11.47% Net Yield HMO Studio Pod-Bearwood Rd, Smethwick, B66

DESCRIPTION:

Are you looking for a secured turnkey investment with 5 year guaranteed net rental income £6,910.88 per annum / £575.90 per calender month and a net yield of 11.47%.

A hands off investment property with no voids, no bills, no council tax, no general maintenance, no management fees and your rental paid by standing order every month.

ACCOMMODATION

The OPA are pleased to present this substantial ready made, hands off investment property.

These high end investment units are arranged as “Studio Type” accommodation with stylish interiors and fittings and renovated to a high standard. Boasting En-Suite bathroom facilities, kitchenette/ Tea Station With sink, wall & base units and undercounter fridge and designated sleeping area.

There are also communal areas within the building available to all residents.

TENURE:- **Walk away with £6319.80 per annum £525.90 per month**

This investment property is sold on a new 250 year lease and sold as a ready made, hands off investment for the investor seeking a hassle free investment opportunity.

Sold with the benefit of a 5 year lease to a Social Housing Provider with no break clause, generating a rental income of £6,910.88 per annum / £575.90 per calender month

Ground Rent: £100 p.a

Service Charge: Years 1-5 ; £500 p.a

Service Charge After Year 5; £1200 p.a

This hands off investment property is producing a net yield of 11.47%

Walk away with £6319.80 per annum £525.90 per month

The property will be sold subject to a new 5 year lease from completion, with no break clause.

LOCATION:

Located in a sought after area of Bearwood, just across the boarder of Edgbaston and Harborne and within approx. 10 minutes of Birmingham city centre.

Bearwood high street is a thriving road, full of amenities, shops bars and restaurants, such as Costa, Aldi and Iceland supermarkets, Subway, Argos, Co-Op, Lloyds Pharmacy, Lloyds Pharmacy.

Located just off Hagley Road with a local conveniences including McDonalds, TGI Fridays, Ask Italian, Boots and many more.

Located circa 2.5 miles from Birmingham City Centre, this Bearwood site boasts excellent transport links, and is only 3.5miles from the M6 motorway and a 10 minute drive to Birmingham city center.

Also within close proximity to Smethwick Swimming Centre and Warley Woods Golf Course

Located Just Off The Hagley Road - Adjacent To Edgbaston and Harborne approx. 10 Mins To Birmingham city centre, Neigbouring Occupiers Are Costa, Aldi, Iceland, Argos & Convenient For McDonalds, TGI Fridays, Ask Italian, Boots and many more.

PLANNING

The property has planning for HMO Use. Any intended buyers should satisfy themselves as to the planning permission granted.

DC/22/66744 | Pursuant to planning application DC/18/61477 proposed change of use and refurbishment of part-ground floor and two-storey rear extension to accommodate an additional six single-occupancy bedsits; together with bicycle parking facilities, refuse and recycling storage, and external staircases.

DC/22/66544 | Lawful development certificate to confirm that planning permission for change of use of part-ground floor and upper floors and single-storey rear extension to accommodate 11 No. single occupancy bedroom HMO together with bicycle parking facilities and refuse and recycling storage (granted under appeal ref APP/G4620/W/18/3206616) has been lawfully implemented.

AGENT NOTES

The property is under renovation & photographs are for illustrative purposes Only. Completion anticipated in Q1 Of 2023.

VIEWINGS

Please contact The Online Property Agency

BUYERS FEE

Buyer's Reservation Fee of 2% of The Purchase Price - Min fee £2400 inc VAT. (All fees inclusive of VAT). T&Cs apply.

The OPA’s “Secure It Now Exclusivity Package”

This property is being offered under The OPA’s “Secure It Now Exclusivity Package”

This is an innovative secure and straightforward way to purchase this property.

Here are the benefits for you:

• Secure your dream property straight away

• Properties are realistically priced

• Similar to a “normal” or “conventional” sale with a few measures to protect the buyer and the seller

• Focuses on speed

• Mortgage buyer friendly

• Suitable for first time buyer

• Mortgage buyers and cash buyers compete on equal terms

• No competitive bidding

• No risk of being gazumped

• Minimises risk of fall throughs

Secure It Now Exclusivity Package - How does it work?

Our sellers are motivated and willing to price their properties competitively in order to ensure a fast and secure sale.

You can now secure the purchase with a buyer’s “Secure It Now Exclusivity fee “ of 2% which includes :

• A legally binding contract granting the buyer exclusive rights to purchase the property within a given timeframe (usually 56 days / 8 weeks )

• Paying the Exclusivity Fee ensures that the seller takes their property off the market as soon as the sale is agreed and reserves it exclusively for you.

• This prevents the risk of gazumping and the

• helps you avoid losing money and wasting time which most buyers like you may face with the traditional estate agent's approach.

• You get a fixed exclusivity period (approximately 8 weeks) to complete, safe in the knowledge that you will not be gazumped or outbid by another buyer.

Step 1 - Register your interest

Step 2 - Sort out your finances

Step 3 - Arrange a viewing / Virtual Tour

Step 4 - Make an offer

Step 5 - Secure your purchase using our buy and Secure It Now Exclusivity package

Step 6 - Exchange and completion

Next Steps – Do Not Miss Out -

Please note this is a realistically priced property and is likely going to create a fair amount of buying interest. If you're interested in buying this property, we'd urge you to contact us immediately to avoid losing out.

Please note this is a non-refundable exclusivity fee in addition to the purchase price.

MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale. 2: These particulars do not constitute part or all of an offer or contract. 3: The measurements indicated are supplied for guidance only and as such must be considered incorrect. 4: Potential buyers are advised to recheck the measurements before committing to any expense. 5: All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; 6: No persons in the employment of The OPA has any authority to make or give any representation or warranty whatever in relation to this property. No services, fixtures, fittings or appliances, including central heating, have been tested by the Agent at the time of printing. All references to parts of the fabric, material, decoration, external or internal features or grounds of the property are made without any warranty as to their conditions or effectiveness. Where definite checks have been made, such results will be made clear at the appropriate place in the particulars of sale. Every effort has been made by the Agents to obtain accurate information from the correct sources. However, intending purchasers and other readers are asked to make their own arrangements regarding verification of any statements expressed in these particulars of sale.

“Please be advised that this property may have been owned by the current seller for under six months, or the seller may have the exclusive right to sell the property. If you require any further clarification, please speak to a representative of The OPA.”

Any reference to, or use of any part of the property is not a statement that any necessary planning, building regulations or other consent has been obtained. All photographs shown are indicative and cannot be guaranteed to represent the complete interior scheme or items included in the sale. No person in our employment has any authority to make or give any representation or warranty whatsoever in relation to this property.

Misrepresentation Act 1967: The OPA for themselves and for the vendors or lessors of this property whose agents they are, give notice that: (1) These particulars do not amount to, nor amount to any part of, an offer or contract. (2) None of the statements contained in these particulars should be relied on as statements or representations of fact, therefore all prospective purchasers or tenants must satisfy themselves as to their accuracy.

In accordance with Section 21 of the Estate Agents Act 1979 an interest is declared in that the vendor of the property is a relative of a Partner of The Online Property Agency Ltd