Apartment 7, 26 Wheeleys Lane, Birmingham, B15 2DX

Description

A modern vacant two bed first floor apartment in a City Centre location.

Accommodation

Ground Floor: Communal Entrance, Lift Access, Stairs Rising To The First Floor. Communal Hallway to Door Number 7: Hallway, Living Room, Kitchen, Store Cupboards, Bathroom, Bedroom 1 with En-suite, Bedroom 2. The apartment also has a balcony.

Location

A fabulous location for all things City Centre. Close to BCU and Hospital. Walk into the City Centre plus multiple train stations nearby including Five Ways, Birmingham New Street and Birmingham Moor Street. Birmingham offers a vast array of shops, eateries and nightlife and a variety of schools at different levels all within half a mile.

Tenure / Property Information

Investment Analysis

The evidence is mixed. A March 2026 sale on Wheeleys Lane was £95,000 and an August 2024 sale was £70,000, while three older transactions recorded at 26 Wheeleys Lane were £193,000–£202,000 between 2020 and 2023. The comparables are not confirmed as the same apartment or identical condition, so the valuation range is broad and indicative only.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack and confirming leasehold charges, condition and achievable rent. On current evidence, the property is more suitable for cautious income-led assessment than an assured flip or BRRR project.

Works Required

No condition or defects are supplied, so no refurbishment allowance or specific works can be supported. Review the legal pack, lease, EPC and inspect the apartment before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £95,000 indicative base GDV, 75% refinancing would be £71,250. This is above the £63,000 guide but only £8,250 above the guide before the £2,700 administration charge and any works, taxes, finance, leasehold or other completion costs. The refinance case cannot be fully assessed without confirmed works, total acquisition costs, lease costs and lender terms.

Buy-to-Let Analysis

At the £63,000 guide, the single advertised £350 pcm rent implies £4,200 annual rent and a gross yield of 6.67%, before the £2,700 administration charge, purchase taxes, leasehold costs, finance, service charge and other costs. Against the £95,000 base GDV, the implied gross yield is approximately 4.42%. The rent is an asking rent for local two-bedroom accommodation, not achieved rent, and no service charge or ground rent evidence is provided.

Flip Analysis

A flip appraisal cannot be reliably completed because no condition, refurbishment cost, selling costs or confirmed like-for-like resale evidence is supplied. The £95,000 base GDV is based on a nearby 2026 transaction rather than a confirmed identical sale, while older same-address transactions are materially higher.

Investor Risks & Due Diligence

• Wide variation in supplied comparable prices, with no confirmation that the sales relate to identical apartments or condition.

• The £350 pcm figure is an advertised asking rent rather than an achieved rent and is not confirmed for this apartment.

• Condition and refurbishment requirements are unknown.

• Administration charge of £2,700 is payable, with additional special-condition costs, stamp duty and government taxes potentially applicable.

• Service charge, ground rent, lease restrictions and other lease details are unavailable pending the legal pack.

• No parking or heating information is supplied.

• Refinance value and lender availability are not guaranteed.

Recommendation

Proceed only after reviewing the legal pack and confirming leasehold charges, condition and achievable rent. On current evidence, the property is more suitable for cautious income-led assessment than an assured flip or BRRR project.

Strategy Rating

Analysis Confidence

There is recent local sold evidence and one rental asking figure, but the comparables are not confirmed as identical units, the historic values vary substantially, and condition, leasehold costs, EPC, service charge, ground rent and selling costs are unavailable.