3 Bed Detached House, Refurb/BRRR, Birmingham, B17 8PE, £625,000

89 GILLHURST ROAD, HARBORNE, BIRMINGHAM B17 8PE - 2 years ago

Sold STC
Refurb/BRRR
130 m²
+16 photos

ValuationOvervalued

Sold Prices£239K - £725K
Sold Prices/m²£2.9K/m² - £6K/m²

 

 

Square Metres

130 m²
Price/m²£4.8K/m²

Value Estimate

£601,570

 

 

End Value (After Refurb)

£615,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£156,250

Stamp Duty & Legal Fees

£38,700

Refurb Costs

£51,334

Bridging Loan Interest

£16,406

Total Cash In

£264,440

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£615,000

Mortgage (After Refinance)

£461,250

Mortgage LTV

75%

Cash Left In

£264,440

Equity

£153,750

Rent Range

£975 - £2,300

Rent Estimate

£1,555

Running Costs/mo

£2,253

Cashflow/mo

£-698

Cashflow/yr

£-8,374

Gross Yield

3%

Local Sold Prices

50 sold prices from £239K to £725K, average is £490K. £2.9K/m² to £6K/m², average is £4.8K/m².

PriceDateDistanceAddressBeds 
£389K09/210.11 mi140, Ravenhurst Road, Harborne, Birmingham, West Midlands B17 9HS3
£462K08/210.11 mi139, Gillhurst Road, Birmingham, West Midlands B17 8PG3
£551K06/210.12 mi61, Pereira Road, Birmingham, West Midlands B17 9JB3
£450K10/200.12 mi45, Pereira Road, Birmingham, West Midlands B17 9JB3
£560K06/230.15 mi140, Knightlow Road, Harborne, Birmingham, West Midlands B17 8QA3
£585K03/210.15 mi152, Knightlow Road, Harborne, Birmingham, West Midlands B17 8QA3
£500K10/200.18 mi44, High Brow, Harborne, Birmingham, West Midlands B17 9EN3
£478K02/210.18 mi30, High Brow, Harborne, Birmingham, West Midlands B17 9EN3
£550K02/230.19 mi38, High Brow, Harborne, Birmingham, West Midlands B17 9EN3
£435K01/210.19 mi23, North Gate, Birmingham, West Midlands B17 9EP3
£535K01/230.19 mi30, North Gate, Birmingham, West Midlands B17 9EP3
£430K02/210.19 mi21, North Gate, Birmingham, West Midlands B17 9EP3
£470K01/210.2 mi23, High Brow, Harborne, Birmingham, West Midlands B17 9EW3
£360K03/210.2 mi31, High Brow, Harborne, Birmingham, West Midlands B17 9EW3
£615K09/210.22 mi55, Knightlow Road, Harborne, Birmingham, West Midlands B17 8PX3
£580K03/210.22 mi115, Knightlow Road, Harborne, Birmingham, West Midlands B17 8PX3
£505K03/210.25 mi19, Margaret Grove, Birmingham, West Midlands B17 9JJ3
£490K03/210.25 mi7, Margaret Grove, Birmingham, West Midlands B17 9JJ3
£445K11/200.25 mi1, Margaret Grove, Birmingham, West Midlands B17 9JJ3
£372K07/230.25 mi15, Margaret Grove, Birmingham, West Midlands B17 9JJ3
£452K03/210.28 mi37, Ellesboro Road, Birmingham, West Midlands B17 8PU3
£530K03/230.28 mi33, Ellesboro Road, Birmingham, West Midlands B17 8PU3
£490K06/210.28 mi44, Carless Avenue, Harborne, Birmingham, West Midlands B17 9BW3
£539K12/220.29 mi17, Carless Avenue, Harborne, Birmingham, West Midlands B17 9BN3
£572.5K06/210.29 mi26, Margaret Grove, Birmingham, West Midlands B17 9JH3
£510K11/200.29 mi32, Margaret Grove, Birmingham, West Midlands B17 9JH3
£425K12/220.3 mi61, Moor Pool Avenue, Birmingham, West Midlands B17 9DS3
£405K04/210.3 mi67, Moor Pool Avenue, Birmingham, West Midlands B17 9DS3
£520K07/230.31 mi22, Moor Pool Avenue, Birmingham, West Midlands B17 9HN3
£396K11/220.31 mi10, Moor Pool Avenue, Birmingham, West Midlands B17 9HN3
£560K11/200.31 mi34, Moor Pool Avenue, Birmingham, West Midlands B17 9HN3
£478K01/210.31 mi38, Moor Pool Avenue, Birmingham, West Midlands B17 9HN3
£620K11/220.32 mi42, Carless Avenue, Harborne, Birmingham, West Midlands B17 9BW3
£575K07/230.32 mi66, Carless Avenue, Harborne, Birmingham, West Midlands B17 9BW3
£510K06/210.32 mi40, Carless Avenue, Harborne, Birmingham, West Midlands B17 9BW3
£499.9K02/210.32 mi21, Moor Pool Avenue, Birmingham, West Midlands B17 9HL3
£495K05/210.32 mi39, Moor Pool Avenue, Birmingham, West Midlands B17 9HL3
£485K03/210.37 mi80, Wentworth Road, Harborne, Birmingham, West Midlands B17 9SY3
£460K06/210.38 mi75, Park Hill Road, Harborne, Birmingham, West Midlands B17 9HH3
£239K06/210.39 mi24, Hermitage Road, Edgbaston, Birmingham, West Midlands B15 3UR3
£239K06/210.4 mi24, Hermitage Road, Edgbaston, Birmingham, West Midlands B15 3UR3
£575K05/210.42 mi145, Park Hill Road, Harborne, Birmingham, West Midlands B17 9HE3
£383K03/210.42 mi151, Park Hill Road, Harborne, Birmingham, West Midlands B17 9HE3
£437.5K01/210.42 mi159, Park Hill Road, Harborne, Birmingham, West Midlands B17 9HE3
£560K02/210.43 mi41, Park Hill Road, Harborne, Birmingham, West Midlands B17 9SJ3
£500K02/230.43 mi132, Park Hill Road, Harborne, Birmingham, West Midlands B17 9HD3
£725K04/230.45 mi25, Crosbie Road, Birmingham, West Midlands B17 9BG3
£430K03/230.45 mi129a, Lordswood Road, Birmingham, West Midlands B17 9BH3
£430K06/210.45 mi49, Wentworth Park Avenue, Harborne, Birmingham, West Midlands B17 9QU3
£370K10/200.45 mi4, Wentworth Park Avenue, Harborne, Birmingham, West Midlands B17 9QU3

Local Rents

21 rents from £975/mo to £2.3K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,15012/240.25 miThe Circle, Birmingham3
£1,55012/240.39 miAugustus Road, Edgbaston, B153
£97511/240.4 mi-3
£1,50012/240.41 miPark Hill Road, Harborne, B173
£1,15003/250.46 mi-3
£1,15004/250.46 mi-3
£1,30012/240.49 miGordon Road, Harborne, Birmingham3
£1,45012/240.49 mi-3
£1,45012/240.49 miGordon Road, Birmingham, B173
£1,45012/240.49 miGordon Road, Birmingham, B173
£1,60012/240.5 miStation Road, Harborne, Birmingham, B17 9LX3
£1,49912/240.51 miMelville Hall, Holly Road, Birmingham, B163
£1,60004/250.52 mi-3
£1,15002/250.52 mi-3
£1,40004/250.54 mi-3
£1,50612/240.54 miCourt Oak Road, Birmingham3
£1,42512/240.55 miRegent Road, Harborne, Birmingham, B17 9JU3
£1,65012/240.55 miRegent Road, Harborne, Birmingham, B17 9JU3
£1,75012/240.58 miHigh Street, Harborne, Birmingham, West Midlands, B17 9QG3
£2,30012/240.6 miGreenfield Road, Harborne, Birmingham, B17 0ES3
£1,75012/240.6 miHarborne Square, Weather Oaks, Harborne3

Local Area Statistics

Population in B17

25,625

Population in Birmingham

1,034,821

Town centre distance

3.19 miles away

Nearest school

0.40 miles away

Nearest train station

1.36 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+14%

Sales demand

Balanced market

Capital growth (5yrs)

-2%

Property History

Listed for £625,000

August 5, 2023

Floor Plans

Description

A unique detached 3 bedroomed property in an extremely desirable location and occupying a fabulous south-facing plot with elevated tree-lined views.

Situation

The property is situated on Gillhurst Road, close to its junction with Pereira Road and Knightlow Road. Harborne's vibrant and bustling High Street is around a mile away and offers excellent local and convenience shopping as well as numerous coffee shops, pubs and restaurants.

Birmingham City Centre lies some three miles to the east whilst access to the Midland's motorway network can be easily found via junction 3 of the M5 which is less than four miles away or via Junction 6 of the M6 which is approximately six miles distant.

Lordswood Girls and Boys schools are both within half a mile of the property, whilst Harborne Primary School is just over half a mile away.

Description

89 Gillhurst Road is a modern detached property with flexible accommodation over two floors. The property would benefit from some general modernisation but offers exceptional potential to create a fantastic individual home. The existing accommodation is already an excellent size, but with a lovely wide plot the property offers exciting potential to be further extended if desired (subject to any necessary consents).

The property is entered via an enclosed entrance porch with carved wood inner front door leading into the hallway. There are two reception rooms, including a lovely spacious and bright living room with a large window and patio doors providing panoramic views of the garden. An open-tread staircase to the rear of the living room leads up to the first floor bedroom. The second reception room is a good-sized dining room with pleasant views of the garden and beyond via a low-level window. Adjacent to the dining room is the fitted kitchen, beyond which is the utility room with access to the garden and garage.

There are two front-facing ground floor double bedrooms, both with fitted wardrobes which are served by a house bathroom with separate WC adjacent.

On the first floor is a superb double bedroom with large dormer window providing wonderful far reaching views to the rear. There are fitted wardrobes to one wall and a door off the bedroom leads through to an en suite shower room.

Outside

The property has an exceptionally wide frontage including a lawned area with planted beds, and driveway parking for two to three cars. The integral garage provides additional parking or storage if preferred. To the rear of the house is a most delightful south-facing garden which enjoys elevated views across an area of private woodland and beyond. The garden includes a large raised patio spanning the full width of the property and with a summer house to one side, beyond which is a manicured lawn with mature shrubs and trees. The garden wraps around to the side of the house where there is an area of hard- standing and two timber sheds.

General Information

Tenure: The property is understood to be freehold.

Council Tax: Band F

Services: Gas and electricity are connected. The property has gas fired central heating.

Published August 2023

Agent Details

Robert Powell, Birmingham

0121 387 6392

Next Steps?

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