The owner of this fantastic 18th Century Grade II listed building has asked us to source an investor buyer for this impresive property....
New Lower Price..
Subject to certain conditions, the vendor offers a one off sale price of £1.075m saving an additional £125,000. This £125,000 can also be in the form of a cashback if required. £625K INSTANT EQUITY.
PRICE REDUCED FOR QUICK COMPLETION... Lender now states...
If an IMMEDIATE buyer can be found who;
1. Is willing to do an immediate survey with next 48 hours we receive confirmation
2. Will pay a non refundable lock down fee of £11,000 is paid I.e £1k per unit
3. Exchange to be within 10 working days upon receipt of contract
4. Completion 7 days thereafter
If the above we satisfied for a buyer now I would offer a one off sale price of £1.075m saving an additional £125,000. This £125,000 can also be in the form of a cashback if required.
Pls advise if you do have anyone who is prepared to move quickly - if not no worries then we'll just progress as previously discussed at £1.2m levels
Freehold Conversion of a privately located GRADE II listed building into 11 apartments.
Refurbished during 2008/9.
The site comprises of:-
6 x 2 bedroom apartments
5 x 1 bedroom apartments
Of the 11 apartments there are in total 4 maisonettes with individual front door entrances.
Two garages are included within the sale.
Each property has allocated parking
All flats currently tenanted producing rental income of £5,970 pcm. (Yield may not be great but rents have not been revised for quite some time and the new nowner could no douibt improve upon this...).
Excellent rental area of Birmingham with good access to M5 & M6.
Finders Fee for this deal is only 1% of net price, payable on completion. (No Up-Front Fees).
Interested parties will need to contact me on this one: Initially email me at: steve@bmvpropertysolutions.co.uk
THREE WAYS TO PROFIT ON THIS PROPERTY...
1) Buy at 29.4% BMV for £1.075M. (value £1.7M).
2) Whole property could be split into 11 Leasehold Flats by the new owner which would no doubt create a substantially increased total value.
3) After no. 2 above, Owner would retain the Freehold Interest and take a substantial regular income from the Leasehold Ground Rents.
Photo's below..
