1 bedroom Flat For Sale

• Being Sold by GOTO Online Auction 

• Starting Bids from £80,000

• Buy It Now option available 

This property is being offered for sale by the Modern Method of Auction. The successful buyer will have 56  working days to exchange and complete (the Reservation Period), allowing time to arrange mortgage finance where required. 

If you are the successful bidder, you'll enter into a Reservation Agreement and pay a non-refundable Buyer's Premium. This secures the property, removes it from the market and helps provide greater certainty for both buyer and seller. 

This property is subject to an undisclosed Reserve Price, which is typically no more than 10% above the Starting Bid. 

For more information, please contact the agent or visit GOTO Online Auctions. 

Investment Financials Based on the £80,000 guide price, this property delivers a highly attractive return:
* Monthly Rent: £900 PCM
* Gross Annual Income: £10,800
* Service Charge & Ground Rent: £2,255 per annum
* Net Annual Income: £8,545
* Net Yield: 10.68% (Gross Yield: 13.5%)

The property provides a bright and welcoming living space, complemented by large windows that make the most of the elevated position and outlook. The accommodation includes a spacious reception room, a fitted kitchen, a well-proportioned bedroom and a bathroom.

The apartment is ideally located for access to Birmingham city centre, with a wide range of shops, restaurants, bars and amenities close by. Excellent transport links are also within easy reach, making this an appealing choice for first-time buyers, professionals or investors.

With its convenient central location, comfortable accommodation and attractive views, this one-bedroom apartment offers an excellent opportunity for city living.

Auctioneer's Comments 

The successful buyer will be required to pay the below non-refundable fees: 

• Buyer's Premium: 3.6% of the purchase price plus VAT (subject to a minimum of £6,600 including VAT) 

• Legal Pack Fee: £396.00 including VAT 

The Buyer's Premium is payable in addition to the purchase price and may be taken into account when calculating Stamp Duty Land Tax (SDLT). 

Material information: 

If you intend to purchase using mortgage finance, you should satisfy yourself that the property is suitable for the purposes for which you intend to use it and that it meets your lender's requirements to secure lending before bidding.   

A Legal Pack is available for this property and should be reviewed carefully before bidding. Neither GOTO Group nor the estate agent accepts any responsibility or liability for the accuracy or completeness of the Legal Pack and shall not be liable for any loss or damage arising from any inaccuracies, omissions or errors contained within it. Buyers should review the Legal Pack carefully, carry out their own due diligence and obtain independent legal advice where appropriate before proceeding. 

We are required by law to comply fully with The Money Laundering Regulations 2017 and as such need to complete AML ID verification and proof /source of funds checks on all buyers and, where relevant, cash donors once an offer is accepted on a property. We use GoTo Group to complete the necessary checks, this is not a credit check and therefore will have no effect on your credit history. With effect from 1st March 2025 a non-refundable compliance fee of £40.00 + VAT per buyer / donor will be required to be paid to the GoTo Group direct when an offer is agreed and prior to a sales memorandum being issued. EPC rating: C. Council tax band: A, Tenure: Leasehold, Annual ground rent: £10, Annual service charge: £2243.93,