effective asset management solution.

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Disclaimer - Property reference 2635542. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Centrick, Nationwide. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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