134 Station Road, Cradley Heath, West Midlands

Description

By order of a major housing association. Freehold site comprising one vacant first floor self-contained flat along with the freehold of an additional 9 flats (arranged in 3 blocks and sold on leases) with communal land/gardens and access road. Full vacant possession.

Accommodation

Flat 134 Station Road: first floor flat, approximately 49m² / 532 sq ft, comprising entrance hall, one bedroom, reception room, kitchen, bathroom/WC and storage room

Location

Situated at the junction of Station Road and Seedhouse Court, well positioned for the amenities of Cradley Heath, Old Hill and Blackheath, along with Birmingham to the east and Dudley or West Bromwich to the north. Transport options include local bus routes, rail connections at Old Hill to Birmingham and Stratford-upon-Avon, and road links via the M5, M6, M54 or M40.

Tenure / Property Information

Investment Analysis

The £59,000 guide covers a freehold interest comprising one vacant 532 sq ft one-bedroom flat plus the freehold of nine flats held on long leases. No completed sales or formal valuation evidence is supplied, so GDV and a justified maximum bid cannot be established. The freehold also carries stated ground rents of £10 per annum per lease, potentially £90 annually before any costs, subject to lease and collection verification.

Investment Snapshot

Strategy Recommendation

Proceed only as a due-diligence-led freehold income opportunity, not on the headline flat yield alone. Obtain the leases, title, accounts, service-charge and repair liabilities, inspect the vacant flat and communal areas, confirm all completion fees, and secure an independent valuation before bidding.

Works Required

No specific defects or refurbishment requirements are evidenced. Before letting, inspect the vacant flat and verify heating, parking, services, communal areas, access road, lease compliance and statutory safety requirements. Allow for only evidenced works after inspection and contractor pricing.

Rental & Market Context

Potential BRRR Position

BRRR cannot be reliably underwritten because no GDV, refurbishment budget or refinance valuation evidence is supplied. The £1,800 buyer documentation fee is known, but potential seller fees and all property-level costs remain unquantified. The long leases, communal land, access road and obligations affecting the retained freehold require legal and management due diligence before considering refinance.

Buy-to-Let Analysis

The supplied £850 pcm figure is an advertised asking rent for a one-bedroom property in Cradley Heath, not an achieved rent and not confirmed specifically for Flat 134. At that rent, gross annual rent is £10,200 and the simple yield on the £59,000 guide is 17.29%. This excludes the £1,800 buyer documentation fee, any seller fees, ground rent/management costs, maintenance, voids, finance and tax. The nine £10 annual ground rents may provide a further £90 annually before costs, subject to verification. BTL viability cannot be confirmed without inspection, lease review, service-charge information and actual letting evidence.

Flip Analysis

A flip appraisal is unsupported because no completed comparable sales, GDV or refurbishment quotations are provided. The property includes a retained freehold interest and nine long-leasehold flats rather than a straightforward single-flat resale, so resale value and purchaser demand require specialist valuation and legal review. Estimated flip surplus is therefore unavailable.

Investor Risks & Due Diligence

• No completed comparable evidence is supplied to support market value or GDV.

• The £850 pcm figure is an advertised asking rent and is not confirmed for the subject flat or achieved in practice.

• The vacant flat's condition, heating and parking arrangements are not evidenced.

• The retained freehold includes communal land, gardens and an access road, with potential repair, maintenance and management obligations.

• The nine flats are sold on long leases; lease terms, covenants, service charges, arrears and freeholder obligations require legal and financial review.

• The £1,800 documentation fee is stated, but additional seller fees may be payable on completion.

• Ground-rent income is stated, but collection, lease enforceability and associated administration costs are not confirmed.

Recommendation

Proceed only as a due-diligence-led freehold income opportunity, not on the headline flat yield alone. Obtain the leases, title, accounts, service-charge and repair liabilities, inspect the vacant flat and communal areas, confirm all completion fees, and secure an independent valuation before bidding.

Strategy Rating

Analysis Confidence

The tenure, accommodation, guide price, stated ground rents and one local asking-rent datapoint are supplied, but there are no completed comparables, confirmed achieved rent, condition assessment, refurbishment costs, GDV, service-charge accounts or complete fee schedule.