2 Bed Flat, Cash/Bridging Only, B1 1UE, £100,000

Cleveland Tower, Birmingham, B1, B1 1UE - 15 views - 3 months ago

Leasehold
Cash
~68 m²
+4 photos

ValuationUndervalued

Sold Prices£30K - £500K
Sold Prices/m²£724/m² - £4.5K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.5K/m²

Value Estimate

£103,000
BMV3%

 

 

End Value (After Refurb)

£220,747

Uplift in Value

+121%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£25,000

Stamp Duty & Legal Fees

£4,200

Refurb Costs

£26,792

Bridging Loan Interest

£2,625

Total Cash In

£60,367

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£220,747

Agent Fees (1%)

£2,207

Bridging Loan

£75,000

Bridging Loan Interest

£2,625

Flip Profit

£83,173

Local Sold Prices

27 sold prices from £30K to £500K, average is £153.5K. £724/m² to £4.5K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£150K02/230.18 miApartment 290, Southside, St Johns Walk, Birmingham, West Midlands B5 4TL2
£181K02/210.18 miApartment 257, Southside, St Johns Walk, Birmingham, West Midlands B5 4TL2
£160K11/220.18 miApartment 444, Southside, St Johns Walk, Birmingham, West Midlands B5 4TP2
£290K09/210.2 mi123 Royal Arch Apartments, The Mailbox, Wharfside Street, Birmingham, West Midlands B1 1RG2
£235K07/210.34 miApartment 34, Friday Bridge, Berkley Street, Birmingham, West Midlands B1 2LB2
£90K06/210.54 miFlat 10, Crescent Tower, Brindley Drive, Birmingham, West Midlands B1 2NJ2
£100K07/210.55 miFlat 2, Norton Tower, Civic Close, Birmingham, West Midlands B1 2NN2
£182K12/220.56 mi14, Civic Close, Birmingham, West Midlands B1 2NT2
£500K02/210.66 mi28, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LF2
£500K02/210.66 mi28, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LF2
£172K12/200.66 miFlat 17, Edencroft, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LW2
£176K10/220.66 miFlat 15, Edencroft, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LW2
£144.5K09/210.76 mi35, Pakenham Road, Birmingham, West Midlands B15 2NE2
£55K03/210.78 mi28, Horton Square, Birmingham, West Midlands B12 0YR2
£55K03/210.78 mi28, Horton Square, Birmingham, West Midlands B12 0YR2
£130K06/210.79 mi55, Alexandra Road, Birmingham, West Midlands B5 7NJ2
£180K08/210.81 mi9, Bellcroft, Birmingham, West Midlands B16 8EJ2
£244K03/210.87 mi31d, Northwood Street, Birmingham, West Midlands B3 1TX2
£153.5K06/210.87 mi17, Ashton Croft, Birmingham, West Midlands B16 8EX2
£125K12/210.9 mi156, Kilby Avenue, Birmingham, West Midlands B16 8EW2
£103K11/200.9 mi130, Kilby Avenue, Birmingham, West Midlands B16 8EW2
£290K10/220.91 miPenthouse 9, Amazon Lofts, Tenby Street, Birmingham, West Midlands B1 3AJ2
£65K02/230.96 miFlat 77, Elmwood Court, Pershore Road, Birmingham, West Midlands B5 7PB2
£30K10/200.96 miFlat 73, Elmwood Court, Pershore Road, Birmingham, West Midlands B5 7PB2
£120K11/200.96 miFlat 74, Elmwood Court, Pershore Road, Birmingham, West Midlands B5 7PB2
£235K12/220.97 mi110, Viceroy Close, Birmingham, West Midlands B5 7UY2
£120.2K06/220.99 mi25, Royston Croft, Birmingham, West Midlands B12 9DX2

Local Rents

50 rents from £1K/mo to £3.5K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£2,20003/240.03 mi-2
£1,30012/240.03 mi-2
£1,50012/240.03 mi-2
£1,80003/250.03 mi-2
£1,02502/240.05 mi-2
£2,49502/240.06 mi-2
£2,20012/240.06 mi-2
£1,30012/240.06 miThe Axium, Windmill Street, Birmingham, B12
£2,55002/240.06 mi-2
£2,25012/240.06 mi-2
£3,50012/240.06 mi-2
£1,90012/240.06 miDuplex, Beetham Tower, Holloway Circus B1 1BY2
£1,35012/240.06 miBeetham Tower, 10 Holloway Circus Queensway, Birmingham City Centre2
£1,50012/240.06 miBeetham Tower, 10 Holloway Circus B1 1BA2
£1,35012/240.06 miBeetham Tower, 10 Holloway Circus Queensway, Birmingham, B1 1BA2
£1,50012/240.06 miBeetham Tower, 10 Holloway Circus , B1 1BA2
£1,30012/240.07 miAxium Building, Birmingham City Centre2
£1,00004/250.07 mi-2
£1,45012/240.07 miBeetham tower 10 Holloway Circus, B12
£1,90003/250.07 mi-2
£1,35012/240.07 miAxium, 38 Windmill Street, Birmingham, B12
£1,20012/240.07 mi76 Holloway Head, B1 1NG2
£1,35001/250.08 mi-2
£1,35003/250.08 mi-2
£1,22512/240.08 miWindmill Street, Birmingham, B12
£1,30012/240.08 miWindmill Street, Birmingham, B12
£1,50012/240.1 miThe Axium, Windmill Street, Birmingham, B1 1GB2
£2,45002/240.1 mi-2
£3,35003/240.1 mi-2
£3,00006/240.1 mi-2
£2,75003/240.1 mi-2
£2,75012/240.1 mi-2
£3,35012/240.1 mi-2
£3,35012/240.1 mi-2
£3,35012/240.1 mi-2
£3,00001/250.1 mi-2
£1,28004/250.11 mi-2
£1,30004/250.11 mi-2
£1,35003/250.11 mi-2
£1,15012/240.11 miWindmill Street, Birmingham, B12
£1,10012/240.11 miCity Walk, 17 Bow Street, Birmingham, B12
£1,15012/240.11 miSuffolk Street Queensway , B12
£1,40002/240.11 mi-2
£1,40012/240.11 mi-2
£1,40012/240.11 miWindmill Street, Birmingham, B12
£1,40012/240.11 miAxium, 40 Windmill St, Birmingham, B12
£1,50012/240.11 mi-2
£1,40012/240.11 miApartment 418, 40 Windmill Street2
£1,40012/240.11 mi-2
£3,50012/240.11 mi-2

Property History

Listed for £100,000

January 10, 2025

Floor Plans

Description

  • 21st Floor Apartment +
  • Two Spacious Double Bedrooms +
  • Balcony +
  • Tenant Paying £9480 Per Annum +
  • Cash Buyers Only +
  • Excellent Central Location +
  • Grand Central Station A Short Walk Away +
  • Bullring Shopping A Short Walk Away +

Cleveland Tower has long been popular with landlords in Birmingham due to the excellent location a short walk from Grand Central station and the famous Bullring shopping centre. Aside from that the apartments here offer extraordinary rental yields for investors.

The building is accessed via a secure intercom system where there are lifts to all floors from the communal area. This apartment is on the 21st floor of the building which affords spectacular views across the Birmingham skyline.

The apartment itself consists of an entrance hall which leads to all rooms as listed below and also has a storage cupboard.

Lounge: There is a spacious lounge with great views from the window across Pagoda Island and beyond..

Kitchen: The kitchen is fitted with a range of units and there is space for a cooker with an extractor over, a fridge/freezer and a washing machine. There is a window to check out those far reaching views whilst washing up and a pantry cupboard.

Bedroom: A large double bedroom with a window and a door onto the balcony.

Bedroom Two: Another spacious double bedroom with a window.

Bathroom: The bathroom is standard fare with bath and shower over, low level WC and basin.

Heating: The property is centrally heated via radiators.

The property is currently tenanted for £9,480 per annum.

Lease information:

Ground Rent: £10 Per Year
Service Charge: £2063.27 Per Year
Lease Remaining: 82 Years

Council Tax: Band A
Birmingham City Council

Agent Details

The Agency UK, Covering Nationwide

020 3910 6171

Next Steps?

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