3 bed Flat (for sale) Royal Court Apartments, 66 Lichfield Road, Sutton Coldfield, West Midlands B74

£595,000
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Century 21 - Sutton Coldfield
1 Mere Green Road, Sutton Coldfield, Birmingham
0121 659 0042
First Published

17th Oct 2021

Last Published

30th Nov 2021

 

Features

  • Type: Flat
  • Bedrooms: 3
  • Listing status: sale
  • Country: England

Description

Ideal Investment Property - Guaranteed minimum rental income of £2,750 per calendar month equating to £66,000 over 2 years guaranteed.
Prime location **Fantastic buy to let Property (**Yielding over guaranteed 5% per year)

Century 21 Sutton Coldfield are delighted to offer for sale this perfect and ideal investment opportunity set within the prestigious and highly desired Royal Court Development, built in 2005 / 2006. All apartments are privately owned and maintained to extremely high standard.

Serviced by 3 high specification lifts accessing to all floors.

The communal garden grounds offer beautifully maintained areas with a variety of flowers, shrubs, raised seating areas with inset spotlights to path areas and a centre water feature. These apartments are a favourite location for professionals and with its unique location, the development offers an incredibly high rental demand and is sold with a guaranteed rental income of £33,000 per year for the next 2 Years Guaranteed

Leasehold: Initial 115 years remaining

Each apartment owner enjoys 1/22nd share of the whole development it is technically treated as freehold.

Shortly the owner will voted to extend the lease to 999 years

There is an annual service charge currently one of the lowest in the West Midlands covering all communal areas, building cover, window cleaning, maintenance, sinking fund and parking etc

Entrance is by the ground floor front door and a door directly from its own secure private garden allowing direct access to the rear car park.

Welcoming Reception Hall.
Having useful store rooms with doors to cloaks cupboard and airing cupboard

Kitchen (4.9m x 2.7m)
Stunning Fitted Breakfast Kitchen, fully equipped with contemporary neff appliances including an induction hob with extractor hood over, built in microwave, state of the art self-cleaning oven, plate warmer, dishwasher, washing machine and separate refrigerator and freezer. The kitchen is fitted with a range of cabinets complemented with under unit spot lighting and granite work surfaces with inset stainless steel sink.

Spacious Lounge (8.5m x 6.9m)
Having a feature bay window facing the rear with double French doors opening out onto the apartments own private sun terrace, wall mounted heaters, space for dining table and double doors

Master Bedroom (4.9m x 4.2m)
A light room located at the rear of the property with wall heaters, a large feature bay window overlooking the rear and door to en-suite and Fitted wardrobes and dressing table. 225mm high profiled skirting and bespoke architraves. Contemporary brush finished light switches and socket plates

Master Bedroom One Dressing Room - (3.5m x 1.6m)
Having fitted shelving, hanging rails and lighting

Master En-suite Bathroom One - 10'5 x 6'2 ft (3.1m x 1.8m)
With a suite comprising a fitted bath, two sink units and W.C and shaver point, wall tiles and flooring tiling complemented with under floor heating.

Master Bedroom Two - (4.m x 4.7m)
Having a feature bay window facing the rear, wall heater, door to en-suite and door to dressing room. Fitted wardrobes; 225mm high profiled skirting and bespoke architraves. Contemporary brush finished light switches and socket plates

Master En Suite Shower Room Two - (2.4m x 2.2m)
Having a large shower enclosure, W.C, sink unit with tiling to the walls, chrome ladder style heated towel rail, shavers point, extractor fan and floor tiling complemented with under floor heating.

Master Dressing Room Two - (2.4m x 2.2m)
Having fitted wardrobe and lighting

Bedroom Three (4.4m x 2.8m)
This room has been used for office, bedroom and dining room.

Guest Cloakroom
With W.C, wash basin, wall tiles and floor tiling.

Storage
Two additional storage cupboards.

Parking
The apartment has the benefit of two allocated parking spaces one at ground level and an additional under croft secure car parking space.

Car park spaces at ground floor benefits from 2.65-metre-wide spaces

The property is accessed via large electronic gate with remote.

Landscape Sun Terrace
The complex boasts landscaped communal gardens with a sun terrace and water feature

The Royal Court Development Description

Royal Court Apartments are located corner of Lichfield and Tamworth Road, Sutton Coldfield. The area is recognised as a sought-after Sutton Coldfield address, its distinctive, detailed Victorian facade is complemented by the luxurious, classic contemporary style contained within.

Attention to detail is a hallmark of Royal Court. High quality materials, luxurious carpets in principal rooms, granite surfaces in the kitchen, inlaid solid core hardwood veneered doors; glass and steel staircases and stainless-steel ironmongery are used throughout.

On-site gymnasium is an exclusive, private retreat in which to keep fit.

For resident / tenant use only. This fully equipped gymnasium comes complete with air conditioning, TV and equipment for running & cycle Machines to weightlifting equipment

Royal Court benefits with easy access to a wider area for business or pleasure. The M6, M6 Toll and M42 motorway is within 6 and half mile, making it simple to reach Birmingham International Airport and The Belfry, hosted the Ryder Cup competition played on the Brabazon course.

Furniture is included in the purchase to enable continuity of tenure by existing leases. All rental leases paid upfront for 12 months
Council Tax Band E

How guaranteed is the rental yield?

The developer is also promising a minimum five per cent yield on apartment 8 portfolio for a period of two years.

But how strong is that promise?

The company (Century 21 Sutton Coldfield Limited) will offer a guarantee minimum return of 5% until year 3 with the additional backing of the developer.

The company says it can guarantee the yield because of a 'robust model.
When it comes to any guarantee, you always need to evaluate what is backing it and quite how strong that pledge subsequently is we can do that

Further details are only available to registered applicant and genuine buyers.

What happens after two years?
The guaranteed yield ends after 2 years, then you will continue to get the full rental income without any involvement with the developer.

Rents have constantly risen giving greater return on investment.
The new owner is responsible for the service charge.
What do investors have to pay out?
- There is a small reservation fee to secure the property - this fee is deducted from the total cost.
- Pay a 10 per cent deposit within approximately 30 days of reservation secured in a solicitor’s client account.
- Pay a further 90 per cent payment on completion of the purchase.

Peter Bennett (developer), said:
The Investor requirement for quality properties like ours are at an all-time high.
We have been able to deliver a high yield by driving efficiencies at every level of the construction and operational process whilst in turn generating high rental returns for these luxurious apartments, prospective owners are willing to pay a premium for the facilities and level of service provided.
The rate at which the project has sold demonstrates that our model is successfully addressing the market demand

 

Local info for B74

Floor plan

 

Property Value Data/Graphs for B74

Property Type % Avg. current value Avg. # beds Avg. # bathrooms
Flat 41.1% £203,966 1.7 1
Detached house 29.5% £1,089,392 4.6 2.7
Semi-detached house 20.5% £419,780 3.3 1.3
Semi-detached bungalow 3.6% £327,488 2.3 1
Bungalow 1.8% £500,000 2 1
Maisonette 0.9% £195,000 2 1
Other 0.9% £160,000 2 1
Terraced house 0.9% £350,000 3 1
End terrace house 0.9% £125,000 1 1

Area Information

Average Price Paid

£443,493

Sales

3401

Current Average Value

£518,994

Value Change

£75,501 17%

 

Current Asking Prices in B74 Average: £518,994

Property Type 1 Bed 2 Beds 3 Beds 4 Beds 5 Beds
Houses £125,000 (1) £367,143 (7) £353,567 (21) £789,114 (17) £999,667 (15)
Flats £155,144 (17) £210,357 (28) £525,000 (2) - -
All £153,469 (18) £241,714 (35) £368,474 (23) £789,114 (17) £999,667 (15)

Nearby Properties

0 bed Land () Broad Street, Edgbaston, Birmingham B15 £18,000,000
0 bed Land () Suttons Drive, Great Barr B43 £7,000,000
8 bed Detached house () Green Lane, Wall, Lichfield WS14 £4,250,000
8 bed Detached house () Green Lane, Wall, Lichfield, Staffordshire WS14 £4,250,000
0 bed () Melvina Road, Birmingham B7 £3,499,999
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