In a major suburban area of Birmingham, a property is set to be auctioned publicly at Bond Wolfe's auction, attracting widespread interest from investors and property developers alike. Located at 285 Harborne Lane, this property comprises five separate apartments, generating a total annual rental income close to £40,000, making it a focal point of this auction.
These apartments enjoy a prime location near the Queen Elizabeth Hospital and the University of Birmingham, within walking distance to Selly Oak and University train stations, providing convenient access to Birmingham city center and other areas. With a guide price exceeding £325,000, reflecting the property's stable rental income and strategic geographic advantage.
Originally a large residential property, it was converted into the current five independent apartment units in 2008. Each apartment commands monthly rents ranging from £725 to £750, totaling approximately £39,840 annually, showcasing strong performance and attractiveness in the rental market. The apartments are equipped with double-glazed windows, gas central heating systems, and each unit has already covered council taxes and water bills, ensuring future management convenience and cost control.
propertywire.com
The structure of the property features unique design elements, with each apartment offering spacious living rooms, fully equipped modern kitchens, comfortable bedrooms, and modern bathroom facilities. A communal entrance on the ground floor leads to the five independent units, some of which also feature separate shower rooms, enhancing residential comfort and convenience. Two apartments share a beautiful communal garden, adding a unique sense of community and pleasant living experience.
James Rossiter, Senior Auction Appraiser at Bond Wolfe, expresses confidence in this auction, identifying it as a highly attractive investment opportunity. He notes that such properties are particularly ideal for investors looking to expand their property investment portfolios, especially in sought-after areas like Harborne.
The auction is scheduled to commence at 8:30 AM on Thursday, July 11th, and is expected to draw a large number of potential investors and developers bidding. These independent apartments not only provide stable rental income but also offer potential for increased asset value through further management and refurbishment, making them a premium choice for long-term investment.
