Eleven fully let apartments in Birmingham city centre have come on to the market with Bond Wolfe for offers based on £2.4 million.
The residential investment portfolio, spread across six blocks mainly in the highly sought after district of the Jewellery Quarter, is currently bringing in rents of nearly £125,000 a year.
James Brady, Commercial Property Agent at Bond Wolfe, explained that a freehold block of two apartments was included as part of the sale, which was subject to all existing tenancies.
He said: “We are delighted to bring this portfolio of city centre apartments to the market.
“The apartments are predominantly located in the Jewellery Quarter, an area that is ever popular among working professionals thanks to its eclectic offering of restaurants, bars, cafes, and shops.
“The Jewellery Quarter has a strong creative vibe and attracts businesses from across the media, design and professional services sectors.
“All 11 properties are let with potential to enhance the rental income, and we see this as an ideal opportunity for secure long-term income for buy-to-let investors.”
There are nine two-bedroomed and two one-bedroomed apartments in the portfolio, currently producing a combined annual rent of £124,260, although the estimated rental value is £130,640 per annum.
The properties include two two-bedroomed apartments on Warstone Parade, rented for £2,190 per calendar month, and three two-bedroomed apartments at Cutlass Court, Boardwalk and Point 2, producing £2,940, £1,095 and £875 per calendar month respectively.
The other apartments include a two-bedroomed and a one-bedroomed unit at Sapphire Heights producing £950 and £680 per calendar month respectively, and a two-bedroomed and a one-bedroomed unit at Camden Court producing £725 and £900 per calendar month respectively.
The properties are all a short walk from city centre shops and venues such as the Bullring, Grand Central and Arena Birmingham, plus the busy canal network.
They all have easy access to the Midland Metro tram line and bus routes, New Street and Snow Hill railway stations and the A38M Aston Expressway, leading to Junction 6 of the M6 Motorway.
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