89 Royal Arch Apartments, The Mailbox, Wharfside Street, Birmingham

Description

A vacant leasehold 15th floor apartment. A one bedroom 15th floor apartment situated within The Mailbox building located in Birmingham City Centre.

Accommodation

Communal Foyer: Concierge. 15th Floor: Apartment 89 - Entrance Hall, Open Plan Reception Room/Dining Kitchen, Bedroom with Juliette Balcony, Bathroom/WC with Shower. The apartment has electric heating and double glazing.

Location

Situated within The Mailbox building in Birmingham City Centre.

Tenure / Property Information

Investment Analysis

The supplied completed sales are all within The Mailbox but show a wide range from £160,000 to £375,000 for unspecified apartments. The £375,000 sale is not sufficiently comparable without bedroom, size and specification details. Using the £160,000–£217,500 evidence as the more relevant observed range, an indicative base GDV of £175,000 is used, subject to confirmation of apartment size, condition, service charge and legal title.

Investment Snapshot

Strategy Recommendation

Investigate as a potential buy-to-let or BRRR purchase only after reviewing the legal pack, service charge and lease details. Do not rely on the headline yield or GDV without confirming the apartment's condition, comparable size and all completion costs.

Works Required

No defects or refurbishment requirements are evidenced. Allow for inspection, cleaning and any necessary cosmetic or compliance works only after viewing and review of the legal pack; no quantified works allowance is supportable.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £175,000 base GDV, 75% refinancing would be approximately £131,250. However, refurbishment cost, service charge, lender criteria, valuation outcome, finance costs and total acquisition costs are unknown, so cash left in and actual BRRR viability cannot be established. The apparent headroom is subject to the comparables being genuinely comparable.

Buy-to-Let Analysis

At the £60,000 guide, the supplied advertised rent range of £1,000–£1,200 pcm implies a gross yield of approximately 20%–24%, using £1,100 pcm as the midpoint. This is not a net yield: service charge, management, insurance, maintenance, voids, utilities and any additional auction costs are not supplied. The rents are advertised asking rents rather than achieved rents.

Flip Analysis

A potential resale margin appears substantial at the £60,000 guide when compared with the indicative £175,000 base GDV, but no refurbishment allowance, selling costs, finance costs, taxes or full acquisition costs are available. A reliable flip surplus therefore cannot be calculated.

Investor Risks & Due Diligence

• Service charge and any building-related charges are not supplied.

• Additional completion costs may be listed in the special conditions and are currently unknown.

• Stamp duty and government taxes are excluded from the supplied auction costs.

• Rental evidence consists of advertised asking rents, not achieved rents.

• The same-building completed sales vary materially in price and lack size, bedroom and specification details, limiting GDV confidence.

• No property condition report or quantified refurbishment requirement is supplied.

• The lease details require confirmation from the legal pack despite the stated lease term and peppercorn ground rent.

• Electric heating costs and operating costs are not supplied.

Recommendation

Investigate as a potential buy-to-let or BRRR purchase only after reviewing the legal pack, service charge and lease details. Do not rely on the headline yield or GDV without confirming the apartment's condition, comparable size and all completion costs.

Strategy Rating

Analysis Confidence

The property identity, tenure, guide price, administration fee, asking-rent evidence and several same-building completed sales are supplied, but apartment size, condition, service charge, legal-pack costs, achieved rent, selling costs and finance assumptions are missing.