Flats with £40,000 annual rent under the hammer next week

A property in one of Birmingham’s prime suburbs where five self-contained flats producing rents of nearly £40,000 a year will be at Bond Wolfe’s next live-streamed auction.

285 Harborne Lane in Harborne is close to a hospital and university and will have a guide price of £325,000+ on Thursday July 11.
 
James Rossiter, a senior auction valuer at Bond Wolfe, says the conversion into flats dates back to 2008.
 
“This semi-detached property, which stands back from the road behind a front garden, is located in the popular and sort after area of Harborne. Both Selly Oak and University train stations are within walking distance, providing easy access into Birmingham city centre and beyond. The property benefits from double glazing and gas central heating, with each flat registered for council tax and water rates.”

The accommodation has a communal entrance on the ground floor, leading to Flat 1 which has a hall, reception room/kitchen, bedroom and shower room with toilet. On the same floors are Flat 2 with a reception room/bedroom, dining kitchen and shower room with toilet, and Flat 3 with a reception room/kitchen/bedroom, and shower room with toilet.
 
On the first floor is Flat 4 with a hall, reception room/kitchen/bedroom and bathroom with toilet, and Flat 5 with a reception room, kitchen, two bedrooms and shower room with toilet.
 
Flat 1 is let at £725 per calendar month, Flat 2 at £625, Flat 3 at £595, Flat 4 at £625 and Flat 5 at £750, together totalling £3,320 per month or £39,840 a year.
 
Rossiter adds: “This could be a valuable opportunity for a landlord seeking to extend their portfolio in one of the city’s most sought after areas.”
 
The auction starts at 8.30am on Thursday July 11.