Lot 1 - 47 Forest Road, Moseley and Kings Heath, Birmingham, Birmingham, B13 9DH
- Unconditional Online Auction Sale
- Guide Price* : £425,000 plus
- Residential investment
- Block of 8 units
- Potential to improve
- Some refurbishment required
- Relatively large plot, extending to 0.17 acre
- Development potential STPP
- Walking distance to Moseley village centre
- Rent equivalent to £45,600 per annum (potentially £53,400 per annum)
On Behalf of the Court Appointed Receiver: Property converted into 8 separate flats let at a gross annual equivalent rent of £45,600 with potential to rise to £53,400*
Description
The property comprises a tenanted (*7 let and 1 vacant at a gross annual rent of £45,600 with potential to rise to £53,400 if the vacant unit is re-let at the same level as previously achieved) Victorian three storey property of traditional brick construction under a slate roof, been sub-divided into 8 self-contained flats (Flat 3 has its own external entrance). There are 6 one bedroom units and 2 studio units.
Each unit bar one has its own gas boiler and central heating.
The property benefits from a relatively large plot, extending to 0.17 acre, with an areas of garden at the front, side and rear. Refurbishment and repairs are required to some areas.
The property is also considered to have longer term development potential subject to obtaining any necessary consents.
Location
The property is situated in a residential area within the Moseley area of Birmingham. Forest Road is accessed from Woodbridge Road, which links to Alcester Road where there are numerous local shops and amenities within Moseley village. Birmingham city centre is approximately 2.5 miles to the north. Local bus routes are within easy walking distance and Moseley Village station, a new station on the Camp Hil Line is due to open in spring 2026. Moseley Hall Hospital is within 0.75mile.
Tenure
Freehold.
Accommodation
The property has the following approximate gross internal floor areas (note areas for units that we could yet arrange tenant inspections the areas are from the EPCs and the internal details for units not inspected are from historic sales particulars prior to when the property was last sold in 2015).
Cellar No access
Flat 1 Hallway, Lounge, Kitchen, Shower Room and Bedroom -42.58 sq. m (458 sq, ft)
Flat 2 Lounge/Bedroom, Kitchen and Shower Room - 35.51 sq. m (381 sq. ft)
Flat 3 Lounge, Kitchen, Shower Room and Bedroom - 65 sq. m (698 sq. ft)
Flat 4 Hallway, Lounge, Kitchen, Shower Room and Bedroom - 43.35 sq. m (466 sq, ft)
Flat 5 Lounge/Bedroom, Kitchenette and Shower Room - 25 sq. m (269 sq. ft)
Flat 6 Lounge, Kitchen, Shower Room and Bedroom - 35.46 sq. m (381 sq, ft)
Flat 7 Hallway, Lounge, Kitchen, Bathroom and Bedroom - 37 sq. m (398 sq. ft)
Flat 8 Lounge, Kitchen, Bathroom and Bedroom - 30 sq. m (323 sq. ft)
Total 313.90 sq. m (3,374 sq. ft)
Outside
Garden at the front, side and rear.
Tenancies
Flat 1: Originally let on a 6 month AST from 8th December 2021 at a rent of £525 per month and the tenant now has a statutory periodic tenancy. The rent remains at £525 per month.
Flat 2: Vacant.
Flat 3: Originally let on a 6 month AST from 28th July 2017 at a rent of £495 per month and the tenant now has a statutory periodic tenancy. The rent is now £575 per month.
Flat 4: Originally let on a 12 month AST from 19th August 2020 at a rent of £500 per month and the tenant now has a statutory periodic tenancy. The rent is now £575 per month.
Flat 5: Originally let on a 6 month AST from 20th February 2017 at a rent of £325 per month and the tenant now has a statutory periodic tenancy. The rent is now £425 per month.
Flat 6: Originally let on a 6 month AST from 23rd July 2019 at a rent of £475 per month and the tenant now has a statutory periodic tenancy. The rent is now £550 per month.
Flat 7: Originally let on a 6 month AST from 1st December 2019 at a rent of £475 per month and the tenant now has a statutory periodic tenancy. The rent is now £550 per month.
Flat 8: Originally let on a 6 month AST from 8th May 2023 at a rent of £600 per month and the tenant now has a statutory periodic tenancy. The rent remains at £600 per month.
The current total monthly rent is £3,800 (potential to rise to £4,450 if Flat 2 re-let at same rent as previously) equivalent to £45,600 per annum (potentially £53,400 per annum).
EPC
Flat 1: D Expires 13th October 2029 Flat 2: D Expires 8th August 2030 Flat 3: D Expires 3rd April 2034 Flat 4: D Expires 8th August 2030 Flat 5: E Expires 28th June 2028 Flat 6: D Expires 25th November 2028 Flat 7: D Expires 13th October 2031 Flat 8: D Expires 15th February 2031
Council Tax Band
A
Buyers Administration Fee
There will be a Buyer's Administration Fee of £3,000 (inc VAT) payable upon exchange of contracts.Additional Information
1. The information contained within the Particulars are given in good faith, but all descriptions, statements, dimensions ( these may have come from a third party source e.g. the seller, valuation reports or historic sales particulars), references to condition and permissions for the use and occupation or other details are made without responsibility and should not be relied upon as representation of fact.
2. If a video walk through, or any other form of virtual tour, is provided whilst every effort is made to accurately give an overview of the property we cannot give any warranty concerning the nature, and condition of the property and the suitability thereof for any and all activities and use. The video, or tour, is provided to assist only and without responsibility and should not be relied upon as representation of fact, or replace all appropriate due diligence a prudent purchaser would make.
3. The property is being sold under Proceeds of Crime legislation. Please see Legal Pack for further details.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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