Buy and Rent Realestate
Flats - Studios for Sale
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Hi,
Thank you for your interest in this ‘unique’ investment opportunity.
I thought I would start by sharing with you some background information on this prestige development.
The Colmore has been built with the same developer as the award-winning Lockside Wharf development which sold out 12 month before completion.
The Colmore on St Paul’s Square is composed of 16 high-end one and two-bedroom apartments at the heart of one of the city’s most historic areas; St. Paul's Square, which is known as the address in Birmingham (The Colmore Brochure).
The apartment you are enquiring about is apartment 17 (there is no number 13) on the top floor of the 2 story development, it is the creme de la creme of all the apartments in the Grade 2 listed building (see attached terrace picture). It has 2 double bedrooms and 2 bathrooms and comes with its own large terrace (see attached terrace picture).
Inside, The Colmore will be just as distinctive - a heady cocktail of designer finishes, high ceilings and expansive spaces combining to deliver the final word in high-end living.
Featuring interior design cues taken from the art-deco elements that inspire the exterior, alongside designer kitchen suites from renowned designer Poggenpohl, taking every step to ensure an exquisite finish.
The feel will be a “New York private members club” feel with high ceilings, roll top baths, period features utilising the art deco façade of the building.
NEW INVESTOR BENEFITS
· Serviced Accommodation allowed and I have a specialist corporate (short term) letting partner in place with a track record in a sister development.
· Cashflow (Available on Request).
o Important Notes:
· The management fee will be less; the 20% is based on net, not gross turnover.
· The OTA platform fee (10%) is to advertise the apartment, however they have their own corporate and repeat clients in 60% of their lets, so this charge will be greatly reduced.
· I only assume a 70% occupancy rate and historically they have always achieved higher than this.
· Last summer they had 90% + occupancy rates.
· Strong Rental Yields
· There is only 8 two bed luxury apartments and Apartment 17 is the biggest penthouse with a large outside terrace (see attached picture).
· Parking space is purchased for apartment 17
· No ground rent
· 999-year lease
· Under Market Value!
JLL have just published their new forecasts for 23-27:
- Birmingham set to see second best rental growth in UK over next 5 years (19.3%)
- Birmingham city centre to see second best price growth over next 5 years (19.2%)
- Rental demand and yields predicted to continue growing - National shortfall of new homes will be 610,000 over next 5 years (was 500,000 previously)
Why Birmingham?
· Property prices in Central Birmingham are forecasted to rise grow by 24% over the next 5 years
· New £50 BILLION High Speed Train (HS2) direct to London
· £750 Million face lift for New St Train station which is the 2nd busiest train station in the UK
· Extension to the Tram network in the city
· Snowhill development is the largest speculative commercial development in the UK
· Birmingham is the second biggest city in the UK, creating high tenant demand
· Birmingham has the biggest shortfall of property of any city in the UK
· Birmingham hosts the second most pop concerts in the world across 3 venues
· Birmingham has hosted the https://link.edgepilot.com/s/94ff304c/r6lyTG6X8E_dD0dM-FLQAg?u=https://joseph-mews.com/property-news/birmingham-after-commonwealth-games/
· Five of the UK.’s top twenty universities are here welcoming 73,000 new students each year
· 5 Michelin starred restaurants
· 36 Million visitors a year to the Bullring shopping centre.
BACKGROUND
My strategy for this apartment was SA (Low, Medium & High forecast letter from my management company) and I have a written agreement, from the developer, that SA is permissible on this development (available on request).
Reason For Selling?
Unfortunately, due to my own personal circumstances, I am unable to complete the purchase on this fantastic investment and I have found myself in the unenviable position of being on the verge of losing my life savings of £113,000, the deposit I've already paid.
Fortunately, I have the support of the developer and, even though the completion date is imminent, they have promised to work with any serious new investor should they need to secure a mortgage.
I am open to any proposals from investors that will allow me to keep most, if not all, of my deposit. I am looking to either; find a cash buyer, a new investor to reassign the contract (permissible), or a JV partner?
If you would like any further information regarding the investment you can always contact me via email at kcvproperties@gmail.com or direct on (07739) 259360.
Thank you for your interest
Kind regards
Kevin
KCV (Properties) Limited
On website since. 2024
Price: £565000Birmingham, Birmingham