Apartment 72 Southside, St Johns Walk, Birmingham, West Midlands, B5 4TF

Description

The opportunity to create a city home to your own taste. This one bedroom upper floor apartment sits within Birmingham’s lively Southside district. Requiring modernisation, the property may appeal to buyers seeking a home to personalise, alongside investors considering their next project.

Accommodation

Hallway: 3.40m x 1.24m; Kitchen/Diner: 7.31m x 3.38m; Bedroom: 3.80m x 3.28m; Bathroom: 2.44m x 1.69m; Hallway storage (1): 2.01m x 0.60m; Hallway storage (2): 0.85m x 1.94m

Location

The surrounding area offers Chinatown’s restaurants, while the Arcadian and Hurst Street offer bars, dining and a lively social scene. Birmingham Hippodrome and The Glee Club are nearby. Bullring and Grand Central offer shops, cafés and restaurants in the wider city centre.

Tenure / Property Information

Investment Analysis

Completed sales in the same development/location range from £85,000 to £250,000, with the most recent supplied sale at £152,000 on 31 October 2024 and another at £162,500 in 2022. The £85,000 and £250,000 sales appear to be outliers, but no condition or specification details are supplied to reconcile them. A base GDV of £152,000 is therefore used, with an evidence-based low scenario of £85,000 and high scenario of £162,500. The £80,000 guide is below the base comparable, but refurbishment cost, leasehold charges and legal-pack liabilities are unknown.

Investment Snapshot

Strategy Recommendation

Proceed only as a tightly controlled refurbishment or owner-occupier opportunity after reviewing the legal pack, inspecting the apartment and confirming leasehold charges and refurbishment costs. Do not rely on the apparent GDV discount without those checks.

Works Required

Modernisation to create a finished city-centre home, with the detailed scope to be confirmed by inspection. Kitchen, bathroom and general finishes may require updating, but no specific defects or refurbishment costs are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £152,000 base GDV, 75% refinance would imply £114,000, but total project cost cannot be calculated because no refurbishment allowance or full purchaser costs are available. The known £1,500 buyer premium and £2,040 administration charge, plus possible legal-pack disbursements, should be included in a full appraisal. BRRR viability therefore remains unconfirmed.

Buy-to-Let Analysis

The supplied asking-rent evidence ranges from £300 to £2,250 pcm and is not confirmed achieved rent; the £900 pcm city-centre listing is the most directly relevant supplied indication. At the £80,000 guide, the implied gross yield range using £900–£2,250 pcm is approximately 13.5%–33.75%, but a reliable underwriting yield cannot be established because the rent evidence is broad and service charge, ground rent, insurance and other leasehold costs are not supplied.

Flip Analysis

A potential resale margin exists against the £152,000 base comparable, but it cannot be quantified because refurbishment costs, full acquisition costs and selling costs are not supplied. The wide comparable range and the property's stated need for modernisation create substantial uncertainty.

Investor Risks & Due Diligence

• The property is stated to require modernisation, but no inspection-based scope or refurbishment budget is supplied.

• Comparable completed prices vary materially from £85,000 to £250,000, reducing GDV certainty.

• Rental evidence consists only of advertised asking rents and ranges widely from £300 to £2,250 pcm.

• Leasehold service charge, ground rent, insurance and other lease terms are not supplied.

• Additional legal-pack disbursements, search fees, seller-cost reimbursement, legal fees or transfer fees may be payable.

• No EPC, parking or heating information is supplied.

Recommendation

Proceed only as a tightly controlled refurbishment or owner-occupier opportunity after reviewing the legal pack, inspecting the apartment and confirming leasehold charges and refurbishment costs. Do not rely on the apparent GDV discount without those checks.

Strategy Rating

Analysis Confidence

Same-location completed sales provide useful market evidence, but they vary widely and lack condition/specification detail. Refurbishment costs, EPC, leasehold running costs, achieved rent and some legal-pack liabilities are unavailable.