Apartment 20, Essex House 27, Temple Street, Birmingham, West Midlands, B2 5DB

Description

Long leasehold sixth/top floor self-contained flat. Investment - Rent reserved: £9,600 per annum.

Accommodation

Sixth floor: bedroom, open plan reception area/kitchen, bathroom/WC, entrance hallway and cupboard.

Location

The property is situated on Temple Street between its junctions with New Street and Temple Row. Public transport links include Birmingham New Street Mainline Railway Station, local bus services and tram services. Road links include the A38(M) and M6 Motorway. Shopping amenities include Grand Central and The Bullring Shopping Centre, with restaurants, cafés, bars and entertainment venues nearby. Recreational facilities include St Philip’s Cathedral Grounds, Eastside City Park and Centenary Square.

Tenure / Property Information

Investment Analysis

HM Land Registry comparables for the same Essex House address range from £128,000 to £158,000, with the five-sale average at £145,800. The latest comparable completed sale was £145,000 on 28 April 2026. A base GDV of £145,800 is therefore used, with a supported evidence range of £143,000 to £158,000 based on the more recent 2025–2026 sales. The £60,000 guide represents a substantial discount to these recorded sales, subject to lease, service charge, ground rent, condition and legal verification.

Investment Snapshot

Strategy Recommendation

Investigate as a buy-to-let or refinance-led purchase, subject to confirming the lease, service charge, ground rent, tenancy, condition and all special-condition fees. The passing rent and comparable sales create a strong initial case, but the £1,800 known fee and undisclosed recurring costs must be verified.

Works Required

No refurbishment defects or specific works are evidenced. Allowance is therefore not included. Inspect the flat, confirm statutory compliance and establish service charge, ground rent, heating, parking and any required maintenance before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the five supplied comparable sales, the base GDV is £145,800. At 75% loan-to-value, indicative refinance proceeds are £109,350. Against the £61,800 purchase price plus known £1,800 contract documentation fee, this indicates £47,550 more refinance proceeds than the analysed cost before finance, tax, lender fees, service charges, works or other seller/auction charges. This is only an indicative calculation and depends on valuation, lender criteria, lease acceptability and undisclosed property costs.

Buy-to-Let Analysis

The flat is let on an Assured Periodic Tenancy from 10 August 2026 at £800 pcm, equating to £9,600 annually. This produces a 16.00% gross yield on the £60,000 guide and approximately 15.53% against the £61,800 purchase-plus-known-admin-cost figure. A £1,200 pcm Zoopla listing is only an advertised asking rent and is not treated as passing rent. Net yield cannot be established because service charge, ground rent, management, maintenance, voids, tax and finance costs are unavailable.

Flip Analysis

The evidence supports a base GDV of £145,800 against the £60,000 guide and £61,800 including the known admin charge. However, no refurbishment requirement, resale costs, finance costs, tax, seller fees or other disposal costs are supplied. A reliable flip surplus therefore cannot be calculated. The apparent gross spread is not a confirmed net profit.

Maximum Bid Indicator

This is an HB screening estimate based on the supplied evidence and HB assumptions. It is not a formal valuation or instruction to bid.

Investor Risks & Due Diligence

• Annual service charge, ground rent and review provisions are not supplied.

• The seller may charge additional completion fees under the Special Conditions of Sale.

• The £1,200 pcm rental evidence is an advertised asking rent and not an achieved or passing rent.

• Flat condition and any required works are not evidenced.

• Refinance depends on lender valuation, lease acceptability and lending criteria.

• Net yield cannot be confirmed without management, maintenance, void, tax, finance and service-charge costs.

• Parking and heating arrangements are not supplied.

• The tenancy commenced on 10 August 2026; tenancy documentation and payment performance should be verified.

Recommendation

Investigate as a buy-to-let or refinance-led purchase, subject to confirming the lease, service charge, ground rent, tenancy, condition and all special-condition fees. The passing rent and comparable sales create a strong initial case, but the £1,800 known fee and undisclosed recurring costs must be verified.

Strategy Rating

Analysis Confidence

The analysis has five same-address completed sales, a documented passing rent, lease information and a known buyer charge. Confidence is reduced because service charge, ground rent, condition, parking, heating, seller fees and full legal terms are unavailable.