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10 bedroom block of apartments
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Property description & features
- Excellent Mixed Investment/Development Opportunity
- Block of Six Self Contained Flats on Plot Circa. 0.17 Acres
- With Planning for Additional Detached Four Storey Apartment Block with 8 Units
- Planning Application No 2021/01922/PA - Birmingham City Council
- Currently Generating Income of £40,860 per annum
The property is situated on Gravelly Hill (A5127) in a predomonately residential location. Within a convenient position situated;-circa. 400 metres from Gravelly Hill Train Station-circa. 0.7 miles from Erdington High Street.-circa. 0.9 miles from Junction 6 of the M6.-circa. 2.5 miles from Aston University.-circa. 3.4 miles from Birmingham City Centre.
A pair of three storey terrace properties, which was part of a parade of four, constructed circa. 1900s of traditional brick construction surmounted by a tile pitch roof. The property was refurbished and converted into six self contained flats circa. 2000.There is a significant rear car park accessed via the rear of the property via Compton Road with planning consent for redevelopment.
Please refer to floor plan for layout and measurements (where possible).
Ground Floor Flat 132 Gravelly Hill (Known as Sherwood Rise)
Accessed via own private front entrance, with lounge/kitchen area, two bedrooms and bathroom. Let since 11th August 2018, now on statutory periodic tenancy paying £585pcm (£7,020 per annum). EPC Rating C(72)
Ground Floor Flat 134 Gravelly Hill (Known as Loxley Rise)
Accessed via own private front entrance, with lounge/kitchen area, two bedrooms and bathroom. Let since 8th August 2020, now on statutory periodic tenancy paying £645pcm (£7,740 per annum). EPC Rating C(69).
Communal Entrance Hallways
With stairs and landings.
First Floor Flat 132 Gravelly Hill (Known as Sherwood Mews)
With lounge, kitchen, inner hallway, two bedrooms and bathroom. Let since 4th May 2019, now on statutory periodic tenancy paying £595pcm (£7,140 per annum). EPC Rating: C(73).
First Floor Flat 134 Gravelly Hill (Known as Loxley Mews)
With lounge, kitchen, inner hallway, two bedrooms and bathroom. Let since 7th December 2018, now on statutory periodic tenancy paying £605pcm (£7,260 per annum). EPC Rating C(77).
Second Floor Flat 132 Gravelly Hill (Known as Sherwood Garrett)
With lounge/kitchen area, bedroom and and bathroom. Let on 6 month assured shorthold tenancy agreement in November 2022 for £525pcm (£6,300 per annum) EPC Rating E(50).
Second Floor Flat 134 Gravelly Hill (known as Loxley Garrett)
With lounge/kitchen area, bedroom and and bathroom. Let since 27th November 2014, now on statutory periodic tenancy paying £450pcm (£5,400 per annum). EPC Rating D(59)
£3,405 per calendar month (£40,860 per annum).
We understand that each apartment has its own independent services, including electricity, water, gas and gas central heating system.With communal landlord electric.
To the front are landscaped floor gardens with decorative retaining walls.To the rear are landscaped gardens with seating area, bike store and substantial car park area accessed via rear gated entry off rear service road accessed via Compton Road.
The plot extends to circa. 688sq metres (0.17 acres).
Planning permission was granted by Birmingham City Council on 28th April 2021 for the erection of a four storey residential block comprising eight apartments with associated parking, access and landscaping (Planning Application No. 2021/01922/PA).Six of the proposed flats are spacious 2x bedroom apartments 72.3sq metres (788sq ft). Two of the proposed flats are 1x bedroom apartments 36.5sq m (393sq ft).
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