Birmingham, B3
A characterful Grade II listed freehold student block in the heart of Birmingham city centre, secured at auction for £1.85m, well below its £2.5m market value. Just minutes from the University of Birmingham City Campus, the property benefits from having a prime location and strong tenant demand.
Comprising 26 fully let self-contained studio flats across approximately 10,000 sq. ft., the asset was generating £210k in gross annual rent at acquisition. Through improved management and rental re-optimisation, the current income has increased to £230k p.a. Planning consent has also been secured to add two additional studio units, targeting a projected rent roll of £300k+ p.a.
