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£525,000 Offers in excess of
Bedrooms
Bathrooms
This freehold block of apartments in Wilnecote presents an excellent investment opportunity, offering a mix of two one-bedroom apartments and two two-bedroom apartments. Completed in 2022, the property benefits from a modern, high-quality finish and comes with the reassurance of a new build warranty, making it a secure and low-maintenance investment for the future owner.
The freehold title includes one car parking space per apartment, providing tenants with convenient off-road parking. Each apartment is currently let on Assured Shorthold Tenancy Agreements, with three of the four apartments occupied on unfurnished terms. The one-bedroom apartments are generating 725 per month each, while the two-bedroom apartments are achieving 750 per month. This brings a total gross rental income of 2,950 per calendar month, or 35,400 per annum.
The property also offers future potential for increased rental income, particularly with the opportunity to let the final available apartment and adjust rents in line with market demand. A small staircase leads to the top-floor apartments, adding a unique touch to the propertys layout, with the staircase powered by a landlord supply for efficiency and ease of maintenance.
Located just a short drive from Tamworth town centre, the property benefits from a prime location with excellent transport links, making it highly attractive to tenants. The apartments are modern, spacious, and well-designed, perfectly suited for professionals and families alike, ensuring a steady demand for rental opportunities.
With its strong current rental returns, the potential for growth, and its convenient and desirable location, this property represents a highly attractive investment for anyone looking to expand their portfolio in the thriving Wilnecote area.
Apartment 1 and 2 hold a EPC value of a B and Apartment 3 & 4 hold an EPC value of a C.
The internal floor space for each apartment is as following: -
Apartment 1 - 505 sqft
Apartment 2 - 462 sqft
Apartment 3 - 548 sqft
Apartment 4 - 462 sqft
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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