West Midlands portfolio bringing in £93,000 a year to be auctioned

Three properties in the West Midlands bringing in annual rents of nearly £93,000 are being auctioned by Bond Wolfe, for a combined guide price of £1.495m.

The Birmingham-based agents are acting for the same vendor in seeking buyers for the portfolio of purpose-built blocks with a total of 15 self-contained apartments across the three sites.

Coppice Court

They are Coppice Court, at 57 Coppice Road in Walsall Wood, where five apartments are producing £32,940 rents per annum – which is welcoming offers from £470,000.

Being auctioned at £430,000 is Heath Street Mews on Heath Street, Hednesford in Cannock, where four apartments are producing £23,760 per annum.

Heath Street Mews

And listed at £595,000 is Eden Mews on Lomax Road, also in Hednesford, where six apartments are producing £36,120 per annum.

James Mattin, managing director agency at Bond Wolfe, said: “These freehold residential investment properties are all fully let and are available for sale as a whole or individually by way of negotiation.

“Both together and individually they represent excellent opportunities with very healthy yields when the rents are based on the current guide prices.”

Mr Mattin described the Coppice Court apartments in Walsall Wood as being within a detached block in a popular location with secure gated car parking and communal gardens.

The Heath Street Mews apartments are within a detached block with secure gated car parking to the front and next to an open sports field.

Eden Mews

And the Eden Mews apartments are within a detached block with car parking at the front, and they are also next to an open sports field.

Mattin added: “This portfolio will appeal to a large number of investors.

“Being modern and purpose built with no void units makes this an attractive proposition.

“Two of the three properties are complete detached blocks, which adds further appeal, and with the marketplace being so buoyant at the moment we would advise anyone interested to get in touch with us as soon as possible.

“We have received indicative offers within 24 hours of going live so expect this opportunity to go quickly.”

Bond Wolfe’s next livestreamed auction will take place on the 20th October at 9am.

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