Purchase at Auction
Birmingham Flat 1-15, Southdown Avenue, Birmingham, West Midlands, B18 5LG
VACANT - Three Freehold Detached Buildings
£625,000+
Key Features
- Comprising a Total of Fifteen Flats
- Two Blocks providing Six Flats each and One Block providing Three Flats
- Internally arranged to provide a total of Forty Eight Bedrooms
- Off Street Parking
- Situated on a site area of 0.297 ha (0.735 acres)
- 15 Flats extend to a combined total area of approximately 1,201 sq m (12,927 sq ft)
Accommodation and Tenancy Schedule
| Building | Flat | Floor | Approx GIA (Source EPC) | Council Tax Band | EPC | |
|---|---|---|---|---|---|---|
1
|
1
|
Ground
|
89 sq m
|
958 sq ft
|
A
|
D
|
1
|
2
|
First
|
81 sq m
|
872 sq ft
|
A
|
D
|
1
|
3
|
Second
|
82 sq m
|
883 sq ft
|
A
|
D
|
1
|
4
|
Ground
|
82 sq m
|
883 sq ft
|
A
|
C
|
1
|
5
|
First
|
80 sq m
|
861 sq ft
|
A
|
C
|
1
|
6
|
Second
|
82 sq m
|
883 sq ft
|
A
|
C
|
2
|
7
|
Ground
|
70 sq m
|
753 sq ft
|
A
|
D
|
2
|
8
|
First
|
70 sq m
|
753 sq ft
|
A
|
C
|
2
|
9
|
Second
|
78 sq m
|
840 sq ft
|
A
|
C
|
2
|
10
|
Ground
|
82 sq m
|
883 sq ft
|
A
|
C
|
2
|
11
|
First
|
83 sq m
|
893 sq ft
|
A
|
C
|
2
|
12
|
Second
|
82 sq m
|
883 sq ft
|
A
|
C
|
3
|
13
|
Ground
|
76 sq m
|
818 sq ft
|
A
|
D
|
3
|
14
|
First
|
82 sq m
|
883 sq ft
|
A
|
C
|
3
|
15
|
Second
|
82 sq m
|
883 sq ft
|
A
|
C
|
| Total | 1,201 sq m | 12,927 sq ft | ||||
Acquisition Cost
| Purchase Price | £750,000 |
| Stamp Duty | £37,500 |
| Agent's Fee (1.5%+vat ) | £14,700 |
| Legal Fee | £13,500 |
| Misc |
£9,000 |
| Finance Cost for 12 months |
£73,125 |
| Total Acquisition Cost | £897,825 |
Cash Investment Required
| Cash Deposit 35% | £262,500 |
| Associated Acquition costs | £74,700 |
| Interest if Retained | £73,125 |
| Mobilization fund | £50,000 |
| Professionals / B.R / Structural / QS / MS etc. | £37,500.00 |
| Total | £497,825 |
Profit
| Profit (Estimated) | |
| GDV | £3,603,000 |
| Development cost | £1,585,320 |
| Acquisition Cost | £897,825 |
| Total Cost | £2,483,145 |
| Gross profit | £1,119,855 |
Return on Investment
| ROI (Estimated) | |
| Cash Invested | £497,825 |
| Profit Earned | £1,119,855 |
| Total ROI | 224.9% |
| Profit for JV Partner (50% share) | £559,928 |
GDV Appraisal
| Units Type (Flats) | Units |
|
Three Freehold Detached Buildings |
15 |
| Total Units | 15 |
GDV Appraisal continued
| Gross Development Value (Collective) | |||||
| Units | Buildings | Description | Proposed Residential NSA m2 | Value | |
| 15 | Three |
Three Freehold Detached Buildings |
1,201 | £3,603,000 | |
| Total: | Sale@ £3,000/m2 | 1,201 | £3,603,000 | ||
DEVELOPMENT Loan & Budget
| Item | Description | Amount |
| Legals | 5% of Construction Cost | £60,050 |
| Professionals / Architect | 2% of Construction Cost | £24,020 |
| Construction / Refurb | Collective Build cost | £1,201,000 |
| Insurances | For building & Construction | £36,030 |
| Section106 / CIL | Nil | £0 |
| Inteste rolled up costs |
15% | £198,165 |
| Contingency | 5% of Construction Cost | £66,055 |
| Total | £1,585,320 |
Disclaimer
Valuations & Appraisals by Sleek are strictly estimates only and you should use them on that basis. The valuation Model analyses prices for equivalent properties sold or sold in the area. These properties may differ in ways that we do not or cannot consider. Valuations are subjective and based on market forces, which may change. Valuations must not be used for property sale, purchase, mortgage or related purposes. You should seek a professional valuation from a qualified surveyor before deciding whether to buy or sell a property. We shall not be liable for any losses you or anyone else suffer due to relying on the valuations. This includes not being liable for any loss of property, loss of bargain, loss of capital through over-payment or under-sale or for any indirect, special or consequential loss.