No bars, no signal predictedOne bar, reliable signal unlikelyTwo bars, may experience problems with connectivityThree bars, likely to have good coverage and receive a data rate to support basic web servicesFull bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
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£330,000
Added > 14 days

5 bedroom house for sale

Wiggin Street, Edgbaston, Birmingham, B16
Under offer
Save
House
5 bed
5 bath
EPC rating: G*
747 sq ft / 69 sq m

Key information

Tenure: Freehold
Council tax: Ask agent
Broadband: Ultra-fast 1000Mbps *
Mobile signal: 
EE O2 Three Vodafone
Water: Ask agent
Heating: Ask agent
Electricity: Ask agent
Sewerage: Ask agent
Discover more information

Property description & features

  • Tenure: Freehold
  • 5 En Suite Bedrooms
  • Government Funded Supported Exempt Accommodation
  • 15.8% net yield
  • Freehold
  • Hands Off Investment Leased To One Of Birmingham's Leading Accommodation Providers
  • £52,000 p.a / £4333.33 pcm NET Rent
  • No Void Periods, No Headache, No Hassle Armchair Investment Opportunity
  • Let On 7 Year Hands Off Lease To Accommodation Provider
  • Newly Renovated Throughout
  • Located Within Close Proximity Of Edgbaston & Birmingham City Centre

*£52,000 p.a Net Rent*

* 15.8% NET YIELD *

*5 x Delux En-Suite Bedrooms

The OPA is delighted to present this hands-off investment opportunity, offering an impressive net rental income of £52,000 per annum (£4,333.33 per month) and a remarkable 15.8% net rental yield.

This substantial three-story property will come fully tenanted under a 7-year lease to a reputable accommodation provider.

Accommodation

• 5 Bedrooms: Each room features an en-suite bathroom and comes fully furnished.

• Renovation: The property will come newly renovated throughout including 5 new ensuite bedrooms, new open plan kitchen lounge, new flooring and will come fully furnished.

• Layout: Spanning three floors.

LOCATION

The property is conveniently located within popular residential area. With excellent transport links and within easy reach of local amenities.

TENURE & INVESTMENT OPPORTUNITY

• Freehold: The property is sold freehold with a new 7-year lease in place.

• Rental Income: £52,000 per annum (£4,333.33 per month) net rental income directly into your bank account.

The property is freehold and will be sold with the benefit of a hands-off lease to a social housing provider, offering a passing rent of £55,000 per annum (£4,583.33 per month).

We are advised that according to the lease terms, the tenant is responsible for bills, council tax, and most internal repairs and maintenance. The lease is valid until 2031.

INVESTMENT HIGHLIGHTS

This property is securely leased to a reputable housing provider, ensuring a guaranteed net rental income of £52,000 per annum. With a hassle-free investment model, this is an opportunity for investors to enjoy consistent returns without the complexities of day-to-day management.

• No Void Periods: Continuous rental income with no interruption.

• No General Maintenance: The tenant handles all general internal maintenance.

• No Council Tax: Council tax is the tenant's responsibility.

• No Bills: All utility bills are covered by the tenant.

• No Management Fees: Maximize your net income with no additional management fees.

• Reputable Tenant: Leased to a well-established housing company.

Material Information

• Council Tax: Band A

• EPC: EPC on completion

• Construction: Standard construction, mid-terraced property

• Utilities: Mains electricity, gas, water, sewage

• Heating: Gas central heating

• Parking: On-street parking

ANY RESTRICTIVE COVENANT, ANY EASEMENTS, SERVITUDES, WAYLEAVES, ANY PUBLIC RIGHTS OF WAY ACROSS PROPERTY OR BOUNDARIES:

Refer to property pack

ANY FLOODING IN LAST 5 YEARS

Not known.

IS THE PROPERTY LISTED?

NO

CONFIRM EXISTENCE & NATURE OF ANY KNOWN PLANNING OR PROPOSALS FOR EVELOPMENT

We are advised by the seller that the property is leased to a social housing provider under c3(b) use.

PROERTY ACCESSIBILITY – ANY STEP FREE ACCESS INC RAMPS/ LIFTS?

NO

ANY WET ROOM/ LEVEL ACCESS SHOWER

NO

IS THE PROPERTY KNOWN TO BE ON A COALFIELD/ MINING OR DIRECTLY IMPACTED BY EFFECT OF OTHER MINING ACTIVITY

NO

LEASEHOLD PROPERTIES ONLY (LEASE LENGTH)

N/A

LEASEHOLD PROPERTIES ONLY (GROUND RENT)

N/A

LEASEHOLD PROPERTIES ONLY (SERVICE CHARGE)

N/A

ANY OTHER MATERIAL INFORMATION – INFORMATION THAT MAY AFFECT THE AVERAGE CONSUMER’S DECISION MAKING

Refer to pack.

VIEWINGS

Please contact OPA for viewings.

MATERIAL INFORMATION

The OPA have taken reasonable precautions and exercised all reasonable due diligence by asking the Seller of the Property to provide us in writing a declaration of material information regarding a property to comply with the Consumer Protection from Unfair Trading Regulations 2008. However, certain information may be unavailable and/unknown. Any buyer must carry out their own due diligence and rely on their own searches investigations and enquiries in respect of all matters relating to their proposed purchase of this property, to enable them to make an informed transactional decision before proceeding to entering in to the exclusivity agreement on this property.

AGENT NOTES

Draft details, awaiting vendor approval.

Photos for illustrative purposes. The property is under renovation and will come newly renovated. Draft lease and heads of terms have been agreed with the tenant. The new lease will be entered into just prior to completion to ensure the new buyer benefits from the full term of the lease.

BUYERS FEE

Buyer's Fee of 2% of The Purchase Price, (All fees inclusive of VAT). T&Cs apply.

Please request information pack, Buyer’s Guide & FAQs.

You will be required to enter into an “Exclusivity Agreement” with the Seller, granting you the Buyer the Exclusive right to purchase the property within the exclusivity period.

Please note the Buyer’s Fee is a non-refundable unconditional Exclusivity Fee in addition to the purchase price payable to the Agent upon offer acceptance.

The fee is not subject to a cooling off period and is non-refundable save in accordance with the terms stated in the exclusivity agreement

Upon offer acceptance you will not be required to exchange contracts, but will be granted an “exclusivity period” in order to exchange and complete on the transaction. This timescale will generally be 8 weeks, but will be specified in the Exclusivity agreement.

This is a flexible and buyer friendly method of purchase. By signing the Exclusivity Agreement and paying the Buyer’s Fee, this secures the transaction and takes the property off the market.

By paying your fee, that amount may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty land tax liability.

The OPA’s “Secure It Now Exclusivity Package” – this is a legally binding agreement between you are the seller. When the offer is accepted, the buyer pays the Exclusivity Fee to the Agent and enters into an “Exclusivity agreement with the Seller”, granting the buyer an exclusivity period, which is usually upto 8 weeks to complete on the purchase of the property. During the exclusivity period, the buyer has the exclusive right to purchase the property, no other offers can be accepted and during this period buyer must complete the sale transaction. If the buyer fails to complete in this period, the fee is non-refundable.

This property is being offered under The OPA’s “Secure It Now Exclusivity Package”

This is an innovative secure and straightforward way to purchase this property.

Here are the benefits for you:

• Secure your dream property straight away

• Similar to a “normal” or “conventional” sale with a few measures to protect the buyer and the seller

• No competitive bidding

• No risk of being gazumped

• Minimises risk of fall throughs

Secure It Now Exclusivity Package - How does it work?

You can now secure the purchase with a buyer’s “Secure It Now Exclusivity Agreement. By entering into the exclusivity agreement and paying the Exclusivity Fee, this buys :

• A legally binding contract granting the buyer exclusive rights to purchase the property within a given timeframe (usually 56 days / 8 weeks , however please confirm seller’s required timescale)

• Paying the Exclusivity Fee ensures that the seller takes their property off the market as soon as the sale is agreed and reserves it exclusively for you.

• This prevents the risk of gazumping

• helps you avoid losing money and wasting time which most buyers like you may face with the traditional estate agent's approach.

• You get a fixed exclusivity period (approximately 8 weeks) to complete, safe in the knowledge that you will not be gazumped or outbid by another buyer.

Step 1 - Register your interest

Step 2 - Sort out your finances / Carry out your due diligence/ Ask questions/ Get legal/ financial advice if required.

Step 3 - Arrange a viewing / Virtual Tour (If you require a viewing. If you do not require a viewing and offer without a viewing, you are doing so at your own risk)

Step 4 - Make an offer

Step 5 - Secure your purchase using our buy and Secure It Now Exclusivity package

Step 6 - Exchange and completion

Next Steps – Do Not Miss Out -

IMPORTANT NOTES

Buyers should carry out their own due diligence/ investigations and if required seek independent legal/ financial advice. Cash buyers preferred.

This is an investment property and will be sold with the benefit of the social housing lease. Cash purchasers preferred. Anyone looking to purchase with finance must ensure that they can complete on the property and the property is suitable for their lender’s criterial.

We are advised by the seller that the property is leased to a social housing provider under c3(b) use. HMO licence not required.

The Exclusivity fee is a non-refundable fee and unless otherwise stated and agreed in the special conditions of the Exclusivity Agreement, this is unconditional, not subject to survey or valuation , lending or anything else. The fee is not subject to a cooling off period and is non-refundable save in accordance with the terms stated in the exclusivity agreement

MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale. 2: These particulars do not constitute part or all of an offer or contract. 3: The measurements indicated are supplied for guidance only and as such must be considered incorrect. 4: Potential buyers are advised to recheck the measurements before committing to any expense. 5: All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; 6: No persons in the employment of The OPA has any authority to make or give any representation or warranty whatever in relation to this property. No services, fixtures, fittings or appliances, including central heating, have been tested by the Agent at the time of printing. All references to parts of the fabric, material, decoration, external or internal features or grounds of the property are made without any warranty as to their conditions or effectiveness. Where definite checks have been made, such results will be made clear at the appropriate place in the particulars of sale. Every effort has been made by the Agents to obtain accurate information from the correct sources. However, intending purchasers and other readers are asked to make their own arrangements regarding verification of any statements expressed in these particulars of sale.

Please be advised that this property may have been owned by the current seller for under six months, or the seller may have the exclusive right to sell the property. If you require any further clarification, please speak to a representative of The OPA.

Any reference to, or use of any part of the property is not a statement that any necessary planning, building regulations or other consent has been obtained. All photographs shown are indicative and cannot be guaranteed to represent the complete interior scheme or items included in the sale. No person in our employment has any authority to make or give any representation or warranty whatsoever in relation to this property.Please be advised that this property may have been owned by the current seller for under six months.

Misrepresentation Act 1967: The OPA for themselves and for the vendors or lessors of this property whose agents they are, give notice that: (1) These particulars do not amount to, nor amount to any part of, an offer or contract. (2) None of the statements contained in these particulars should be relied on as statements or representations of fact, therefore all prospective purchasers or tenants must satisfy themselves as to their accuracy.



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    With over 40 years combined experience in buying and selling, we have sought to differentiate ourselves from our competitors by providing a new, versatile approach and bespoke solutions for both buyers and sellers. Our team boasts a wealth of experience in residential and commercial sales, retail, land, auction and investment sales and we pride ourselves on our reputation for exceptional sales results. Our professionalism, enthusiasm, dedication and attention to detail ensure that our customers receive an outstanding service above and beyond what one might ordinarily expect. We are not a ‘high street’ agency and our negotiators are not restricted by postcode. Instead we are entrepreneurial and property focused. Whilst our core area extends from Birmingham and the Midlands, we also have a proven track record further afield. We have sought to develop solutions in line with market requirements, namely commitment, best price and speed. Our aim is to fuse the benefits of a traditional high street agency, the commitment of auction sales and the cost of online agencies.

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    Property reference 28362549. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by The Online Property Agency - Birmingham.

    OnTheMarket may have applied supplementary data to this property listing, including:

    Broadband availability and predicted speed: obtained from Ofcom on January 6, 2022

    Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:

    Basic: Up to 30 Mbit/s
    Super-fast: Between 30 Mbit/s and 300 Mbit/s
    Ultra-fast: Over 300 Mbit/s

    The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2

    Mobile phone signal availability and predicted strength: obtained from Ofcom on January 6, 2022

    Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:

    Clear: No bars, no signal predicted
    Red: One bar, reliable signal unlikely
    Amber: Two bars, may experience problems with connectivity
    Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
    Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services

    Energy Performance data and Internal floor area: obtained on November 6, 2008 from The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

    Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.

    *Call rate information

    Calls to 0843 numbers will be charged at 4p/min from BT landlines. Calls from other networks may vary, and calls from mobiles and outside the UK will be higher. Calls to local numbers beginning with 01, 02 and 03 numbers will incur standard geographic charges from landlines and mobiles.