Block of flats for sale in Dudley Park Road, Acocks Green, Birmingham B27
* Calls to this number will be recorded for quality, compliance and training purposes.
Property features
- Block of 12 x Studios
- 15.36% Net Yield
- Block Of Flats
- Hands Off Investment
- £137,500 p.a Net Rent - Fully Let Until 2031 (7 Year Lease)
- Tenant Company Is Responsible For Bills, Council Tax, General Internal Maintenance & Repairs For Full Lease Term
- Hassle Free Investment - Long Term Secure Tenancy Lease In Place
- Walking Distance To Acocks Green High Street & Train Station
- Separate Meters
- Leased on 7 Year Hands Off Lease (No Break Clause)
Property description
Description
Opa are pleased to present this rare opportunity to acquire this exclusive investment opportunity comprising of 12 studios and generating an impressive 15.36% Net Yield
The property will be sold as a "turnkey" ready made investment opportunity, after an extensive renovation and will be sold fully tenanted, generating a fantastic £137,500 per annum net rent (£11,458 pcm).
This secure hands off freehold investment is fully let on a 7 year lease, producing a guaranteed rental income. In accordance with the terms of the lease, the landlord is not responsible for bills, general maintenance and repairs, council tax, property management fees and no void periods. The rent is paid by standing order every month.
Accommodation
Basement
Ground Floor -
Studio 1
Studio 2
Studio 3
First Floor -
Studio 4
Studio 5
Studio 6
Second Floor
Studio 7
Studio 8
Studio 9
Each studio will come newly renovated, including kitchenette, en-suite and comes fully furnished.
Tenure
This Property is Freehold.
This hands off investment property is producing a 15.36% Net Yield
This Property is Freehold and will be sold with the benefit of a new 7 year lease, generating a net rental income of £137,500 per annum net rent (£11,458 pcm)
Investment
This property will come securely leased to a reputable housing provider, ensuring a guaranteed net rental income of £137,500 per annum. With a hassle-free investment model, this is an opportunity for investors to enjoy consistent returns without the complexities of day-to-day management.
• No Void Periods: Continuous rental income with no interruption.
• No General Maintenance: The tenant handles all general maintenance.
• No Council Tax: Council tax is the tenant's responsibility.
• No Bills: All utility bills are covered by the tenant.
• No Management Fees: Maximize your net income with no additional management fees.
• Reputable Tenant: Leased to a well-established housing company.
Location
Situated on highly sought after residential road in Acocks Green, this suburban area is renowned for its bustling high street, boasting a variety of shops, restaurants, and amenities.
The area is served by a train station, which is just a 4 -minute walk from the property. This provides convenient access to both Birmingham city centre and the wider region, with regular services to destinations including Solihull, Coventry, and London.
Agent notes
The property is under refurbishment and sold on an off plan basis. Photos are for illustrative purposes to give an indication of the standard of accommodation that will be provided.
The property will be rewly renovated for the new owner prior to completion in accordance with the tenant's requirements.
Viewings
Please contact opa for viewings.
Material information
The opa have taken reasonable precautions and exercised all reasonable due diligence by asking the Seller of the Property to provide us in writing a declaration of material information regarding a property to comply with the Consumer Protection from Unfair Trading Regulations 2008. However, certain information may be unavailable and/unknown. Any buyer must carry out their own due diligence and rely on their own searches investigations and enquiries in respect of all matters relating to their proposed purchase of this property, to enable them to make an informed transactional decision before proceeding to entering in to the exclusivity agreement on this property
Material / Construction
Standard construction
Property Type
semi-detached house
Utilities
Mains elec, gas, water, Sewage
EPC - New EPC to be provided after refurb. (Currently E)
Council tax band - E
Heating
Gas central heating
Broadband
Ask agent
Parking
Driveway
any restrictive covenants, any easements, servitudes, wayleaves, any public rights of way across property or boundaries
Refer to property pack
any flooding in last 5 years
Not known.
Is the property listed?
No
Confirm existence & nature of any known planning or proposals for evelopment
We are advised that the property has been used as self contained flats for in excess of 10 years. Any prospective buyer should carry out their own investigations.
Proerty accessibility – any step free access inc ramps/ lifts?
No
any wet room/ level access shower
no
is the property known to be on A coalfield/ mining or directly impacted by effect of other mining activity
no
Leasehold properties only (lease length)
N/A
Leasehold properties only (ground rent)
N/A
Leasehold properties only (service charge)
N/A
Any other material information – information that may affect the average consumer’s decision making
Refer to pack.
Agent notes
Draft details, awaiting vendor approval. Photos for illustrative purposes. The property is under renovation and the photos are provided to give a general indiction of the standard of accommodation that will be provided.
Property will be refurbished to provide 12 x studios, including ensuite bedrooms with tea stations/ kitchenettes, new flooring throughout, blinds, thumb-turn locks on all doors, furnished and fully furnished. Comprising of 9 flats, including 3 x flats comprising of 3 studios) x Studios, .Once works are completed the property will be Leased to the social housing provider (New lease granted on exchange of contract and issued via the solicitors once the works are completed The lease will be signed & sent to buyers solicitor prior to exchange of contract). The seller will provide new eicr certificates, Emergency Lighting Certificates, EPC, Fire Risk Assessment, Legionella Report, Asbestos Report. The property will be sold with the benefit of a new lease to a social housing provider, which will commence from exchange of contracts. The new buyer will be provided with the draft lease as part of the material information which will be entered into on exchange of contracts for £137,500 p.a.
Buyers fee
Buyer's Fee of 2% of The Purchase Price(All fees inclusive of VAT). T&Cs apply.
Please request information pack, Buyer’s Guide & FAQs.
You will be required to enter into an “Exclusivity Agreement” with the Seller, granting you the Buyer the Exclusive right to purchase the property within the exclusivity period.
Please note the Buyer’s Fee is a non-refundable unconditional Exclusivity Fee in addition to the purchase price payable to the Agent upon offer acceptance.
The fee is not subject to a cooling off period and is non-refundable save in accordance with the terms stated in the exclusivity agreement
Upon offer acceptance you will not be required to exchange contracts, but will be granted an “exclusivity period” in order to exchange and complete on the transaction. This timescale will generally be 8 weeks, but will be specified in the Exclusivity agreement.
This is a flexible and buyer friendly method of purchase. By signing the Exclusivity Agreement and paying the Buyer’s Fee, this secures the transaction and takes the property off the market.
By paying your fee, that amount may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty land tax liability.
The opa’s “Secure It Now Exclusivity Package” – this is a legally binding agreement between you are the seller. When the offer is accepted, the buyer pays the Exclusivity Fee to the Agent and enters into an “Exclusivity agreement with the Seller”, granting the buyer an exclusivity period, which is usually upto 8 weeks to complete on the purchase of the property. During the exclusivity period, the buyer has the exclusive right to purchase the property, no other offers can be accepted and during this period buyer must complete the sale transaction. If the buyer fails to complete in this period, the fee is non-refundable.
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
• Similar to a “normal” or “conventional” sale with a few measures to protect the buyer and the seller
• No competitive bidding
• No risk of being gazumped
• Minimises risk of fall throughs
Secure It Now Exclusivity Package - How does it work?
You can now secure the purchase with a buyer’s “Secure It Now Exclusivity Agreement. By entering into the exclusivity agreement and paying the Exclusivity Fee, this buys :
• A legally binding contract granting the buyer exclusive rights to purchase the property within a given timeframe (usually 56 days / 8 weeks, however please confirm seller’s required timescale)
• 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
• 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 / Carry out your due diligence/ Ask questions/ Get legal/ financial advice if required.
Step 3 - Arrange a viewing / Virtual Tour (If you require a viewing. If you do not require a viewing and offer without a viewing, you are doing so at your own risk)
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 -
Important notes
Buyers should carry out their own due diligence/ investigations and if required seek independent legal/ financial advice.
The Exclusivity fee is a non-refundable fee and unless otherwise stated and agreed in the special conditions of the Exclusivity Agreement, this is unconditional, not subject to survey or valuation, lending or anything else. The fee is not subject to a cooling off period and is non-refundable save in accordance with the terms stated in the exclusivity agreement
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.
In accordance with Section 21 of the Estate Agents Act 1979 an interest is declared in that the vendor of the property is a director of THE ONLINE PROPERTY AGENCY LTD
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.
For more information about this property, please contact
The Online Property Agency, B1 on +44 121 659 2987 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by The Online Property Agency, and do not constitute property particulars. Please contact The Online Property Agency for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.