Bargain flats in the same Birmingham tower block have gone on the market with a guide price of just £10,000 each. The flats are both in Endwood Court in Handsworth Wood Road, Handsworth, and are set to go under the hammer this month.
Flat 18 in Endwood Court is a two-bedroom apartment on the fourth floor and comes with two lock-up garages numbered 10 and 12. The leasehold flat is rented out for £9,600 a year, with one of the garages bringing in another £720 a year, the other one being vacant.
While Flat 11 is also a two-bedroom home but this time on the third floor and is rented out for £6,600 a year. It also comes with a lock-up garage.
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The flats are within a minute’s walk from Handsworth Park and around a mile from the vibrant Soho Road shopping and dining area in the heart of Handsworth. Both flats have around 38 years left on 99-year leases, and each are subject to ground rents of £75 per annum, service charges of £1,463.42 a year, and annual buildings insurance of £485.20. They are being auctioned by Bond Wolfe at its next auction on Thursday, May 16.
Gurpreet Bassi, chief executive at Bond Wolfe, said: “These residential investments have guide prices that are very attractive when you consider they are already bringing in healthy rental revenues. Both flats sit in communal grounds and gardens and have a hallway, lounge, kitchen, two bedrooms and a bathroom. Endwood Court is conveniently located for all local amenities and easy access to Birmingham city centre.”
At the same auction, a Birmingham mid-terraced house is on the market with a guide price of £25,000 plus. The two-bedroom home is at 8 Lifford Lane, ‘less than a mile from Birmingham’s upcoming trendy suburb of Stirchley’ in the B30 area to the south of the city according to the auctioneers.
This property has a porch, understairs cupboard and kitchen on the ground floor, with a landing, two bedrooms and a bathroom upstairs, plus gardens outside. Mr Bassi said: “This property is in need of modernisation but its proximity to Stirchley could make it a great little investment for first-time buyers or landlords looking to extend their portfolios.”
While two more bargain homes, again both two-bedroom terraced properties, one at 283 Cherrywood Road, in Bordesley Green and the other at 48 Teall Road in Saltley are both listed with guide prices of £19,000 plus.
Those with a bit more to spend may want to take a look at a three-bedroom mid-terrace with gardens at 130 Shenstone Road in Edgbaston, close to several parks. It has a guide price of £39,000 plus, although is said to be “in need of refurbishment works throughout”.
To the north of the city is a three-bed end terraced home at 48 Hampton Road, in the Stockland Green area of Erdington, off Slade Road. It has a guide price of £44,000 to £49,000. While in the deep south of Birmingham, a three-bedroom semi-detached home at 28 Sylvan Avenue in Northfield is on the market with a guide price of £50,000 plus. It has gas central heating and two reception rooms but is ‘in need of modernisation’.
The auction also has more pricier options with one three-bedroom detached home at 71 Chestnut Grove, Coleshill, given a guide price of £275,000 plus. Mr Bassi said: “This well-presented property in a quiet road in Coleshill shows the great range of properties we always have available at our auctions.
“The ground floor opens into a hallway with a guest cloakroom and understairs store, a through lounge-come-dining room and kitchen, with a landing, three bedrooms and a bathroom upstairs. The property has gas-fired central heating and double glazing, and outside there are gardens, a driveway and a detached garage.
“There are plenty of local shops and services nearby, plus good access to the motorway network and Coleshill Parkway Train Station.” The properties are among 208 lots that are appearing in Bond Wolfe’s next auction, which will start at 8.30am on Thursday, May 16. The firm said each property is subject to a reserve price which may be different from the guide price. It added: “Please refer to the Important Information and legal pack(s) for further information and any additional fees which may apply.”