Apartment 3 Jacoby Place, Priory Road, Birmingham, West Midlands, B5 7UN

Description

Auction House Birmingham & Black Country are pleased to present this two-bedroom, first-floor apartment situated within Jacoby Place, Edgbaston. The property offers a promising opportunity for purchasers seeking a home they can gradually personalise, as well as investors looking to expand or begin a property portfolio. The accommodation provides a practical foundation, with scope for the successful purchaser to introduce their own style and specification over time. With two-bedroom accommodation and potential for further enhancement, early interest is encouraged.

Accommodation

Hallway: 2.74m x 2.97m; Lounge / Dinner: 3.54m x 6.27m; Bedroom One: 3.17m x 4.55m; Bathroom: 1.66m x 2.03m; Bedroom Two: 2.94m x 3.3m; Kitchen: 2.51m x 3.34m

Location

Edgbaston remains a popular part of Birmingham, offering access to the city centre and a broad selection of shops, leisure facilities, employment centres and transport connections.

Tenure / Property Information

Investment Analysis

Recent completed sales within Jacoby Place were £188,000 and £190,000 in January-February 2025. The £189,000 base GDV uses this recent cluster. Older sales range from £135,000 to £305,000, indicating wider historic variation and reducing confidence. No bedroom or condition details are provided for the comparables.

Investment Snapshot

Strategy Recommendation

Potentially suitable for BTL based on the supplied asking-rent evidence, subject to legal-pack review, leaseability, service-charge and ground-rent confirmation, and inspection. Do not rely on the apparent GDV margin for a flip or BRRR bid without full project costs.

Works Required

No specific defects or required works are evidenced. Allow only for inspection-led repairs and purchaser-led cosmetic personalisation; no reliable refurbishment allowance can be quantified from the supplied information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £189,000 base GDV, 75% refinancing is £141,750. Against the £100,000 guide plus the supplied £1,560 buyer premium and £2,040 admin charge, the headline refinance margin is £38,150 before works, finance, tax and other completion costs. A reliable BRRR cash-left figure cannot be calculated because refurbishment, disbursement and other project costs are unknown. The lease expires on 26 September 2071, which may affect refinancing and resale.

Buy-to-Let Analysis

The advertised asking-rent evidence is £1,000-£1,200 pcm, equivalent to an estimated gross yield of 12.0%-14.4% against the £100,000 guide. Using the midpoint asking rent of £1,100 pcm gives £13,200 annual rent and a 13.2% guide-price yield. These are asking rents, not achieved or passing rents. Service charges, ground rent, management, voids, finance, tax and lease-related lending constraints are not supplied.

Flip Analysis

The recent comparable evidence supports a base resale value around £189,000, but no refurbishment allowance, selling costs, finance costs or complete acquisition-cost budget can be established. A reliable flip surplus and maximum bid therefore cannot be calculated. The apparent guide-to-GDV margin should not be treated as profit.

Investor Risks & Due Diligence

• The lease expires on 26 September 2071, leaving approximately 45 years at the current analysis date and potentially affecting mortgageability, refinancing and resale.

• Rental evidence consists of advertised asking rents rather than achieved or passing rents.

• Property condition is described only as offering scope for personalisation; no reliable refurbishment budget is available.

• Service charges, ground rent, management costs, voids, finance costs and detailed legal-pack disbursements are unknown.

• Comparable sales show a wide historic range from £135,000 to £305,000, and the comparables do not include bedroom or condition details.

• Additional purchaser costs may include searches, seller-cost reimbursement, legal fees and transfer fees.

Recommendation

Potentially suitable for BTL based on the supplied asking-rent evidence, subject to legal-pack review, leaseability, service-charge and ground-rent confirmation, and inspection. Do not rely on the apparent GDV margin for a flip or BRRR bid without full project costs.

Strategy Rating

Analysis Confidence

Recent same-development sales and several advertised rents are available, but comparable specifications, condition, EPC, service charges, ground rent, refurbishment costs, disbursements and passing rent are not supplied.