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£2,700,000
Hexagon Commercial Property are delighted to present a rare opportunity to acquire a substantial freehold residential investment in the heart of Halesowen Town Centre. The property, known as Civic Chambers and formerly the Halesowen Civic Offices, has been expertly redeveloped into a collection of modern residential units. Blending contemporary living with the character of a historic building, the scheme comprises a mix of apartments, townhouses, and a retail unit, offering a well-balanced and appealing investment. Civic Chambers generates a total annual passing rent of 206,340, with one unit currently vacant-providing an opportunity for rental uplift and future income growth. Based on the asking price of 2,700,000, this reflects a net initial yield of approximately 7.25%. This is a compelling investment offering immediate income, strong underlying asset value, and potential for enhanced returns in a highly accessible town centre location.
A full schedule of all the tenancies and related rents can be provided upon request.
Situated in the vibrant centre of Halesowen, the Civic Chambers benefit from proximity to the pedestrianised shopping area, offering residents easy access to a range of amenities, including shops, cafes, and public transport links. The location is ideal for attracting tenants seeking convenient urban living.
Freehold
The apartments are listed as Council Tax Band A. Payment of the Council Tax is the responsibility of the individual tenants.
We are instructed to seek offers in the region of 2,750,000 for the freehold interest.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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