* Cash Buyers Only
* Close To The Bullring, Arcadian Centre & HS2
* Furniture Included Within The Price
* Rental Income Of £700pcm (6% yield)
* Long Term Tenancy Agreement Until 2025
* Low Service Charge & Ground Rent
* Juliette Balcony
Rental income of £700PCM (6% yield). Tenanted by a serviced apartment company,
Premier Suites with tenancy agreement until 2025. This 3rd floor apartment
benefits from having a juliette balcony, low service charge and ground rent.
Cash buyers only! This 1 bed apartment with Juliette balcony is on the 3rd
floor of Dean House. Property investment opportunities like this don't come
along often. Purchase this well presented City Centre pad which is within
minutes walk to the Bullring and have the money roll in from day one. For
those of you that are not so familiar with the area, then it is worth noting
that Dean House is located within walking distance to the planned HS2 train
station at Curzon Street, as well as New Street and Moor Street Stations. The
development is also located right within the heart of the area which will
become known as Birmingham Smithfield, which is undergoing one of the largest
City Centre regeneration schemes in history worth over £500 million. So if
you're looking for capital growth then this could prove to be a sound
investment.
Now for the numbers. . . The apartment is currently leased out to Premier Suites
who are an established serviced apartment company who operate worldwide and
have been renting the apartment since it was built in 2006. Premier Suites
have guaranteed a rent of £700 pcm, which gives a 6% yield. There are rent
increases of 2% in 2022 and 2024. The current contract with Premier Suites
runs until September 2025 when a new agreement can then be negotiated. Premier
Suites are responsible for any maintenance to the fixtures and fittings within
the apartment. This includes items such as the flooring, kitchen units and
electric boiler. The ground rent is £150pa and the service charge is £895pa
which is very reasonable in comparison to other City Centre developments. If
you like what you hear and the numbers stack up, then give us a call.
Room sizes:
Entrance Hall
Storage Cupboard
Living Room/Kitchen: 23' 0" x 10' 6" (7. 01m x 3. 2m)
Bedroom: 13' 3" x 8' 6" (4. 04m x 2. 59m)
Bathroom: 7' 0" x 5' 0" (2. 13m x 1. 52m)
leasehold information:
Service charge - £1, 054 per annum
Ground rent - £150 per annum
Lease length - 125 years from 25 March 2005
Lease, ground rent, maintenance details and tenancy details have been provided
by the seller and their accuracy cannot be guaranteed. Should you proceed with
the purchase of this property, these details must be verified by your
Solicitor.

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