9 bed Block of Apartments

DESCRIPTION James Laurence is proud to present a fantastic investment opportunity; six fully-let apartments in the former Rossmore Hotel. This distinctive and historic building comprises six fully occupied apartments and is located on Gravelly Hill North in Erdington - A prime spot for investors seeking an immediate and reliable income stream. Given it's prominent location and generous size, this property offers a lot of growth potential, ideally located circa five-minutes walk from Gravelly Hill train station and circa ten minutes walk from Erdington Town Centre. Property Overview:- - The ground floor comprises a communal entrance and corridor with access to the shared basement space, with a two-bedroom and one-bedroom apartment. The first floor features a shared landing with a two-bedroom and one-bedroom apartment off, and stairs leading to the second floor which has two one-bedroom apartments. - Annual income: Currently generating £39,000 per annum with full occupancy and tenancy agreements in place, there is scope to increase the income if cosmetic improvements are undertaken. - Amenities to tenants: There is off-road parking with six designated spaces to the front of the property, there is a spacious shared garden to the rear of the property which could be an avenue to extend the internal accommodation. Inside, there is a basement space offering a communal storage area for tenants. Investment Opportunities:- - Steady income stream: Fully tenanted, with a robust annual income of £39,000 - Perfect for investors seeking a reliable cash flow. - Immediate returns and compliance: Each apartment is fully compliant with safety certificates and landlord regulations. - Growth Potential - Opportunities for modernization within the building, or to extend to the rear of the plot could add value and increase the rental income significantly. - Prime location - Given the property's location with fantastic rail and road links into Birmingham City Centre this property is perfectly located to attract commuters into Birmingham's thriving CBD. This is a great investment opportunity for savvy property investors looking to expand their portfolio with a property LOCATION Erdington is a lively suburb located just a few miles northeast of Birmingham city centre, offering a perfect blend of urban convenience and suburban charm. Known for its rich history and diverse community, Erdington boasts a range of amenities, making it an ideal place to live. Transport Links: Erdington is well-connected by public transport, with frequent bus services and a railway station that provides easy access to Birmingham and surrounding areas. The proximity to major roadways, including the A38 and M5/M6 motorways, makes commuting a breeze for those traveling to the city or beyond. Amenities: The area is home to a variety of shops, cafes, and restaurants, ensuring that residents have everything they need right at their doorstep. Erdington High Street offers a mix of local businesses and well-known retailers, while nearby parks and recreational spaces provide opportunities for outdoor activities. Auctioneer comments This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold). If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding. The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax. Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.