Block of apartments for sale For Sale

Block 11 The Mint, Mint Drive, Jewellery Quarter, B18

£1,525,000

   

ROI = 0% BMV = 0%
Description

A rare opportunity to purchase Block 11 Mint Drive which is a block of 9 apartments and 9 parking spaces. The block consists of 3 x 1 beds & 6 x 2 beds and is being sold as a furnished, tenanted investment achieving £10,235pcm (£122,820pa) with the potential to increase rents to achieve £10,500 pcm (£126,000 pa). The limited company that owns the property can be purchased meaning there would be no SDLT to pay! The apartments are arranged over 3 floors with the ground floor commercial unit already been sold to an owner occupier. The size is 6,681 total sq ft for the apartments not including the communal area. Price per square foot - £228 per sq ft. Mint Drive is a major residential development in Birmingham's vibrant Jewellery Quarter, located at the former coin factory at the Birmingham Mint site. The Jewellery Quarter is a designated conservation area and proposed World Heritage Site and is already a prestigious and highly desired part of Birmingham. It is experiencing further development as some of the old factories are converted into apartments, restaurants and shops. It is only a short distance to all that Birmingham City Centre has to offer. TENANCY SCHEDULE: Apartment 181 - 2 bed - 831 sq ft - £1,300pcm Apartment 182 - 1 bed - 534 sq ft - £960pcm Apartment 183 - 2 bed - 862 sq ft - £1,250pcm Apartment 184 - 2 bed - 831 sq ft - £1,150pcm Apartment 185 - 1 bed - 534 sq ft - £950pcm Apartment 186 - 2 bed - 862 sq ft - £1,200pcm Apartment 187 - 2 bed - 831 sq ft - £1,200pcm Apartment 188 - 1 bed - 534 sq ft - £975pcm Apartment 189 - 2 bed - 862 sq ft - £1,250pcm LEASEHOLD INFORMATION: Service/Estate Charge - £7,323 pa Ground Rent - Zero (Peppercorn) Lease Length - 999 years from 22nd July 2013 Lease, ground rent and service charge 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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Property Details
  • Property ID: 157803764
  • Added On: 2025-03-05
  • Deal Type: For Sale
  • Property Price: £1,525,000
  • Bedrooms: 0
  • Bathrooms: 1.00
Amenities
  • Block of 9 apartments
  • 3 x 1 bed & 6 x 2 bed
  • 9 parking spaces
  • No SDLT to pay if you purchase the Ltd Co!
  • 6,681 total sq ft for the apartments not including communal area
  • Rental income of £122,820 per annum
  • 999 year lease from 2013
  • On site security
  • £228 per sq ft