2 Bed Flat, Planning Permission, Birmingham, B16 8HX, £68,000

Hagley Road, Birmingham, West Midlands, B16 8HX - 5 views - a year ago

Sold STC
Leasehold
Auction
Planning
ROI: 29%
~68 m²
+4 photos

ValuationUndervalued

Sold Prices£90K - £500K
Sold Prices/m²£1.3K/m² - £4.5K/m²

 

 

Square Metres

~68.11 m²
Price/m²£998/m²

Value Estimate

£84,320
BMV24%

Investment Opportunity

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£17,000

Stamp Duty & Legal Fees

£4,600

Total Cash In

£21,600

 

 

Cash Out

 

Rent Range

£975 - £3,600

Rent Estimate

£943

Running Costs/mo

£421

Cashflow/mo

£522

Cashflow/yr

£6,263

ROI

29%

Gross Yield

17%

Local Sold Prices

20 sold prices from £90K to £500K, average is £178K. £1.3K/m² to £4.5K/m², average is £2.7K/m².

PriceDateDistanceAddressBeds 
£180K08/210.32 mi9, Bellcroft, Birmingham, West Midlands B16 8EJ2
£153.5K06/210.33 mi17, Ashton Croft, Birmingham, West Midlands B16 8EX2
£500K02/210.41 mi28, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LF2
£500K02/210.41 mi28, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LF2
£172K12/200.41 miFlat 17, Edencroft, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LW2
£176K10/220.41 miFlat 15, Edencroft, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LW2
£125K12/210.46 mi156, Kilby Avenue, Birmingham, West Midlands B16 8EW2
£103K11/200.46 mi130, Kilby Avenue, Birmingham, West Midlands B16 8EW2
£235K07/210.47 miApartment 34, Friday Bridge, Berkley Street, Birmingham, West Midlands B1 2LB2
£182K12/220.56 mi14, Civic Close, Birmingham, West Midlands B1 2NT2
£144.5K09/210.58 mi35, Pakenham Road, Birmingham, West Midlands B15 2NE2
£100K07/210.6 miFlat 2, Norton Tower, Civic Close, Birmingham, West Midlands B1 2NN2
£290K09/210.61 mi123 Royal Arch Apartments, The Mailbox, Wharfside Street, Birmingham, West Midlands B1 1RG2
£90K06/210.64 miFlat 10, Crescent Tower, Brindley Drive, Birmingham, West Midlands B1 2NJ2
£290K10/220.88 miPenthouse 9, Amazon Lofts, Tenby Street, Birmingham, West Midlands B1 3AJ2
£220K08/210.91 miFlat 64, Chadbrook Crest, Richmond Hill Road, Birmingham, West Midlands B15 3RN2
£150K02/230.93 miApartment 290, Southside, St Johns Walk, Birmingham, West Midlands B5 4TL2
£181K02/210.93 miApartment 257, Southside, St Johns Walk, Birmingham, West Midlands B5 4TL2
£160K11/220.93 miApartment 444, Southside, St Johns Walk, Birmingham, West Midlands B5 4TP2
£235K12/221 mi110, Viceroy Close, Birmingham, West Midlands B5 7UY2

Local Rents

50 rents from £975/mo to £3.6K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£1,05012/240 miMetropolitan House, 1 Hagley Road, Birmingham, B162
£1,10012/240 miMetropolitan House, 1 Hagley Road, Birmingham, B162
£2,20012/240 miHagley Road, Birmingham2
£1,05012/240 miMetropolitan House, 1 Hagley Road, Birmingham, B16 8HU2
£97512/240 miHagley Road2
£2,20512/240 mi-2
£1,05004/250 mi-2
£99503/250 mi-2
£1,30004/250 mi-2
£1,00012/240.03 mi1 Hagley Road, Five Ways, B162
£1,77512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FZ2
£1,51512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FU2
£1,54512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FU2
£1,57512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FY2
£1,53512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FY2
£1,59512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FY2
£1,59012/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FZ2
£1,58512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FU2
£1,77512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FZ2
£1,60012/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FZ2
£1,65012/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FZ2
£1,59512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FY2
£1,47512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FY2
£1,77512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FZ2
£1,59512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FY2
£1,65012/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FZ2
£1,47512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FY2
£1,47512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FY2
£1,49512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FU2
£1,53512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FY2
£1,59012/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FZ2
£1,47512/240.03 miThe Lansdowne, 25 Hagley Road, Birmingham, B16 8FY2
£1,05012/240.04 mi1 Hagley Road, Five Ways, B162
£1,15012/240.08 miBroadway Residences, Broad Street, Birmingham, B152
£1,25012/240.08 miBroadway Residences, 105 Broad Street, Birmingham, West Midlands, B152
£1,35012/240.08 miBroadway Residences, 165 Broad Street, Birmingham, West Midlands, B152
£1,20012/240.08 miBroadway Residences, 105 Broad Street, Birmingham, West Midlands, B152
£1,17512/240.08 miBroadway Residences, 165 Broad Street, Birmingham, West Midlands, B152
£1,25012/240.08 miBroadway Residences, 165 Broad Street, Birmingham, West Midlands, B152
£1,20012/240.08 miBroadway Residences, 165 Broad Street, Birmingham, West Midlands, B152
£1,25012/240.08 miBroadway Residences, 165 Broad Street, Birmingham, West Midlands, B152
£1,25012/240.08 miBroadway Residences, 165 Broad Street, Birmingham, West Midlands, B152
£1,25012/240.08 mi Broadway Residences Broad Street, Birmingham2
£1,10012/240.08 miBroadway Residences, 105 Broad Street, Birmingham, B152
£1,50012/240.08 mi-2
£1,50012/240.08 mi-2
£1,05012/240.09 miThe Purple Apartments, 219 Ladywood Middleway, Birmingham, B162
£1,25012/240.09 miBroadway Residences, 165 Broad Street, Birmingham, West Midlands, B152
£3,60003/250.09 mi-2
£3,60003/250.09 mi-2

Local Area Statistics

Population in B16

23,618

Population in Birmingham

1,034,821

Town centre distance

1.77 miles away

Nearest school

0.30 miles away

Nearest train station

0.35 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-17%

Sales demand

Buyer's market

Capital growth (5yrs)

+27%

Property History

Price changed to £68,000

March 12, 2025

Price changed to £81,000

February 12, 2025

Price changed to £100,000

December 4, 2024

Price changed to £120,000

September 26, 2024

Listed for £150,000

February 9, 2024

Floor Plans

Description

  • Thirteenth floor with lift +
  • Two double bedrooms +
  • Concierge Service +
  • No upward chain +
  • Modern throughout +
  • EPC Rating - D +
  • Council Tax Band - D +
  • Subject to Reserve Price +
  • Sold by Modern Auction +
  • Buyer Fees Apply +

* For Sale by Modern Auction – T & C’s apply *

A superbly presented upper floor apartment located within Birmingham City Centre, offering convenient access to amenities and transport links.

This beautifully presented two bedroom apartment is located within the prestigious Metropolitan House development. Benefitting from allocated parking and concierge.

Arriving at the entrance you are greeted by a large communal area with secure intercom system to gain access into the block. Situated on the thirteenth floor, walk out of the lift and enter into the apartment into the spacious hallway.

The generous open plan living space really is the heart of this home. Offering lounge and dining area with modern fitted kitchen flowing directly off this space with integrated appliances.

There are two double bedrooms with further laminate flooring, ample storage and further light omitting windows. The bathroom is located off the entrance hallway and is tiled throughout offering bath with shower over, w.c and wash hand basin.

This stunning apartment is ideal for somebody that is looking for a ready-made investment or first-time buyers looking for their next turn key home.

Council Tax Band: D
Tenure: Leasehold
Service Charge: £3,868.94 pa
Ground Rent: £300 pa
Ground Rent Review Period: Every 5 years
Ground Rent Review Amount: Increased by multipying the Base Rent by the All Items index value of the RPI for the month two months before the month in which the relevant Review Date falls, then dividing the product by the All Index value of the RPI for the Base RPI Month
Next Ground Rent Review: 01/03/2025
Parking Arrangements: One allocated parking space
Property Construction: TBC
Electricity Supply: Mains
Water Supply: Mains
Sewerage: Mains
Heating Supply: Electric
Broadband: Refer to Ofcom
Mobile Signal Coverage: No known issues Building Safety Issues: None
Restrictions: None
Rights And Easements: None
Flood Risks Or Previous Flooding: No
Past Or Present Planning Permissions Or Applications: No
Is the property located in a Coalfield Or Mining Area: No

AGENTS NOTE: We have not tested any of the electrical, central heating or sanitaryware appliances. Purchasers should make their own investigations as to the workings of the relevant items. Floor plans are for identification purposes only and not to scale. All room measurements and mileages quoted in these sales particulars are approximate. In line with The Money Laundering Regulations 2007 we are duty bound to carry out due diligence on all our clients to confirm their identity. Rather than traditional methods in which you would have to produce multiple utility bills and a photographic ID we use an electronic verification system. This system allows us to verify you from basic details using electronic data, however it is not a credit check of any kind so will have no effect on you or your credit history.

FIXTURES AND FITTINGS: All those items mentioned in these particulars by way of fixtures and fittings are deemed to be included in the sale price. Others, if any, are excluded. However, we would always advise that this is confirmed by the purchaser at the point of offer.

Auctioneer Comments

This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56 Day Reservation Period. Interested parties’ personal data will be shared with the Auctioneer (iamsold Ltd).

If considering a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information Pack is provided, which you must view before bidding. The buyer is responsible for the Pack fee. For the most recent information on the Buyer Information Pack fee, please contact the iamsold team.

The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase price inc VAT, subject to a minimum of £6,600 inc. VAT. This Fee is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty.

Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £960 inc. VAT. These services are optional.

Agent Details

John Shepherd, Birmingham

0121 387 6483

Next Steps?

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