149 Lea Village, Birmingham, West Midlands, B33 9SJ

Description

A substantial three bedroom detached property of rendered brick construction surmounted by a tiled roof set back from the road behind a block paved foregarden allowing for off road parking for numerous vehicles. The property is offered for sale in presentable condition and benefits from UPVC double glazing, gas fired central heating and modern kitchen and bathroom fitments. The property further benefits from having Planning Permission granted for a two story extension to the side providing an additional bedroom and living accommodation. The property occupies part of a substantial L shaped plot and planning permission has been granted for a two bedroom detached property to the rear of the plot accessed via Moodyscroft Road. The property is located on Lea Village on the junction with Moodyscroft Road.

Accommodation

Ground Floor Entrance Hallway with WC, Lounge: 4.92 x 3.61m, Kitchen/Diner: 3.76 x 6.01m, Extension/Sun Room: 2.56 x 5.96m, Stairs First Floor Bedroom 1: 4.10 x 3.64m, Bedroom 2: 3.75 x 3.61m, Bedroom 3: 2.39 x 1.96m, Bathroom having panelled bath with shower cubicle, wash basin and WC: 2.68 x 2.23m

Location

149 Lea Village, Birmingham, West Midlands, B33 9SJ. The Cottons particulars describe the property as being within an established local residential/commercial area with access to nearby shops, amenities and transport links.

Key Investment Considerations

• Guide Price: £350,000+

• Tenure: Freehold

• Condition: Presentable / improved

• Preferred strategy: Development / House Refurbishment & Resale

Investment Analysis

Investment Snapshot

Strategy Recommendation

Preferred strategy: Development / House Refurbishment & Resale. This is based on the Cottons property description, current condition, tenure and the guide price. It should be tested against the legal pack, inspection, finance and local market evidence before bidding.

Works Required

• Verify planning permissions

• Cost side extension separately

• Cost rear building plot development separately

• Drainage/access/services review

• House cosmetic upgrades

HB initial works allowance: £20,000–£40,000. This is an investment-feasibility allowance, not a contractor quotation.

Rental & Market Context

No current rent is stated in the Cottons particulars. For initial appraisal only, HB estimates market rent at approximately £1,400–£1,600 per month (£16,800–£19,200 per annum). This is an indicative market assumption, not an auctioneer-stated figure, and should be checked against current local lettings before bidding.

GDV / Resale Analysis

HB's indicative post-works / stabilised value range is £425,000–£475,000. This is an appraisal estimate only, not a RICS valuation. Confirm the figure using recent genuinely comparable sold evidence, adjusting for property type, condition, tenure, floor area, plot and any planning potential.

Properties Sold Within Approx. 5 Miles

Specific sold transactions are not contained in the supplied Cottons scrape, so no unverified addresses or sold prices have been inserted. Before bidding, verify recent Land Registry sales for closely comparable properties in the same postcode and surrounding area.

Potential BRRR Position

The key value driver is the existing house plus the separately developable rear plot. The current HB value range relates primarily to the existing house after improvement; the development plot must be appraised separately using planning drawings, build costs, CIL/S106 if applicable, professional fees and completed-unit values.

Flip Analysis

A development-led exit may outperform a simple house resale, but profit should be assessed only after full build costs, professional fees, finance, planning obligations and sales costs. Do not treat the uplift between guide and completed value as profit.

Investor Risks & Due Diligence

• Review the full Cottons legal pack, title and special conditions before bidding

• Confirm buyer's premium / administration charges and completion timetable

• Obtain an appropriate structural or condition survey

• Verify refurbishment quotations and contingency before setting a maximum bid

• Verify current local rental evidence and recent sold comparables

• Confirm lender requirements, valuation assumptions and exit finance

• Verify planning permissions, conditions, building regulations, access and services

Recommendation

Initial recommendation: Development / House Refurbishment & Resale. The guide price may offer scope for value creation, but the investment case should only proceed if the legal pack, condition, rental evidence, finance and exit value all support the proposed maximum bid.

Strategy Rating

Income Investment: ★★★★☆ | Value Add: ★★★★☆ | Flip/Resale: ★★★☆☆