2 bedroom flat for sale

£229,950

2

Bedrooms

2

Bathrooms

Cavernous two bedroom, two washroom apartment in the popular Avoca complex with two secure parking spaces and a large roof terrace located in the up and coming Digbeth area with close proximity to Birmingham city centre.

Arkade Property is delighted to offer this extraordinary apartment for sale. This property is, quite simply, cavernous, boasting approximately 100 square metres of internal floor space and, in addition, it benefits from a large roof terrace and, most unusually, two secure car parking spaces. Internally it ticks all of the boxes with two, large, double bedrooms (one with an en-suite), a spacious living/dining area incorporating a fully fitted kitchen area and a guest bathroom. The property also benefits from electric heating and double glazed windows throughout.

In addition to the plethora of excellent features this property has to offer, its location is very central, only a short walk to the high quality amenities that Englands second city has to offer and in the heart of the up and coming Digbeth area which is benefitting from a number of innovative regeneration schemes. Birmingham City Council has approved proposals to regenerate a 17 hectare swathe of the historically industrial Digbeth area with 1,850 new homes, 200,000 sq m of commercial space, new shops, restaurants and leisure facilities. Proposals even include a feature "Sky Park" by turning a Victorian railway viaduct into a high-level park and opening up a previously-hidden stretch of the River Rea. There are also proposals to regenerate the nearby vibrant and cosmopolitan Custard Factory which currently houses bars, restaurants and an excellent cinema. This will be the place to live and future property values will reflect this (agents opinion).

One does not have to extol the virtues of being so close to the city centre which offers the world famous Bull Ring shopping centre, the Mailbox and numerous bars, restaurants and theatres. Broad Street and Brindley Place are within walking distance and here one will find the regenerated canal system, more high quality restaurants and theatres, the Sea Life Centre, the National Indoor Arena, the International Convention Centre and Symphony Hall, the home of the City of Birmingham Symphony Orchestra. Local sporting and recreational facilities include Edgbaston Golf Club, the Warwickshire County Cricket Ground, Edgbaston Priory Tennis Club and the Botanical Gardens. The property also offers easy access to the main commercial, the M6, Snow Hill Station, the Metro link and Grand Central Station and regular trains from here operate to London and Birmingham International for the nec and Birmingham International Airport. Birmingham is an excellent location for overseas and domestic investment being centrally located, young and vibrant. It is home to the strongest economy outside London and is the subject of large-scale infrastructure projects from the 550 million Grand Central development to the 1.5 billion Smithfield regeneration. Also, with work underway on HS2, one of Europes most exciting rail projects, Englands second city is becoming a most attractive place to live and invest in.

Hallway Entry to the property is on the first floor via the front door. The flooring is wood effect laminate and the walls are painted grey. The hall has three ceiling lights, a smoke alarm, a storage heater, entry phone and a wall socket. There are also two cupboards one of which houses the fuse box. From the hallway doors lead to all rooms.

Living room 20 0" x 17 7" (6.12m x 5.38m) This is an expansive, dual aspect living room with wood effect laminate flooring and grey painted walls. The room is lit by double glazed windows on two walls, some of which allow access out onto the paved terrace area. There are two storage heaters, six wall sockets, TV and phone points and twelve spot lights. From the corner of the room there is access into the kitchen.

Kitchen 10 4" x 10 0" (3.16m x 3.05m) Whilst the kitchen is partially open into the living space it has a separate feel to it. There is lino flooring and tiled walls to the surround above the black marble effect worktop. There are wooden effect base and wall units which incorporate the sink and draining board, the oven, four ring hob and extractor fan. There are six wall sockets, six spotlights, a ceiling extractor and double glazed windows.

Main bedroom 15 10" x 12 4" (4.85m x 3.77m) The main bedroom is both well sized, and well lit from the full length double glazed window. The flooring is carpeted and the walls are painted white. There are four wall sockets and a ceiling light.

Ensuite 8 0" x 5 5" (2.44m x 1.66m) Located off the main bedroom this is a modern en-suite with lino flooring and tiled walls to the wet areas. There are three spot lights, a grey shelf, wall mounted mirror and a wall mounted heater. There is a fitted shower cubicle with wall mounted shower, a toilet and a sink.

Second bedroom 12 2" x 9 9" (3.73m x 2.99m) This is another double bedroom and has carpeted flooring and white painted walls. There is a double glazed window, four wall sockets, a ceiling light and a slimline heater.

Bathroom 7 5" x 6 5" (2.27m x 1.98m) The main bathroom has lino flooring and tiled walls to the wet areas. There is an extractor fan, a fitted sink, toilet and bath tub. There are also three spotlights, a shaving socket, wall mounted heater and an extractor fan.

Tenure
Arkade Property has been verbally advised that the property is leasehold with 107 years remaining.

Arkade Property has been verbally advised that the ground rent is 200 per annum and the service charge is approximately 3420 per annum. Arkade Property cannot confirm these figures.

Mains electricity, drainage and water are connected to the property. These have not been tested so no guarantee can be given that they are in working order. The heating system is based on a comfort heating system.

Misrepresentation Act 1967. These details are prepared as a general guide only and must not be relied on as a basis to enter legal binding obligations. A prospective purchaser should rely upon his/her own inspection, surveyor and/or solicitor before any expenditure or legal commitment. If a prospective purchaser does wish to rely upon these particulars Arkade Property would be happy to provide specific written verification. Verbal representation will be made in good faith but cannot be relied upon. Subjective comments in these particulars are the opinion of Arkade Property only.

Arkade Property has not tested any apparatus, equipment, fixtures, fittings or services and do not warrant that they are in good working order. The prospective purchasers solicitor must ensure that these are owned by the seller and not subject to hire purchase or other conditional sale agreement.

Arkade Property has not checked legal documentation and the solicitor should verify the tenure of the property and all restrictive and other covenants. Measurements and distances are approximate and for guidance only. Please note that where rooms are irregular, only the maximum dimensions are given.

Local Authority: Birmingham City Council

Arkade Property would be happy to carry out a free valuation and selling appraisal of your property without obligation

If you would like to let out your property or rent a property, please contact our Lettings Department

Arkade Property has a commercial department, which would be pleased to provide advice and assistance in respect of business sales and purchases, finding tenants, rent reviews and the creation of new leases in respect of commercial premises.

Mortgage Advice: We would be happy to refer any enquiries concerning a mortgage to specialist independent consultants.



Features
  • Freehold

Nearest Stations:

0.2 miles
Birmingham Bordesley
0.69 miles
Birmingham Moor Street
0.88 miles
Birmingham New Street
1.1 miles
Small Heath
1.1 miles
Birmingham Snow Hill

Mortgage Calculator

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 )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 180911.25

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

Cost of Purchase

£
  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 5748.75
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

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.

Annual Costs

£ 8448.75
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

Adjust these figures

  %
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£
  %

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.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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