A one-bedroom apartment in Birmingham's Metropolitan House, at 1 Hagley Road, is listed with a guide price starting at just £9,000, but the successful bidder will not be able to live in it immediately because a tenant is in place.
The 19th-floor flat, numbered 1909, includes a bedroom, a bathroom with bath, toilet and sink, and a combined kitchen and lounge area, plus a hallway with storage. It has electric heating, double glazing, and access via stairs and a lift to all floors, with a communal entrance on the ground floor.
Location and transport links
The property sits at Five Ways Roundabout on Birmingham's inner ring road, the A4540, directly opposite the Edgbaston Village tram stop and close to Five Ways railway station on Islington Row Middleway. Several bus routes serve the area, and Broad Street's nightlife is nearby.
Metropolitan House, formerly an office block, has been redeveloped into 271 one, two and three-bedroom flats. It ranks joint 49th among the tallest buildings in the Birmingham area.
Tenant and rental income
The existing tenancy generates £9,600 per year, or £800 per month, according to the auction details. The sale is leasehold with nearly 99 years remaining, until December 2125.
Gurpreet Bassi, chief executive of auction house Bond Wolfe, said: “This is a very interesting property that has so many things going for it. Not only is the Metro tram terminus opposite, but the apartment is also in the middle of one of Birmingham’s busiest business districts, with the Greater Birmingham Chamber of Commerce offices also just opposite.”
Auction details
Bassi added that direct tram links and bus routes run into Birmingham city centre, and Five Ways train station is around the corner. He noted popular pubs and restaurants within walking distance, including The Physician and The High Field, plus the Botanical Gardens nearby.
The apartment will be offered in Bond Wolfe's next auction, which begins at 8.30am on Thursday, September 10. The auction will be livestreamed on Bond Wolfe's website, with remote bidding available by proxy, telephone or internet. Interested parties can register or find more information on the Bond Wolfe website.
