A two bedroom first floor apartment, Brook Lane, Great Wyrley, Walsall, WS6. The asking price is in the region of £85000 with Butters Jon Bee of Cannock (01543 526 779). Check it out here:
I have to be honest with you, I almost overlooked this one, a “plain Jane” of a property I thought with nothing that stands out. However, I am very much a firm believer in looking beyond the immediate and “seeing” the potential a property can offer. This is very much a case in point. With a lot of TLC this can definitely be turned from a “Cinderella” into the “belle of the ball”.
The best thing we can do with this is pop out to the garage, dust off the old DeLorean and travel back in time to 1972 or thereabouts and drag it, kicking and screaming, “Back To The Future”.
In order to achieve the potential and make this property modern and attractive to the right clientele ie working professionals. The following improvements would need to be considered. The decor needs some adjustment in general, the brick fire surround in the living room needs to be retired. and if there are to be fitted wardrobes in the master bedroom, a more modern style would be preferable. The bathroom requires a major overhaul with the suite and tiling being far too dull and boring. However, the kitchen is the bright spot, modern units, integrated oven/ hob and plenty of space for white goods. Replacing the tiling is open for discussion. I feel that they are too “rustic” and dark, it needs brighter colours, more in keeping with the rest of the kitchen. But this of course, is just my opinion.
For those not wishing to live near the hustle and bustle of a major town or city, the location is perfect being in the heart of Great Wyrley village. Though not too isolated that it isn’t far from the M6, M6 Toll and A5 road networks. There are also communal gardens for those not into gardening and communal car parking.
Please bear in mind there are a couple of unknowns here. Whilst there is double glazing the heating type is not specified in the property details. There is also no photo of the second bedroom so we are unable to evaluate the condition. However, we do know it is a fair size being stated at approximately 12 feet square.
I would appraise the rental level being in the region of £450.00 pcm with yields of 6.35% with the potential for more should improvements be made to the property. Interesting to note that whilst there maybe no room for capital growth here, the property’s value has not deviated in the last 9 years.
If you wish to discuss this property further and have a detailed discussion about my opinion and thoughts of whether this is the right investment for you, please feel free to get in touch. I am happy to share my opinion on any other property or properties you are thinking of purchasing. Just send me the link.
Phone: 01922 311016