Olton Wharf

Summary
Investment Freehold opportunity to purchase a fully let apartment scheme currently generating an income of £70,000 per annum with a yield of 8%. The development was converted by the renowned architect and developer Rajkowski in 2017 and further benefits from building warranty.

The property is owned by a limited company which would be transferred to the new owners on completion, giving ongoing tax savings and no stamp duty payable on the purchase.


Details
The Coach House at Olton Wharf offers an excellent Investment Freehold opportunity. The property which consists of 9 apartments was converted by Rajkowski in 2017 to create a mix of studio, 1 bedroom and 2 bedrooms individual apartments.

The sale is for the Freehold of the building and 8 of the apartments (Apartment no. 4 being previously sold) including the parking to the front of the building.

Each of the 8 apartments are let under an Assured Tenancy Agreement and current income is a little off £70,000 per annum.

The property is owned by a limited company which would be transferred to the new owners on completion.

Any buyer should seek advice from an accountant or tax specialist to understand the possible stamp duty tax savings and tax savings on any mortgage interest paid. There is no stamp duty if purchasing the company which owns the properties.


Interior specification
Each apartment has an oak finished front entrance door which welcomes you into the apartment.

The kitchens feature a stylish Howdens painted design complemented by a durable laminated work surface, incorporating a sink with drainer and contemporary tap. A range of integrated appliances includes an oven, electric hob with extractor fan and integrated lighting, fridge/freezer, and dishwasher, with additional space provided for a washing machine. The kitchen floor is finished with practical linoleum or laminate boards.

The open-plan lounge and dining area offers a comfortable and versatile space for both relaxing and entertaining, enhanced by quality carpeting that creates a warm and inviting atmosphere.

The modern bathroom is fitted with white porcelain sanitary ware, including a WC and wash basin with chrome mixer taps and a tiled splashback. A mirror with integrated lighting sits above the basin, while the tiled shower cubicle is equipped with an electric shower. A heated towel rail adds further comfort.

Bedrooms are thoughtfully designed, either as separate rooms or creatively partitioned from the living space, providing a peaceful retreat within the apartment. Each bedroom is finished with high-quality carpeting.

The apartments benefit from practical modern features including double power sockets in the kitchen, living area, and bedrooms, along with a TV aerial point in the living space. A speaker-phone entry system provides convenient access from the main building entrance.

Each apartment is light and airy, with pendant lighting fitted to the living areas and bedrooms, four-way ceiling spotlights to the kitchen, and compact fluorescent lighting to the bathroom.

Further finishes include white panelled moulded doors, painted MDF skirting boards and architraves, all complemented by satin chrome ironmongery. White uPVC double-glazed windows are fitted throughout, gas fired central heating radiators (with the exception of flat 7 which has electric radiators) serve the living areas and bedrooms.


Exterior of the property
Externally, the property offers a tarmac driveway with one allocated parking space per apartment, in addition to overflow visitor parking.

The building was a commercial unit changed to residential eight years ago by Rajkowski renowned developer and architect, The property benefits a upgrade of all the external walls and roofs, high specification internal insulation and double glazing.


General Information
Tenure: Freehold
Services: Mains gas, electricity and water
Local Authority: Solihull Metropolitan Borough Council
Council Tax Bands: Apts 1-3,5,6,8,9 B Apt 7 C
EPC: C
Postcode: B92 7RN


Buyer’s Fees
Buyer to pay agents fees of 2% plus vat on the total purchase price payable on completion.


Agents’ Note
We have not tested any of the electrical, central heating or sanitary ware appliances. Purchasers should make their own investigations as to the workings of the relevant items. Floor plans are for identification purposes only and not to scale. All room measurements and mileages quoted in these sales details are approximate.

Subjective comments in these details imply the opinion of the selling Agent at the time these details were prepared. Naturally, the opinions of purchasers may differ. These sales details are produced in good faith to offer a guide only and do not constitute any part of a contract or offer. We would advise that fixtures and fittings included within the sale are confirmed by the purchaser at the point of offer.

Images used within these details are under copyright to Vesper Real Estate and under no circumstances are to be reproduced by a third party without prior permission.


Anti Money Laundering (AML)
We will appreciate your co-operation in fulfilling our requirements to comply with anti-money laundering regulations. As well as traditional methods of producing photographic ID and proof of address, Vesper Real Estate as the Agent also uses an electronic verification system to meet compliance obligations for AML. This system allows us to verify you from basic details. You understand that we will undertake this search for the purpose of verifying your identity. Any personal data we receive from you for the purpose of money laundering checks will be processed only for the purposes of preventing money laundering.