660 Kingsbury Road, Erdington, Birmingham, West Midlands B24 9PN

Description

A three bedroomed duplex apartment arranged over first and second floors and above retail units. Accessed via an external communal staircase to a first floor entrance, the accommodation includes an entrance porch and hallway, good sized lounge/dining room with external balcony, fitted kitchen, three bedrooms, shower and separate WC. Additional features include gas central heating, double and secondary glazing.

Accommodation

Kitchen: 12'4" x 7'7" (3.76m x 2.31m). Lounge/Diner: 16'9" x 7'4" plus 7'10" x 4' into angular bay (5.10m x 2.23m plus 2.39m x 1.22m into angular bay). Balcony: 8'8" x 4'5" (2.64m x 1.35m). Bedroom One: 15'5" x 9'8" (4.70m x 2.94m). Bedroom Two: 13'11" x 7'6" (4.24m x 2.28m). Bedroom Three: 8'9" x 7'6" (2.66m x 2.28m). Shower Room: 5'5" x 4'1" (1.65m x 1.24m).

Location

Located at the junction of Kingsbury Road/Tyburn Road, providing access to a range of local shopping facilities, bus services and commuter links.

Tenure / Property Information

Investment Analysis

The supplied Land Registry evidence shows historic leasehold flat sales at £45,000 in 2013 and £72,000 for this address in 2008, but it does not provide a sufficiently current or directly comparable market value. The property now has approximately 56 years remaining on the lease, which materially limits the usefulness of the older sales. The £49,500 guide is not treated as market value or GDV.

Investment Snapshot

Strategy Recommendation

Do not bid without confirming the tenant's rent and tenancy position, obtaining leasehold/mortgageability advice on the 56-year lease, reviewing the special conditions and inspecting the property and communal areas. Proceed only if the price reflects the lease and all verified costs.

Works Required

No specific repair or refurbishment works are evidenced. Allow for inspection and verification of the kitchen, bathroom, heating, glazing, balcony, communal staircase and general condition before bidding. Any works allowance remains unsupported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not supportable on the supplied evidence. There is no reliable current GDV, rent, refurbishment budget or refinance valuation, while the approximately 56-year lease may restrict mortgageability and refinance options. Lease extension cost and eligibility are also unknown.

Buy-to-Let Analysis

BTL viability cannot be established because no passing rent, tenant rent details or sufficiently specific rental evidence is supplied. The tenant in situ should be investigated, including rent, arrears, tenancy terms and possession position. Leasehold costs include £322.72 annual service charge, £337.49 building insurance for the stated period and £70 annual ground rent until 2049, increasing to £100 thereafter.

Flip Analysis

A flip appraisal cannot be established because current resale value, refurbishment cost and selling costs are not supplied. The historic comparables are too old to support a current resale assumption, and the short remaining lease may reduce the buyer pool and resale value.

Investor Risks & Due Diligence

• Approximately 56 years remain on the lease, potentially affecting mortgageability, resale demand and value.

• Tenant is in situ, but rent, arrears, tenancy terms and possession position are not supplied.

• No sufficiently specific rental comparable or auctioneer rent estimate is available.

• Property is above retail units and accessed by an external communal staircase; the condition and repair obligations are unverified.

• Service charge, building insurance and ground rent are payable, with additional fees potentially listed in the Special Conditions of Sale.

• EPC and parking information are not supplied.

• Buyer premium is 4.8% including VAT subject to a £6,000 minimum, and additional auction fees may apply.

Recommendation

Do not bid without confirming the tenant's rent and tenancy position, obtaining leasehold/mortgageability advice on the 56-year lease, reviewing the special conditions and inspecting the property and communal areas. Proceed only if the price reflects the lease and all verified costs.

Strategy Rating

Analysis Confidence

Historic sold comparables are available, but there is no current valuation evidence, rental evidence, passing rent, condition survey, refurbishment budget, lease-extension information or complete fee schedule.