Apartment 12, Buttonbox, 116, Warstone Lane, Birmingham, West Midlands

Description

Long leasehold second floor self-contained flat within the Jewellery Quarter with secure allocated parking. By order of the Fixed Charge Receivers.

Accommodation

Second floor: two bedrooms, open plan reception room/kitchen, bathroom/WC and hall. Ground floor: secure allocated parking. Gross Internal Area approximately 55 sq m (581 sq ft).

Location

Situated within the Button Box development in the Jewellery Quarter on Warstone Lane, between its junctions with Carver Street and Pemberton Street. Nearby amenities and transport include Jewellery Quarter mainline rail station, local bus services, the A4540 Middleway, the A41, St Paul’s Square, canal-side walks and Birmingham City Centre, Brindleyplace and The Mailbox.

Tenure / Property Information

Investment Analysis

The most relevant evidence is a £110,000 completed sale at Buttonbox in April 2024, with another Buttonbox sale at £90,000 in November 2022. The £172,500 Buttonbox sale from 2019 is older, while the £162,000–£168,000 Minories sales are nearby but not the same development. A cautious evidence-based base GDV is therefore £110,000, with a £90,000 low case and £172,500 high case subject to substantial comparability and date uncertainty. The guide is £100,000, but service charge, ground rent and any seller fees are unknown.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the leasehold charges, special conditions, physical condition and achievable rent. At the guide, the limited base-case valuation headroom and incomplete cost evidence do not support an unconditional investment bid.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain legal and physical inspection information and confirm whether any cleaning, redecoration or remedial works are required before underwriting a works budget.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £110,000 base GDV, 75% refinance is approximately £82,500. Total project cost cannot be calculated because refurbishment costs, service charge, ground rent and any seller fees are unknown. The refinance would therefore not be sufficient to assess capital recovery or cash left in.

Buy-to-Let Analysis

BTL returns cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Service charge and ground rent are also unknown, and these costs could materially affect net performance. Do not rely on the guide price alone without verified achievable rent and leasehold charges.

Flip Analysis

Using the evidence-based £110,000 base GDV, a flip margin cannot be calculated because works, selling costs and total acquisition costs are incomplete. The £90,000 low case provides limited valuation headroom over the £100,000 guide before the £1,800 contract documentation fee and other costs.

Investor Risks & Due Diligence

• Annual service charge and ground rent are not supplied.

• Additional seller fees may apply under the Special Conditions of Sale.

• No sufficiently specific rental evidence is available, so rental yield cannot be established.

• No physical condition or refurbishment cost evidence is supplied.

• Comparable sales show a wide range and some are dated or from a different nearby development.

• Leasehold title and approximately 107 years remaining require legal review, including any restrictions or management obligations.

Recommendation

Proceed only after confirming the leasehold charges, special conditions, physical condition and achievable rent. At the guide, the limited base-case valuation headroom and incomplete cost evidence do not support an unconditional investment bid.

Strategy Rating

Analysis Confidence

There are several relevant completed sales, including a same-development sale in 2024, but the evidence has a wide price range and there is no rent, condition, service charge, ground rent or full-fee information.